Has anyone followed Jamie’s LinkedIn thread?4 Oct 2023 21:01
This was his message a few days ago:
I disagree with your “next to nothing” point. Business is about ethics, trust and transparency. They would be letting down, friends, family, THG employees and charities who have all invested heavily in Matt and the team.
As Matt mentioned 18 months ago, £1.70 significantly undervalues the business, we are now in a significantly better position then we were, whey prices have dropped off a cliff (as seen in H1 numbers) Ingenuity has had 100’s million spent in Capex and will now start to reap the rewards, not to mention a market leading, “best in class” beauty division.
A £900m current valuation is a joke and is why we need our board to start showing ALL investors what they are going to do to improve it, or make a fair offer to take it back private.
Putting aside ethics, trust and transparency, the board would need to win a 75% vote on any proposed price. The 35% club of LTH’s and “the quick money investors” would never agree to anything that isn’t a fair valuation, let alone some of the other major investors I’ve spoken to who form part of the infamous 65% club.
Remember, “£1.70 significantly undervalued the business” 18 months ago. Look how far we have come since!