Member Info for itisagame

Interims as of 30 June 2021
Net Cash / (Debt)(5) 384.6m
Cash and cash equivalents 878,549,000
Total liabilities 1,492,740,00
Total assets 3,282,625,000
Operating profit/(loss) 11,216,000
Inventories 358,400,000

“Strong liquidity with net cash of £384.6m at half-year end (excluding lease liabilities), with liquidity available of more than £1.0bn (including undrawn facilities).“

To c.£700m available cash available 30/9/2021.

£300m less available cash June to September , but with no indication on what was spent on stock its hard to tell where is went.

The Q3 update was informationally poor and had no actual real numbers in it, a detailed update (if it’s doing as well as Matt states) could have been used as firepower. But we will have to wait for Q4 / full results.

Can only use the interim and final results for what should be factual fairly audited details.

Buy - MI Chelverton UK Equity Growth Fund 5.1%

the claims are never going to be paid in full, the money is not there, its still take something or get nothing for them.

any new chairman is probably going to end up with some very sweetly priced share options and walk in to a few million quid when the share changes direction by the middle of next year, (i dont think they will be anyway near close to Matts £830m though.)

Large II sells are never a good sign, They are funds and do have their own risk management tactics, but i do question why they didnt sell sooner around the £40-£30 mark after the first large drop, you would think when using other peoples money they would have had price points set in stone for sell orders to protect peoples investments and lock in profits, even if some were in from the £10 days 5 years ago.

The Alantra purchase is interesting, would like to see if they plan to hold longer term or will fold into a rise.

Would Matt with his 15% really take it private and lose the ~85% of the company which was sold at float?
Sure he made a few quid from the float but taking it private would be a huge loss to him, and put him at risk of a vote and getting booted out by the other large holders and him losing all control.
Even in private companies if he only has 15% of shares held he wont have the control or power or abilities that he had when he was the 100% owner operator, and he wont have the billions needed to buy everyone out to regain 100% with his personal wealth.

And TR1 number 4 for today….

The Capital Group Companies, Inc.
9.9% to 4.65% - so sold 5.25%

Anyone else ?

I am lost, strange scenario, I know they are busy with Black Friday / Xmas / new year, planning and execution but there hasn’t been any update from the company just Matt complaining, clearly need that independent chairman role filled if Matt doesn’t have time for manage the PLC while he’s packing orders.

Was 5% held, sold 1.6%, now hold 3.4%*

Franklin Templeton Fund Management Limited
Sale 5% of 1.6% to now holding 3.4%

All coming out the woodwork now.

Alantra EQMC Asset Management SGIIC, S.A. >5.5% tr1.

Must be who black rock sold to. So I’m guessing no excess floating supply of shares in the market which normally means… next step is a bounce?

With only ~20% of share issue in free float now the significant holders don’t have to buy many shares to take it over or a simple vote to take it private, or if they wanted to they could buy the remaining ~6m shares for ~£60-£100m with funding linked to the company, then sell off as private company for a much larger undisclosed sum or float else where in time.

Or again similar to THG if more significant holders sold the free float requirements could be met without dilution, and the company could restructure itself to aim for FTSE indexation. (When the mcap recovers)

And another one for the list of stocks that blackrock has aggressively sold.

THG few weeks ago AVON last week, noticing most of these big mid to high cap fallers have one big II in common.

Did that kn 0b head not repay the £1m loan he rinsed out of the company?

Come end of month
~£250-260m cash
~£200m net loan book / ~£270m gross loan book
~£9m in Bi-annual bond interest payment due ~Dec-Jan

I Think its going to end the year with ~£275m cash (unless bond repurchases are made).

I could be miles out but i like the challenge
Lets see what numbers Gazza comes out with :)
Good luck all.

Lol you are worried about $12.9m debt?

The remaining $30m is long term lease liabilities, which get paid as they come due from income.
“Net debt excluding lease liabilities $12.9m”

This has been primed for a takeover, low debt, cash generative, div paying, high revenue - to mcap, profitable company.

My guess, and where my money is : Give it 3/6 months to a year, it will be a lot higher.

This year probably :
THG - £2b revenue, £800-£1b gross profit.
say £80m-£100m net profit for full year (many costs for half year were one offs)
half year was £11m after ~£20m one off costs
THG beauty will IPO for around £2b
THG Nutrition has to be worth £1b
Ingenuity was valued by softbank at £4.5b. based on them buying 10% with an option to buy another 10% at £5.96 even if it was valued at half that - that is the mcap currently
there are other parts too, all which add a little bit of revenue.
so you are paying for one part of the company, and getting 3/4 for free.

My guess after being vocal about his opinions of UK stock market - Beauty will ipo on Nasdaq / otc.

I Could be right, I could be wrong, could dip more, could boom, but I still think it’s well overdone.

Gross profits and cash flow are to big to ignore, net profits will hopefully follow, When it’s separated revenue will drop but net profit proportionally could rise, maybe even end up with Beauty shares distributed on the side as a bonus

I doubt suspended as the FY21 guidance sounded pretty good on 13th October, but maybe future dividends might not have the growth that was expected - arguably more than made up for by the difference in share price if buying now.

"Cash conversion has come through more strongly than anticipated at the time of the August trading update. As a result, we expect FY21 reported cash conversion of c.80% and net debt before lease liabilities of $27 million at 30 September 2021."

Div still due to be announced on 1/12/21 ?

Div declaration due 1/12/2021
Ex div 10/2/2021
Pay date 11/3/2021

Price is getting silly now.