Member Info for Kua_

It was clear as day on the analyst call of the conflict of interest here with him remaining CEO of THG and major shareholder of Ingenuity. Analyst question around strategic initiatives and most of the answer was waffle on Ingenuity valuations (in $).

This needs to be led by someone with a proven track record of delivering organic growth and whose focus will solely on THG/RemainCo

Apollo interest, H&B Ingenuity partnership, Frasers partnership, Ingenuity demerger and now a potential VAT claim all deflection tactics for outright poor performance and conveniently timed release around reporting results. Market saw right through this guy.

If he falls so does all the other yes men around him stealing a wage

In the Selkirk presentation he stated they would look at installing a more established management team in the target co. Nutrition desperately needs this as much as us all here watching our investments completely fall apart, this bid can't come quick enough

Have to say I'm in complete disbelief here sitting at sub 40p as I write waiting for an update. Steve has been calling out the lack of buyers, but unless you're already invested and would buy at these levels to average down then why would you buy in? There are just too many unanswered questions, zero comms so anyone buying in is just a complete punt

I don't think it was 'stolen' either as we all had the same opportunity to roll into it. That said I do have serious questions over why this was the preferable option considering Apollo valued it significantly higher (when they approached in 2023) than the value ascribed to it in the demerger. We all know the real answer of course and that really does need to be addressed sooner than later for the benefit of all

History tells us that we are likely to get some other news along with the TU to distract from any poor performance. Last year we got the H&B contract with the headline ~£175m GMV figure in an attempt to sugar coat negative growth

Does THG have software engineers anymore? Seems like an Ingenuity matter

I think the term 'severely let down by management' is more appropriate than 'chickened out'. Just like all private investors here. No one is in profit unless you've been short.

Shame reality really. Have a good weekend all and might be healthy to switch off from the circus of THG

The thing is though, management have made decisions within their control which haven't really paid off so far such as the whole rebrand fiasco etc. Can do all the research you like but it's impossible to legislate for the hand grenades the CEO seems to throw at any given opportunity.

Time people stop trying to make excuses for poor performance

Could be wrong but quick search shows lowest MCAP currently valued ~£347m. We should make that.

Very clear now that the II's have forced this separation and were happy for MM to take a major shareholding in Ingenuity. Also what we suspected that MM is trying to spin the narrative in his most recent LinkedIn 'Wonderwall' post bragging about bagging Ingenuity. Roll on towards some SP recovery and some meaningful positive change at the head of THG here

Also agree to these recent posts. He got strong armed into splitting ingenuity out of remain and is now trying to spin this favourably towards himself as we all know he needs to feel like he's won and keep that ego ticking.

Agree, steve is one of the resident fear mongerers who likes to inject paranoia by commentating on the minute by minute price movements of wholesale whey and the THG share price. I wonder if him and co are just a little upset this actually had some positive momentum for a week?

Smart money is waiting for the minority stake partnership to come in for a division. Watched the presentation (thanks to whoever shared it in the thread btw) it sounds like a THG division, talks like a THG division and sure as hell looks like a THG division they are targeting over there

I've been wondering how they plan to award the staff shares and dilute us all again even further. Ingenuity has c4000 staff so will they be getting shares in the newly formed NewCo or RemainCo once de-merged? I suspect RemainCo is also going to take a hit on this.

Does anyone else have any thoughts?

I have this in mind around the Frasers 'strategic investment'. If I recall correctly they use Ingenuity for Australian operations so you'd think a roll out to further regions could be well on the horizon.

I think this may have been mentioned before but is the larger play here for them to spin off Ingenuity into their private entity allowing RemainCo to be the target of a takeover? This way they'd be able to get a price most will likely accept whilst lining their own pockets and they get to carry on with the Ingenuity project away from the LSE? I recall him saying he was tasking Ian Mac for specific purposes at the time of announcing his departure, could selkirk be that acquisition vehicle?

If that's the case then will take my chances on NewCo given I can in an ISA and eagerly await the bid for the remaining entity.

Can't help but feel that response is fairly subdued from them. Hopefully another party comes to the table here so those wishing to exit Ingen see fair value in all of this. Wishful thinking I know

Such poor execution in managing the market here.. obviously it will be ready to publish when it's ready but can help to think after a stronger SP performance yesterday off the back of the property sale news it would have been preferable to follow up with the circular release to gain some upwards momentum. Yet that momentum gets fizzled away and we become stagnant in a range which is completely detached from where this should actually be.

Nobody cares about THG Air.

Hardly (looks at the SP sitting currently at the dizzy heights of ~44p)

Circular please.