Member Info for LD1973

I think it's pretty bad because as before I was of the view I'd rather take ingenuity shares rather than have 1/6th back in remain shares, as it was almost like a free roll (at those levels and with the SP the way it is). The way I see it now is you get to keep 100% of your original THG shares only if you don't roll (gee thanks) now you have to dilute your own shareholding for a punt on a private company. Even if you decide to stay with remain and there's reverse dilution, this is only as good as the company being able to protect the value of the shares (good luck with that one), so the reverse dilution could actually become dilution in no time at all.

All pretty unfair IMO, let's hope a knight on a white horse arrives shortly and saves us PI's!

I think the confusion and annoyance here is this is different to what we were told. We were told on demerger, if we wanted to roll with ingenuity, we would receive the same amount of shares in both companies. If we didn't want to roll, we would receive 1/6th of ingenuity shares we would be entitled to, back as remain co shares. MM said he / other large shareholders would basically buy out the shareholders who didn't want to roll with his shares in THG. Why have they changed their tune on this?

Selkirk didn't trade a single share today and they were up more than us - + 3.45% LOL

Yesimabeliever - that is exactly my thoughts. Unfortunately I don't know whether I can roll as I hold in an ISA. Best outcome for me is having the shares in a standard trading account (if HL let me) but then if it gets relisted down the line and we see value, I'll be taxed. Not ideal. Also I understand some II's are unable to hold shares in private companies due to their articles?

Looks like he cancelled 15m of his shares at ipo & took debt on, so it stood him in for £76m. Looks like he won’t have any tax to pay either as he made a loss (on paper anyway)?

£19m rent roll

Focus on the positives:-

- Shorts haven't jumped on this post demerger plan announced

- £500K worth of buys from connected people

If he wanted to renew / re gear the leases early this would have to be on an arms length basis (if it wasn’t important enough to do this before the split, why is it so important to do now?) No one here knows what leases are in place .

If Matthew moulding considers it appropriate to re gear the leases now, why did he not think it appropriate to re gear the leases 1 yr / 2 yrs ago? Only reason would be to make the rent cheaper for his new / private ingenuity!

Leases would not have been renewed (or should not have been) prior to them going on the market. Why would they, this would need the agreement of both THG & MM? Under the L&T Act, Ingenuity have automatic rights to renew on lease expiry. MM would not be able to alter the terms ingenuity has with him as landlord. It would be like negotiating with yourself and questions would be raised - why does he want to alter the terms now ingenuity is going private, He could have done that when THG were renting off him?

Almost £200m wiped off capital value in 1.5 days - this is nuts

Maybe MM re-geared the leases so ingenuity would be paying less rent when it goes private? Could explain the drop from £250m to £180m.

Not sure owning the properties changes things, whilst the shareholders didn’t like it, the leases will all be on an arms length basis.

Selling before was seen as a positive as he would have cash available to act. What’s changed?

Is our rebrand better than jaguar?

Lordeh - I'm not sure they could, but I think the difficulty here, is no one can come in for a bid on ingenuity until they know the exact terms of what nutrition and beauty are on. This is what I think Selkirk might be waiting for?

£2?!

Sorry, but can only see this as an attack to try and get stop losses - no other reason for this drop!

Why the drop?

They were valuing ingenuity at zero anyway

All's forgiven, give the placing money back, stay as one group and get rid of Matthew Moulding. Build all 3 up, then split.

Strange Reuters gives the option to follow revolut, A J Bell & HL. Why not CMC, bearing in mind we know there’s a tie up between the 2?

Legally is MM (or any other BOD) allowed to loan their shares out to shorts?