RE: 240p SOTP3 Oct 2024 14:41
Agree he has to deliver or it all ends with him out of options and removed as a globally uninvestable failed CEO along with a failed CFO and failed IR ditectors. Ontop of that huge let down to his staff, charities, family and friends who all have big investments in him. That is a far worse outcome for him than an outright a sale or SOP breakup
He has a simple route to value as many business leaders/investors have been demanding now through SOP or a trade/PE sale. He's simply run out of confidence across the board on asking people to trust him to deliver value himself since Apollo bid 2 years ago.
It was all there very visible for all so see last update. He looked spent and at end of road. Nothing to inspire going fwds. The rebranding moaning again was just an excuse, most CEOs would smash and that as a significant but not especially hugely difficult change.
Despite all this I'm comfortable though in that...
1. We are same share class as those close to him so we get carried along with them
2. Share price is on its a..ss, all routes point to upside and time has run out.
3. Strategically it wasnt right having 2 stand alone highly profitable retail business being used to fund a high growth logistics business. They are totally different investment classes with different conflicting risk reward profiles to investors. No wonder it doesnt fit neatly into any investor criteria profiles its too much a mish mash of different business at opposite end of risk/reward
Its clear it's happening if you read the room...separation done, HMRC signed off, newco set up, main FTSE listing pushed out to.
march, office in city, moulding whole body language saying its not what I wanted ..but it happening as the other.iotion is far worse. I think.its making him ill and depressed
Im betting march 2025 value realised. It's simply taken too.long as a recovery play
Not sure this Board will ve we sought after in future as collective or individuals
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