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Wrong almost nobody would take 100p apart from short term traders who are very small in volume. 250p you may start to get the early exiters. Most want to see the medium term multibag rarate to peer level values

Od have had no problem with the shares vesting on targets met linked to revenue ebit and fcf. We were led to beleive that was the case from RNS. We would have all benefited.

However now typical confusing moulding says on linked I'm theyare vested. This is not on.

What is it?

Not selling stupid to sell when it's worth 200p today

Just everyone hacked off with moulding as every time he opens his gob or gets his chest out everyone groans apart from his great Q3 update which he shockingly failed to deliver a few weeks later.

He must get the venting amongst PIs due to 95% value destruction, many missed promises or stone wall silence. Its understandable, then despite all the value destruction he hands out bonuses and confuses everyone yet again on if they are vested or to vest on future targets. It's as if he us trying to.make a mess of it. He should of at least offered then as a SAYE not a give away for nothing

However he really has to deliver now its over half way through round 12 and he is way behind on points. He smashes it or he is gone I'm sept. 250p to.300p will do it all forgiven anything less good riddance

Just think about the PIs who put their money into you moulding!!!

LD agree. Moulding messes up yet again!!!! One minute he's saying they are in trust to be vested on targets now they've been awarded. He confuses the hell.out of everyone

Also agree his comms are so appalling that we have no idea about any of the good news amd when he dues make good promised he fails to deliver them or update on anything

I think he's run the course. Hes done a great job up.to.IPO built a great business but just doesn't have the skills to now move it to its next level. He can't stay in place when he's destroyed 90% value. He simply cant

Agree oke. He must have be an idiot ( and his chair and CFO ans sakes durectors) not to see the 40% miss coming when he stated good qtr4 forecast.

...so he is an idiot or had another motive

Which one is it?

Oke can't see it. Why would all the current IIs, qatar, sofina employees, friends, family, moulding etc just give it away stupid current orice for some else to.made big separation profits?

Maybe his **** next or something else or the rest of the board flashing? Go on moulding

can we see his chest again. Im lined up for another buy so I need his cheat out to create a dip

What must his staff think of a CEO who for some bizarre reason thinks people want to see his chestt selfie. Unheard of v strange

Well at this stupid price even an asset stripper would create value.

The second. I was the first!

They are not rewarding missed targets the RNS clearly states they are going into a trust and only vest on targets met. Wish people on here would read properly instead of msking up FUD rubbish

Silly panicky people. Check the share numbers doh! Its the recent employee share awards that's all

Or....

8 x ebit last year. 50% below sector average even in uk!

Or 3 × ebit estimate 2023 vs uk sector ave 14 or us sector ave 26

It's stupidly cheap however you look at it. Fair value 2.8bn 2024. 250p.

That's why we are all here

Why is this even discussed?

Moulding actually done a v good job on funding with softback and facilities.

THG have relatively low debt thanks to softback. It is in a strong cash position on balance sheet and FCF neutral (if not will be v. low).

Working capital dropped 100m due to lowering stock cover and capital 100m being looked at.

Move on folks no worries here

...and

Ebit isn't been destroyed by high debt funding and large capital (working and fixed) investment

It's a bargain but moulding needs to stop repeatedly messing up with IR

It's as simple as that.

Current share price is below 10x 2022 historic ebit which is low given sector ave is 14. Its around balance sheet asset strip value. The following has zero nothing zilch priced into current value...

1bn ingenuity win
60% whey reduction
2000 staff redn
Iceland asda and other growth in core divisions
Sale of small divisions

Some of these are now banked now in fwd trading but not in the valuation.

Buy the fear

Nothing is priced in on these. As you say it a bargain. Moulding messes up alot and shorts battered him but there no doubt its an absolute vsrgain

They are issued to a trust to be earned on performance targets. Seems good to me

Its hardly diluation for funding. Schemes like this are good where staff rewards are equity based. Ties staff into performance rather than base pay for turning up to work

Are they awarded or vesting only on targets met?

Why will they be free? If its a SAYE scheme then they are usually offered for staff to buy in 3 years at 20% discount to today's price

SAYE schemes are the best scheme for both staff and investors. They are a great idea. Far better than base salary uplift. I'd much rather have a workforce on incentives geared to share price than high base pay