Member Info for MarkBellUK

Todays Liberum note is very positive. Target price 1100 BUY

>Jedclampit has been on the game for 40 years.

Walking the streets with Nuri lol

Fasten your seatbelts and hold through the turbulence, its going to be like this until a firm offer comes in (if)

This swings more than Nuri (shorter)

;)

He's giving you the live auction price now @ 88.68

@92

@97.18

>All about Q3 Q4 inflation falling off a cliff.

Matty, hopefully its not because that aint happening

Tiger you miss the point. They see a profit in a group that needs completely restructuring but the tech , business model and customers are there. They will strip out the dead wood and turn the rest

Whilst the numbers arent great this is the key for me (Liberum)

On the face of it, the three core divisions in THG, if valued separately on their own, are unique assets that could be highly valued in the market, based on how listed peers of each division are valued. THG is a combination of a leading global online re-seller of premium beauty products, a fast-growing global lifestyle foods brand focused primarily on the growing segment of sports nutrition, and Ingenuity Commerce business which offers e-commerce in a box proposition with a SaaS model, but with the proven skills of building brands and online businesses. The three businesses combined generated over £2.2bn in sales in 2022, and if separated out, would be highly valued strategic assets in their own rights. Our SOTP valuation = 221p target price. (Ups to BUY)

Net debt
(515,000)
(304,759)

"Net debt before lease liabilities and adjusted for the impact of hedging was £181m (2021 net cash: £44m). The increase in net debt year on year is driven by the investment in property, plant and equipment, leases and intangible assets in the period totalling £176m. "

Okehurst am I missing something as this will affect offer price ?

No as its a subscription service but its mainly due to
"Non-cash impairment totals £275m. This was driven by the factors set out in the adjusted items section below. The impairment relates to charges in respect of THG Beauty and THG Ingenuity totalling £269m, other intangibles within discontinued categories of £4m and assets held for sale totalling £2m."

Estimate was £209m

Whilst your not wrong on FCF valutions (especially DCF models) Liberum changed its rating to BUY from hold and target from 50p to 221p using a SOTP Valuation which makes more sense for THG at present

Lovely I might get some of this rather large loss back!

Well missed it bidding 128 @ premarket. Got to stop being so tight

Its just dropped back into auction again buy surprisingly (to me anyway) price appears to be holding

PS for legal reasons thats a joke!

Im a long term holder!!

LOL

Colluded Means Concluded, markets

The original decision was meant to be colluded by June 2022 (I cant remember if we've had prior official communication)

So clearly the decision was made not to do it

However my point is, given the current extremely deflated share price , will this prompt a reverso ?

PS and a market cap of £467m vs £722m!

Tellworth Investments LLP 0.48% 4 Apr 2023

Even the shorters are using this opportunity to close their positions

I genuinely this this price is a reflection of sentiment and very low volume due to fear of the unknown

its definitely not based on fundementals or technical analysis (heavily oversold now for 9 days!!)

Strangely enough I stumbled over an old CMC article about "Splitting up CMC is ‘bleeding obvious’, says founder Cruddas" - "he believed the £722 million business was “absolutely” undervalued by the stock market and that separating its two main divisions was a “no-brainer”.

I appreciate the review is long gone, but those statements were made at a price of @ 243