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THG Nutrition sales are back in growth in Q1 2025 underpinned by February and March performance.

Agree Pearls. Delivering on guidance never a bad thing. FUD brigade out in force this morning but the reality is there are no negative surprises here. There was never going to be a divi or buyback (which usually does not benefit sp anyway). If you read the detail its clear they are sacrificing topline to grow margin which is exactly the right approach

Even more I think. Feels like there might be an adjustment in the price coming

Including a number of credible parties behind them (eg Terry Leahy). All fanciful conspiracy theory BS.

Lets just see the results next week. If they deliver EBITDA and FCF all these theories will be fluff.

Well if you are right Oke and this counts as media speculation then they might have to RNS your theory tomorrow - or a rebuttal ;)

Interesting on number of shares. They may also consider 1) share consolidation, higher value shares gets rid of pesky penny stock day-traders 2) share buy back. Agree on divs, I think its fanciful at this stage but glad to be proven wrong

Agree ICComment. The simple truth is they could deliver EBITDA and positive FCF in-line with expectations (or better) and justify turning down the bid approach - then the tables are turned

The wording below slightly concerns me - refinance done, debt reduced, LT banking secured (all declarative) then the group is "focussed" on executing growth and cash generation which does not necessarily imply we see that next week

Following the Ingenuity demerger on 2 January 2025 and its recent successful refinancing, the company has reduced its gross and net debt, secured long-term banking facilities and is focused on executing its growth and cash generation strategy.

All fair points Phill but from a governance perspective how can we as shareholders of Remain be confident that we are getting the best arms-length terms when the guy heading up the supplier is also CEO of our company. I do think THG need to address this somehow as its another governance elephant in the room

Not true Pearls. I have been offered over 30p on a dummy trade

Agree OSG. Hence my comments about having to come up with something in the near term to remedy the ridiculous share price. I actually think a share buy-back could be interesting at this stage

Lets watch the price during the day. I can only imagine the shorts will be scampering around trying to close

30p offered now after a few weeks of struggling to get through that - the market is giving its verdict. MASSIVELY undervalued

Setting up and listing a company on the LSE with credible partners behind it would be a rather elaborate way of helping out a mate

It would be hilarious if actually THG proves everyone wrong and delivers EBITDA / FCF in line or better than the market expects.

They cannot reject a bid, no matter how flaky, that values My Protein at upto 600m and let the SP languish sub 30p without doing something now. "Fundamentally undervalues" is fine if the SP reflects current value - not if it doesn't

Unless the Board can set out a compelling strategy that gets the SP up in the short term then they will be under MASSIVE pressure to do something fundamental - ie cut a deal with Selkirk or another third party to recoup value for sharehilders

But value of one division double the current share price!!!

23 April 2025

THG PLC

Response to media speculation

The Board of THG (the "Board") notes the recent media speculation surrounding Myprotein and confirms that it received and rejected a wholly unsolicited, largely unfunded, highly conditional and non-binding proposal (the "Proposal") from Selkirk to acquire Myprotein.

The Proposal ascribed a headline value to Myprotein of £400m - £600m on a cash-free, debt-free basis. The majority of the consideration offered was in the form of newly issued Selkirk shares, and the remainder of the consideration would have been payable in cash from a new equity and debt issuance, which was largely unfunded and without appropriate detail on its source.

The Board considered that the Proposal fundamentally undervalued Myprotein and its prospects, and in addition carried significant execution complexity and risks, in particular the ability of Selkirk to raise sufficient funding. On this basis, the Proposal was unequivocally rejected by the Board. THG confirms that there has been no further engagement with Selkirk since the Proposal was rejected.

Following the Ingenuity demerger on 2 January 2025 and its recent successful refinancing, the company has reduced its gross and net debt, secured long-term banking facilities and is focused on executing its growth and cash generation strategy.

The Group's preliminary results and Q1 trading update are expected to be announced on or around 30 April 2025.

30p just traded - now onwards and upwards