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THG has acquired an American skincare brand for US$20 million in a competitive auction run by the bankruptcy court of the US state of Delaware.
Founded in 2015 Biossance is stocked in over 1,600 stores globally including Sephora, Harrods, Space NK, Douglas and Selfridges plus online, but is part of US biotechnology group Amyris which recently commenced voluntary Chapter 11 bankruptcy protection proceedings.
THG was declared the successful bidder for assets including IP, plus inventory and debtors with a book value of $29m.
THG informed the stock market this morning that the deal is expected to complete in mid-December, with integration completing in Q1 2024.
Matthew Moulding, chief executive of THG, said: “The technology-led, clean chemistry formulations resonate with consumers globally, evidenced by a strong performance on our own retail sites.
“We have significant experience in prestige skincare as an innovator and manufacturer, and through our own brand portfolio including Perricone MD and ESPA. We’re incredibly fortunate and excited to secure this opportunity to work with the Biossance team and further build on the brand’s strong awareness across the US.
“The fit within THG is perfect, with Biossance already generating c. $2 million in revenue across our retail sites in the past 12 months. Integration on to the Ingenuity platform will commence as soon as the deal is finalised.”
Guys: Go look at the RNS's re:Total Voting Rights and Transaction in Own Shares, what I said in my original post stands, only in the last 15 months have the Total voting right fallen.
And just for Longterminvestor share buys backs started 4 years ago:
1st Mar 2019 7:00 am RNS Share Buyback Programme Commences
Total voting rights RNS dated Fri, 28th Sep 2018 14:00 state Shares 71,139,419,538
Total voting rights RNS Fri, 31st Mar 2023 14:32 (6 days ago)state Shares 66,615,936,756,
Net reduction of shares in issue 4,523,482,782 over the last 4.5 years. And the share price has dropped from 13/08/2018 61.6p to today price.
IMO Share buy backs don't work if they are use to hide LTIP share issues!
In fact the only material drop from share buyback has only occurred since Voting rights RNS Fri, 31st Dec 2021 11:00 71,022,593,135, so only the last 15 months.
Hosai: Households are expected to benefit from the fall in wholesale gas prices from July, when the energy price cap is expected to fall below £3,000.
The government plans to scale back support on energy bills from April, which will result in a rise in the cost of the average household energy bill from £2,500 a year to £3,000 a year.
There's no need for further energy price rises when the wholesale gas price has only been lower than today's price for 3 very short periods (< 6 month) since 2004.
...get the feeling that GSPC are only delaying, they don't want to go to arbitration.
'Cambay is an important national asset of India', they wanted us to find it, but don't want us there for the prize.
Personally I think they are more likely to lose it with the methods being applied.
Auotmatic trades today very nearly match the Ordinary trades don't you think?
Look at the trades on the 1st Nov, today's opening bid & ask trades were above the 1st, but was reporting down 12.5%!
With a spread of 14.81% (was showing 17% at the open) the drop is wholly contained within the spread.
Only 20 minutes in have the traders/MM's managed to get the price moving south.
When the only trade is a buy of £299 (as in this mornings case) how do you show the share down -3.23%, simples open the spread gap to the downside.
The market is too thin, so the market makers maniplate the spread negatively! Negativity generates sellers IMO, but may also indicate they are short of share.