Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@Moniman, if you have not read the Chairman’s statement in the latest annual report, then I suggest you have a read. Basically, it says he and non execs are unequivocally behind strategy and operational actions of Exec Directors and Senior Mgmt….
Basically, I read this as ….yes we know we are going to get a bloody nose at the AGM from the majority of of 35% club, but we will take it and move on as we have the 65% club.
@Ihavenoclue....makes sense why he went to Dubai a while back....He has collected so many stones he is forced to ship some there and is building a tower twice the size of Burj Khalifa...lol
#THGMoralityOfficer
#5%adviceguy
#95%valuedestroyer
#firingblanks
His LI post unfortunately will fuel a lot of jokes....he has hit his ceiling....
"what a bunch of cry-babies.".....oh the irony of this comment...he has caused a flood in Northwich since the calamitous CMD in Sept 21 and frequent outburts, whilst dismissing 95% of advice he is given....someone give him a mirror..lol
"you can be sure many will be quietly deleting articles from their archives, erasing all traces of their role in a blistering campaign of abuse against darktrace, its board and staff. but we have long memories."....lol...MM should focus on getting his house in order rather than trying to act like some Charles Bronson vigilante
"such is london’s fear of founders and tech businesses, those daft enough to join the lse are painted as using witchery, smoke and mirrors." well MM was clever enough to IPO and use it as a trigger for his LTIP and get Softbank money....think of those poor investors who have taken big losses....sure he has a big paper loss but he got an extra c10% of the company back...cannot be that paid....lol
I would sympathise more with MM if he walked the walked....he has got as much guff as those he berates...hence nobody new backing him him over 2yrs and the 65% probably accept they need to show outward support given how much they are underwater too...
Enjoy the sunshine!
MM was complaining about shorters last yr and started referencing Darktrace, Poppy and subsequent share price recovery…..Poppy has shown her skill as Plc CEO…as for MM well SP lack of 3% + holding new shareholders says it all…
A big drag on SP is his behaviour, style and fact he seems to have hit his development ceiling to take THG to the next big step up and fact he holds c 25% ….until some compromises we keep spinning wheels
This is Helen Jones’ first buy having been appointed..whilst good, it probably also means nothing imminent that THG are working on which would materially move SP eg Capital Event…but obviously any unsolicited approach not known to THG board would not be caught by this….
Maybe they filled the jobs…did you check the closing application dates this time yesterday? Lol
@GoldmanBaby1, I agree that we are nearing some capital event, but not sure which of the permutations…ie one big event or a series of smaller events.
I have held throughout the 2.5yrs without any sale or buys (or day trading) given the false starts I switched off, but I have had a some modest top ups over the past week as do think things are coming to a head…:otherwise THG will just tread water as trading out on an as is basis is sub optimal and continues to frustrate inorganic growth for the three divisions..
For me a turning point was when he finally the sorted out the LTIP for Gallemore and Sanders - one year late but very simplistic measures which will payout on an capital event(s) give TSR 80% and 20% ESG….Also, Al Crane coming in, much bigger push in offline which MM was somewhat dismissive of on a call..then add that to various M&A and uptick in IPOs and window is as good as it has been in a few years…
Ultimately, I think MM will have made some compromises as his backers will have said you have had your chances to take private but now you need to accept you cannot have everything and given ongoing geo-political environment and interest rate/inflation up and downs the next 2 yrs will be volatile and then we are in the world of refi of the TLB €600m so I think something gives pre AGM (if not by end of April).
GLA LTHs
3.00015%….so I think the just wanted to go over the 3% threshhold to show public support
@Yorek, yes you are correct regarding the last declared OVMKV holding in THG….they have come out publicly in support of the Kelso letter to BoD and wanting SP recovery, so I think the acquired Kelso shares to provide additional support after MM and Munroe started buying in Kelso…
Only on second class stamps....track record since Sept 21 does not meet criteria for first class edition.....lol
@Canary3, there may be some rationale to that theory....I know Kelso, is 0.5% so just a noisy shareholder at best. In mid Jan Kelso said FY23 results would be announced by end of March, alongside strategic intentions.....on on 4 April Kelso said FY results would be issued by end of April (but no mention of strategy update)......
Cannot be hard to prepare a set of results for Kelso given how small and simple it is. FY 23 may look good but a lot of their gains will have reversed on a mark to market basis based on current portfolio...maybe this is behind the postponed as maybe they are hoping for THG uplift....but they would not have known THG financial calendar.....anyway another hare to the one you set...lol
The second article made me chuckle…last para sums up MM in that he/THG are never to blame… happy to to take everything on the up, but blames everyone else on the way down
@Polishcap - agreed, seems a good piece of business by Glanbia for a c25% EBITDA margin business and level of assets that with it.
Glanbia bigger than THG.
https://www.glanbia.com/media/press-releases/glanbia-agrees-acquire-flavor-producers-300-million
@OSG, it is strange that they got full yr results out a week early and 2hrs notice for call…I must say the Q&A was very lethargic and they came across as energy vampires…hopefully they have been working allnighters on a capital event, or need to get out a US filing/prospectus backed up with 3 yrs audited results…lol
As for Q1 even MM alluded to Nutrition having a tough Q1 but reiterated consensus guidance and that any shortfall would be made up later in the year. So the RNS by end of April will not be surprising, and Beauty likely to compensate.
Seems to be Beauty and Nutrition have largely hit their revenue ceiling for the medium term, Ingenuity cannot convert sales so yet another pivot under Crane…hence they need partnerships or M&A for growth…spinning wheels now in the bigger scheme of things and only a massive or small series of capital events will unlock value…cannot see a trading it out scenario is going to do much over next few yrs given wider dynamics of LSE related trading issues even if they achieve the medium term 9% EBITDA…..as they will not become “global leaders” in their chosen markets with current footprint..(I think MM does overstate their global power when you look at segmental peers)
I’m still positive deals will get done! Just need to be given yet more time and maybe a few bloody noses at AGM if nothing announced by then.
Where is CitySpy…lol
Puig is a house of premium brands so better than THG’s portfolio of own brands and reseller. Puig turnover €4.3bn and adjusted EBITDA a whopping 20%…..will be interesting to see how it isvalued as not much info released…just a RNS of intention to float…will be a proxy/read across for a standalonr beauty division
@GTC, I would not get too excited yet….yes, I also posted earlier this week if last yr’s convention was followed we would get an RNS today…. BUT if you look back further then…
FY 22…..RNS of notice of results was on 14 Apr at 2.30pm and Prelims and Q1 announced 21 Apr
FY21 RNS of notice was 23 Mar (!) and Prelims issued 15 Apr
So no consistent pattern for RNS notice of results but a consistent pattern that results issued the 3rd week of the month in April (either Tues/Thurs)
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If reporting patterns continues the we should get RNS on Thurs 4 April to confirm Prelim FY23 and Q1 24 results will be Tues 16 Apr.
I don’t think they will play the silly game they played last time giving analysts 1hr notice…especially as this time they will be issuing guidance for FY24
GLA LTHs
Positive and independent engagement from Peel Hunt. A common thread running through this is the level of public disclosure (or lack of) to fully understand the 3 divisions.
Its disingenous from MM, Iain Mac and Sue Farr on the LinkedIn comments that this may provoke interest from those with analytical thoughts…..Fact is after the calamitous CMD in Sept 21, THG have disengaged on proactive investor engagement event though the likes of Gallemore admitted they did not do a great job in explaining business but would seek to do….instead they went into reverse.
If they followed the April results with a CMD that may even build on this….