Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
@OSG, Yorek, the operator mis-spoke plain and simple. If you click the notes on the THG page of the webcast it has attendees, photos and titles and that is an official THG doc and it says Deputy CFO.....you will also notice a second operator voice for the first question so Matt Moaning probaby had first one fired for the mistake...Rothwell does not have the operational experience for Deputy CEO role...Gallemore is likely to be the deputy in case one ever needed...
@OSG, it was an error by call operator. Rothwell is Deputy CFO (old title Group Fin Controller). H1 and Q3 side notes on slides state the same as does LI…it was an error
Looks like we defo have an active buyer today…following the 442k several 50/30k ones and now a 100k share…normally volume very low most days at 2-3m and low first 2 hrs of trading
8.19am 442k shares at 65.48 and then 50k shortly afterwards…
Also QIA sit at the big boys table…if they have no interest of a takeover and MM gets on their wrong side or QIA just get bored, then someone else like an Apollo size could come in and “trade” something else with QIA - this is where MM will not have the “political” capital and could get stung….
LD1973, I agree that anyone wishing to take control would need a Balderton, Sofina or QIA to give undertakings or say even buy the shares off them and then launch a tender offer for the 35% and the smaller holders within the balance of 65% club…that way they would get over 50% but still remain a listed company but may well find it easier to break up the group….
one thing that is not talked about here is….lack of depth in mgmt other than Ingenuity with Vivek….Nutrition and Beauty have MM lieutenants but part of the reason THG failed to react swiftly was MM controls too much and spreads himself thinly even though apparently gets info on the hour every hour.
At times he just blusters his way thru…on H1 call he said separation costs £8m and the £15m on Q3 call.
I think if anyone breaks ranks it may well be QIA if they get fed up of MM given the have averaged down to £1.75…
@licker agree, Inaction Relations don’t respond to any emails….not even a token bland thanks but we are not telling you anything…the worst IR team I have come across in all my years….wouldn’t mind so much if their so called investor roadshows generated some new big holders over 3%
@yespsp, I too thought it may be MM’s older son Max but then decided it’s Matt Moaning himself doing his impersonation of Colonel Kurtz…lol. Wonder if his brother is back here too (was 93CPR back in the day before disappearing).
Enjoy the rest of the half term break matmaxmat…and look forward to LI and insta…lol…
@desertsands, l think Griffiths got out swiftly in Jun/Jul 22 when Belerion and Candy ruse came undone, from recollection he had started to reduce before it the 30 day putup/shut up period, and probably went short to make up long losses
A reminder of the holdings at time of Apollo bid. If the THG Employee Benefit Trust (5.69% holding) does not vote and everyone including the 35% voted against MM, but excluding Sofina, QIA and Balderton who with MM hold collectively hold (40%) they would still hold enough to stop a delisting as need 75% for that BUT they could lose control if someone mopped up the 60% and then control the Board too....remember Matt Moaning has c9% non voting shares he could convert into voting shares so control would be finally balanced but may be some tax consequences hence trying to release funds from ICON sale to sort that.
In reality it needs a Balderton, Sofina or QIA to break ranks. Sofina average buy-in price is over £2, QIA is c£1.75p after they averaged down with Softbank purchase and Balderton I do know.
% holdings at time of Apollo bid:
MM 15.78
Sofina 8.89
Balderton 7.46
QIA 7.32
THG Employee Trust 5.89
Brian George Kennedy 2.86
Mark Evans 2.71
Vanguard 2.63
West Coast Capital 2.03
Harbrook Ltd 1.97
Ophorst V M K V 1.93
Norges Bank 1.73
Tim Bunting 1.30
Terry Leahy 1.24
Blackrock 1.22
Kelso 0.60
Total 65.56
UBS just extended $9bn credit line to HBJ (ex prime minister and head of QIA and father of the guy who was bidding for Man U)….is the $3bn to fund losses on Greensill/ Credit Suisse shares or take Matt Moaning out of the public spotlight…tick tock tick tock…who will come out on top…MM or Captain Willard…
https://www.google.co.uk/search?q=apocalypse+now&ie=UTF-8&oe=UTF-8&hl=en-gb&client=safari#fpstate=vclbx
PMI paid over cUSD 17.5bn for Swedish Match which included Zyn….no idea of purchase price allocation to Zyn specifically
https://www.reuters.com/breakingviews/philip-morris-swedish-bet-may-take-multiple-tokes-2022-10-20/
Setting aside the geopolitics, it seems we are now in the zombie zone until any major news......we seem to be beautiful in the eyes of holders as very low volume and seen as a beast by prospective new investors as no demand for shares or any TR1s.....so back to hibernation until any news
GLA LTHs patience will be rewarded! Hold firm if you can.
@Pmh198, its because below the THG plc structure there are a raft of separate legal entities (both trading and dormant)….since the separation work there will in due course also be ones for nutrition, beauty and Ingenuity….usually have to file these 10 months from year end unless an extension sought…
@win4call - agreed. Also must be very dis-spiriting for all levels of employees below the Exec team, who decide not to cash in shares or even buy more or awarded some as part of comp package but then have to hold or forced to cash in at a low price.
There must be pockets of frustration at THG over SP performance over past 2 yrs and despite all Matt Moaning’s motivational videos (do remember the one Pain is Temporary…lol) things have not improved….remember workforce relatively young and will need their cash at some point unlike a 50 yr old…
@Manc39, good to hear the hotel staff have done the wider THG training courses “How to live in a parallel universe” and “Inaction Relations Masterclass”
@Jrlomax, as the Great King of the North once said “there is not enough hand sanitiser left the in world post Covid 19” for him to get that treatment in such an establishment….lol
@Manc39,
"I'm actually really glad it's making a profit as the gym floor needs a makeover and word has it that it's in the pipeline"
lol, yes you may get it in 2030 or if its RNS'ed and even then be cautious as words have zero value....sorry I could not resist a joke on this very boring day...lol
Seems CABP have overtaken our Matt...lost 80% in 3 months since IPO and crashed 75% this morning on a growth downgrade....market cap today £150m and only 3 months ago brokers said TP would be £1bn plus (Cannacord TP 565p in Aug23 vs 56p today)....sounds familiar....
I would not be surprised to see Matt Moaning come to CABP defence in a LI post as the self proclaimed defender against #LondonMafia.....
I think this was a fall back for Matt Moaning as THG were going to sponsor the HS2 trains between Birmingham and Manchester....lol
Sorry was to read 2023 was supposed to be cash breakeven/neutral