Member Info for Okehurst1

Sparta are drawing the Shorts out to provide liquidity
They need a good run to accumulate at their price target as they burst past 2.99%
They have one shot before their TR1 and the price moves North

Let’s see how this ages the next few weeks

Stand corrected but THG advised 18% of revenue from own brands ?

Good point OSG

Agree not like for like but THG Beauty is Number 1 D2C platform in the world plus it manufactures Beauty Products, generating £1.3B

It may not be a 5X valuation but it’s valued at zero today if we take the view Nutrition is possibly £1.5B to £2B in its own right

MM retains control of the BoD of each entity

It would be a smart move by him and neutralise the activists sake time

Everyone’s a winner

It’s nuts Hosai

THG BoD announce Premium listing coupled with overseas listing for Ingenuity, Beauty to list separately, share buyback, FCF positive Q1 - 2 quarters in a row FCF positive

The rerate will be fast -and aided by the Shorts having to close - we could hit £2 plus quite quickly

Reckon the Activists will be pushing hard for each of the separated entities to have their own listing

It’s difficult to argue against from a shareholder value point of view

Aesop was valued at whopping 5X Revenue - $500M revenue vs $2.5B purchase price

Not a full like to like business model as per THG Beauty but bolsters the general view that the SOTP of THG is multiples of the current share price

THG is steal at the current £m/cap

Looks that way Boo

‘French skincare giant L’Oréal has agreed to acquire luxury cosmetics brand Aesop, which was founded in Melbourne before developing a cult global following, for an enterprise value of $2.53 billion. The transaction, which is expected to close in the third quarter, caps months of negotiations for the asset. Other companies, including private equity firm Permira and Chinese investment firm Primavera Capital also showed interest in buying a stake in the Australian brand, owned by Brazil’s Natura & Co., people familiar with the matter told Bloomberg last month. The deal will help Brazilian beauty giant Natura reduce its debt burden and focus on turning around other businesses’

Thanks for sharing 1 pencil, top research.

£1/2M UT 69.30

MM’s accumulate then do the cross

Same broker very active at that point

Stake getting built without doubt

Yeah we had a poster who listed the dates / prices /average

And same time the activists are picking up all the loose stuff via their broker

Looks like the Shorts are no longer doubling down, 20p off Marshall have no profit in the game

Wonder if they bottle it and move on the Offer, they need 21M shares, going to be a struggle to get that volume and that’s just Marshall

MM’s move the price down a couple of pence, take out weak hands, the big buyers get their order, repeat rinse… move the the Bid up daily the odd couple of pence but everything controlled

Smart how these guys trade / build a stake

MM is top draw entrepreneur, his record shows that

His most recent pivot - Ingenuity JV with Autostore - is a class move
Nicking £600M off Softboys, the list goes on ….
Personally I respect him as an entrepreneur

However he’s not cut out to be a CEO of a U.K. a quoted PLC, he knows that as does the market, even his mentor Sir Tom Hunter alluded the same a few months ago.

MM raises funds for Ingenuity via overseas listing and -whilst I would prefer debt to be repaid - maybe with a share buyback/ full listing he drives the share price towards £2
and retains control, I hope he does and everyone wins

Kelso and Sparta are no mugs

Powder dry stuff for them, the Shorts have been feeding them

Any dip they will just hoover up

Weighing up how the Activists have traded recently, reckon they will push us over 70p to 75p this week and attempt to get the Shorts to double down again, can’t see the Shorts falling for it though this time and once the Sparta TR1 pressure mounts , we ain’t going back down

Bit of a face off going on between both sides, really tricky for the Shorts now II Longs playing this one

Makes no odds now, Share going up either way

It’s been a great opportunity for us PI’s especially sub 50p
Dirt cheap at 70p

They have thrown quite a bit of $$$ the last few weeks to increase their Shorts and suppress the share price but the Activists -possible other USA financiers according to Betaville - have just gobbled them up and we are 45% YTD

Now that we have these new VC style funds committed we know the share price ain’t going materially back down due to SOTP/ their involvement , either Moulding delivers and drives the share price up or these guys will just keep accumulating until they gain enough equity to force a seat on the BoD / or their agenda is part actioned like the share buy back / premium listing / overseas listing etc

It’s been a bumpy ride since January 1st after the shambles of the EBITA Miss but due to the activists it’s been lucrative for us Longs who topped up in the 40’s when the Shorts pushed it down end of December

Our biggest II short has possibly 20p profit (90p average )on the table and needs 21M shares to close, they trimmed a tad last week will they go for it and take some profit ?
They will be buying alongside the Activists at that point

Top ride for us PI Longs