Member Info for Okehurst1

If betaville correct wonder if the activists will be on the offer this week?

The Fed now knows it’s ‘broke something ‘ - the USA Government having to guarantee every single deposit via a backstop of all USA based Banks is pretty big break

Interest rate rises could well pause

The Times - important paragraphs

American regulators moved to protect the deposits of all banking customers in an extraordinary attempt to ease pressure on the wider system following the collapse of Silicon Valley Bank (SVB).

As part of an emergency package unveiled last night, it was also announced that every SVB customer in the US would have access to their money from Monday after Janet Yellen, the Treasury secretary, instructed regulators to fully protect “all depositors”.

“Depositors will have access to all of their money starting Monday, March 13,” the US Treasury and Fed said in a statement. “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”

https://www.thetimes.co.uk/article/8d41b332-c109-11ed-8e20-0f5794810aad?shareToken=df9fa0ddc759abc081f4d3b01800d05e

Royal Group, an investment firm controlled by a top Abu Dhabi royal, is considering a possible takeover of the UK arm of Silicon Valley Bank following its collapse last week, according to people familiar with the matter. 

The conglomerate, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, is discussing a potential buy-out through one of its subsidiaries, said the people, who asked not to be identified because the discussions are private. 

https://www.bloomberg.com/news/articles/2023-03-12/powerful-uae-royal-s-firm-mulls-takeover-of-svb-s-uk-unit

Forgot to add

As SVB fund 50% of all VC led start ups in USA they will have a load of warrants
in these businesses - that was their bunce and normal practise

Know it’s a punt but reckon a big bank will look at that and take a view

Ironically SVB thought USA Gov Bonds were a safe haven at 1% and didn't employ a risk management executive for last 8 months

If the Government arranges a ‘ back stop ‘ for all regional banks I guess that stops the panic spreading and costs $zero it’s just confidence

Then another Bank with deep pockets buys SVB out of whatever chapter it is in today , equity in there is wiped out but the deal includes depositors protected, gut feel that looks like the way this one could go

No money lost if securities held to maturity $91B

Loans stand at $74B

Securities to sell anytime / cash /other was $43B at year end

Depositors had £173B year end but many had to deposit as SVB had arranged the Loans - part of term sheet off SVB

Back of *** paper including other debt SVB had ($22B)

Looks like $13B of bunce which was SVB shareholders bunce

See in the morning but enough in the tank for a deal to be cut

It’s rumoured this guy started/ fuelled the run

https://www.bloomberg.com/news/articles/2023-03-11/thiel-s-founders-fund-withdrew-millions-from-silicon-valley-bank

Knowbody … you nailed it with a simple paragraph

Will the USA Government just step in today / morning and ‘backstop’ all USA regional banks ? Will cost zero $$ and stop the panic spreading ?

Contain the issue to SVB?

Silver lining …. That’s a pause in interest rates on the cards?

Mute point but not sure why U.K. tax payers should bail out a USA tech bank over and above the £85,000 limit, nor the companies that bank with them

10,000 U.K. jobs in the mix but that’s not the Tax Payers responsibility to bail a bank every time the executives mess up - especially one 5341 miles away ( head office )

Goodtime, spot on

SVB backs 50% of all USA tech start ups and forces the people who borrow off them to deposit their money there, THG is neither or…

We would get an RNS Monday 7am if we were and or we would be on the list of the 200 U.K. companies asking for U.K. Government support
Article below

To give comfort, we ain’t on the list

‘UK chancellor Jeremy Hunt was on Saturday locked in talks over how to stop the collapse of Silicon Valley Bank from dealing a heavy blow to Britain’s tech sector.

More than 200 UK-based tech company executives have urged Downing Street to step in, warning that many companies faced an “existential threat” because they banked with the UK arm of SVB.

Prime minister Rishi Sunak has said he wants Britain to be “the next Silicon Valley” but the bank’s crisis risks seriously damaging that ambition’

Signatories to the letter include executives from Tessian, Beamery, Curve and bit.bio, companies that have each raised funding in excess of $100mn, as well as several smaller firms.‘

https://on.ft.com/3YzE7ZG

No way ….. (holds head in hands )

Hi 1 pencil
Know it’s a left field option but what about reversing into a SPAC ?
140 looking for home for their cash ?

Silver linings stuff for THG

The Fed must pause on rates ?

Ingenuity requires engineers and it keeps the lid on developer costs globally
going to be more lay offs in tech

SVB going under affects the sub series C group, not going to be companies raising $$ to become JV partners with Autostore

When will the IPO market open up again? Access to capital restricted for unproven models ? Years away

Cash is still out there looking for a home but private markets have still not repriced
we are oversold

Harsh as it sounds it’s helpful for THG the business

No prob Goodtime

I am 100% long THG

Once we ring fence Ingenuity balance sheet from the Core -and assume On Demand restructured - this share price rockets, our FCF is relatively good and we pay down debt, that’s saves £60M a year !
Put into prospective we made £70M last year before interest / rent
It’s serious cash and dead money

I have full confidence that the THG BoD are onto it and have a plan and Ingenuity enjoys the capital it deserves and subsequent runway to deliver it

The Activists are circling as the clock winds down the Golden Share, us little PI’s will make money either way but I am hoping the BoD find that solution

Firewall behind Home page

It’s under THG part 18 if you subscribe

Full transcript as below - if that helps

Ergo full article guys

‘A second activist investor is rumoured to be circling THG, the London-listed e-commerce company, with a view to building a stake in the business and pushing for significant strategic change.
People following the situation have heard talk another activist has been studying the possibility of acquiring a significant shareholding in THG, which runs the Lookfantastic, Glossybox, Zavi and Coggles websites and also beauty brands including ESPA and Illamasqua.
Some of these people following the situation suggested the investor could be one of the new activist funds set by former Elliott executives, such as Sparta Capital Management, led by Franck Tuil, or Palliser Capital.
The talk comes after Kelso Group Holdings declared in January it had built a shareholding in THG of around 5 million shares or around o.4pc.
Kelso is a listed vehicle set up by John Goold, a well-known British stockbroker. The firm said it aims to "engage and unlock trapped value in the UK stock market".
In it's January statement Kelso also said: "Kelso believes that the current stock market value does not reflect the underlying value of the sum of each of the main THG divisions. In particular, Kelso believes that the Nutrition business, which incorporates the MyProtein and MyVegan brands, could alone be worth in excess of the entire current market capitalisation of THG. This is evidenced by the valuations of deals in that particular sector in the last few years, caused in part by the shift in consumption away from chocolate and sugar to health and nutrition, a trend which we believe will continue ‘

Mentioned a couple of times this week ,I think it’s about being in position at the moment, we know ‘ stuff ‘ is about to happen but not sure exactly
There appears to be more II’s lining up as the clock runs down to the expiry of the Golden Share / premium listing and MM @ co are giving hints on social media to a USA listing of sorts

Exciting times

Could be S/B, something on the go.

Would be a turn up if we ended up 3 activists on the register - alongside Kelso

Take this with a pinch of salt but late on this afternoon in the City via Betaville - they call it uncooked so rumour, firewall if not subscribed but gist below

Frank Tuil ex Elliot Is rumoured to be one of the buyers this week
his vehicle is Sparta Capital

Also Palliser Capital have been accumulating

Both funds are Activists.

Let’s wait and see but somebody accumulating stock, unless an II on a long /short you wouldn’t want to be shorting this one, stuff is bubbling