Member Info for Okehurst1

I sold none - has no bearing if I hold or sell

Makes no difference what us little PI’s do / think / say - good to share data / thesis
the big boys move this one, THG are in play .

In a perverse way his actions show the Activists joining the party have got to him
Plus he must be getting pressure off the II longs - share down 90% plus

He would have been better off head down and say nothing - be regal like

Hope

Your post made me laugh - Black comedy at its finest :-)

HH

Post of the day

Onsolid, he could do with a big RNS to take the heat off him

I shouldn’t be as he has form but was surprised with the content of the post

He should sign off ‘ am Spartacus ‘

Steve
I wouldn’t worry about the pennies

THG in play, sit back, this is going one way …up

The big boys are driving this one now

All subjective now

He’s got a wealthy activist group on his tail and after today we can guess a load of II’s are well cheesed off

Moulding on borrowed time unless he pulls a big deal off

Win win for us

Holy, it wouldn’t be a bad thing

We invest the £100M in Nutrition/Beauty less
Maybe £40M to debt on top of the other £40M from disposals

Moulding doesn’t help himself

No mention of am sorry I mislead the market 7 weeks before Xmas then sprung a £20M loss from On Demand

Just one technical point on his 2000 head reduction

If that £100M saving was a reoccurring saving then it would show up in 2023
as such it’s another ‘ one off’

Go through the accounts to see how many ‘ exceptional ‘ losses there are each year

Am not saying the 2000 head count didn’t happen only other costs went up

For Ref brokers have it in at £20M net net not £100M reoccurring if that makes sense ?

As I say he brings all this on himself rather than be straight up

Fair comment HH

It looks like he’s upset the 70% of shareholders who got diluted and didn’t have the inside track to buy shares off SoftBank for 39p or enjoy the £800M bonus in shares
nor he’s still picking up his £20M annual rent

No mention of that

£29,000 per person bonus not bad

He’s on the ropes Steve

Hi canary

Normally there are time terms on the subscription, when you can sell etc
by the looks of things there is warrants in there as well , how it’s normally done - not one for us PI’s

The 25 are not after a quick buck, they have a game plan

Very interesting development this week

John knows the assets inside out having been on the inside

This looks like a SPV vehicle for the 25 investors - they could just buy shares themselves

Whatever their ultimate game plan it’s to create value for THG shareholders and then themselves within the SPV by buying out / arranging finance to grow same

Can’t see this SPV being general, too many egos to agree multiple targets

… or reverse Ingenuity ?
Arms length supply contracts with Beauty/Nutritional

Then do the SPAC ?

£2.2B revenue plus whales

Raise funds for capex for the upgraded SaaS platform

It’s the FCF from the 2 profit centres
They need cash to grow

Nutrition is a Gem of a business

Nb charge both divisions the same as others and we have £2.2B , say £22M
Covers rent

But Ingenuity still needs big $ for the SaaS platform upgrade it’s serious money

Check out Citi Ste
They are in at 1% GMV following meeting management

£131M EBITA top range

Long slog though Ste @ 1% EBITA margin
£20M rent
Plus capex at 5%

Look at last years results even H2 hardly any growth

That’s the numbers

Agree, it’s a long slog.

I don’t think the SaaS element is not fit for purpose, it probably is for the smaller clients who make up the £200M

It’s the big so called Whales, this is where is capex is required, funding the platform to satisfy what they want from it .

No prob S/broker