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I'm actually trying to help you but I'll leave you to it with your views and scepticism. Kelso were who initially published the undervalue on Nutrition umpteen times and it is their efforts (over the virtually NIL self publicity THG do) that attracted in Apollo.

Watch what happens at NCC and with Selkirk Group. (Or elsewhere if their bid does not get accepted).

That SPAC has been set up for a purpose and they haven't telegraphed the strategy change without good reason.

I wish you well with your investments.

Shabz, have you just joined us or come out of hybernation.

Research Kelso and the personnel at the top and their links to Private Equity and all their skill sets. Particularly John Goold, Mark Kirkland, Sarah Rajani and Nigel Knowles.

https://kelsoplc.com/who-are-we/

And also be aware that on the 24th September they just set up a SPAC - Single Company Acquisition / Company Vehicle called Selkirk Group. You can find it listed at Companies House or in their RNS's. Then 6 days later they issued a Strategy Update and Interim Results. Clue there is that they were updating their strategy.

"· Alongside its core investment approach, Kelso will now look to seed and invest in listed single company acquisition vehicles which target both listed and private companies as well as divisions of undervalued UK businesses where we believe there is considerable upside."

Then also be aware that Betaville one day later (27TH sEPT) released one of his "Rare Alerts" where he had tested the story with well placed sources and posted this.

"Kelso Group Holdings, the activist investor, is said to have submitted a takeover offer for a sizeable part of NCC Group, the London listed Cyber security business"

https://www.betaville.co.uk/

NCC have a market cap tonight of £523.52m. Kelso's have a market cap is only £14.27M.

I think in the not too distant future, they Kelso (and NCC), might be silencing many of their critics once and for all. You decide how much of £523M a sizeable part of NCC would be.

Then just last week up popped THG with a mere £100M valuation on THG Ingenuity?? Apollo when they bid valued it at "significantly more" than the full THG whole group share price at the time of 65p.

Watch this space at NCC and Ingenuity has imvho just added itself as a potential candidate for Selkirk Group, and also for Private Equity.

dyor.

These are a great idea for those having to eat on the hoof and without staff canteens or the ability to hot a local cafe, and some right tasty flavours in there.

Great for office staff, call centre staff, school lunches and for anyone with simple access to a microwave.

Credit where its due and I like.

I'm now back routinely buying MP frozen ready meals and bars, snacks and treats and would dearly love to try them.

Should extend to Tesco in the UK in due course, or Iceland, or could it be Morrisons or Sainsburys.

Thanks for posting.

Frasers I strongly suspect knew the raise was coming so just hung back and waited for the announcement. Would not have gone down well with the supportive LTH's if they had appeared in the founding bunch of Newco when they were not on the shareholder register.

If you track back on virtually every partnership they have announced then they have bought into the company not long after the partnership. (Boss, AO World, Currys, Boo, Asos). Fact.

They then go on to increase their holdings. 1% isn't anywhere near what they normally stakebuild so my guess is they will pick up substantially more. Probably are as we speak.

That's why it was slightly surprising that they never showed up with a THG share register pre-placing. But it's probabl;y explained itself now.

William Hill's have Trump as the 8/11 Favourite to win the US Election. Not been a good week for KH on her week long standalone tbh.

First think Trump would do is get on Air Force one to Moscow and have a one to one with VP. Then we would see a massive peace dividend on here.

That's why baroninvestments have flagged it as they have.

Plenty smart money will move in prior if it looks more and more certain.

When they make it so appealing !!

Worth keeping an eye on imho

https://news.sky.com/story/an-israeli-attack-on-irans-oil-bases-could-have-massive-repercussions-and-may-help-trumps-chances-of-winning-election-13232920

Quite a lot of developing news on this so not just me thinking it.

https://news.sky.com/story/an-israeli-attack-on-irans-oil-bases-could-have-massive-repercussions-and-may-help-trumps-chances-of-winning-election-13232920

And this link

https://www.telegraph.co.uk/us/news/2024/10/13/iran-threatens-us-troops-sent-to-defend-israel/

Just been catching up on the weekend and I think an Israeli retaliatory strike on Iran is getting closer.

Reasons.

1. The US is deploying another Terminal High-Altitude Area Defense (THAAD) battery and circa 100 personnel to operate it, to Israel.

2. Weekend rhetoric that Israel has identified a series of potential targets.

3. Iranian comments

"Iran has “no red lines” when it comes to defending its people and interests, foreign minister Abbas Araqchi said in a post on X on Sunday, as the region braces for Israel’s retaliation following Iran’s recent missile attack.

Just my thoughts and please dyor.

Just one final comment from me on the potential for an alternative bid and it concerns the #Nothanks MM Linkedin post and the reasons for declining the Apollo Bid. Incidentally that was based on canvassing >50% of shareholder support back then and that Bid according to OVMK was in the 200p - 250p region and also valued Ingenuity alone at significantly more than the 65p share price at the time (Read the Linkedin post).

That Bid was declined and these comments are in there.

"PE firms usually want majority ownership. We’ve been clear: don’t bid if you want 51%, plan to use debt to leverage up, or won’t allow existing shareholders to stay invested. This rebuffs most PE firms.

If you read that full #Nothanks post you'll find Apollo didn't want controlling equity rights on Ingenuity (Only on Beauty and Nutrition) So that's a tick.

Now note also the changing goalposts that its not only the placing route for Ingenuity but also that very Debt route with Ingenuity that was previously a barrier. So that's now a tick.

Apollo also at the time were even prepared to let people rollover. It's in the post. Also a tick.

So in theory they could make a play with a another offer and if it improved on what's presently on the table it would be hard to turn down and not put to shareholders and given the dismal share price performance I wouldn't bet against several LTH's being now inclined to take it.

18 months of bids refused and failed Board effort to resurrect the share price to anywhere near the "significant undervalue" of company. Share price 47p.

Just my view.

OhhAhh - only £33M raised from friendly out of initial £75M placing monies I think indicates that if a better offer comes along then it'll have to be put to shareholders and the outcome might not be as you think. That's only equates to about 44% initial support and there were some big names missing - like QIA.

Yes others have come in since but it's swift and easy quick profit for them if a better offer appears.

Apollo must be sorely tempted. Other Private Equity must also be tempted. Kelso must be thinking they also can work a deal that improves. Private equity could easily fund the full £150 Capex spend for Ingenuity on a 2 year timeframe and without recourse to any bank debt.

If so there would be a Fiduciary duty on the BoD to put it to shareholders - old and the 14% newly onboarded.

Personally I think THG is at it's most vulnerable point for a takeover between now and the next 8 weeks or so.

Just two differing opinions.

When we get to I think's it's probably time to switch off for a bit and go and achieve for the day.

Rocky M8

Save us your Faux concern we know that you presently hold NIL shares and the demerger is non applicable to you.

How many multi-Id's are you running with now. Used to be Hades 1 on advfn and gawd knows how many others across both platforms?

It's a valid question.

With 1/3 of the business moving into Private ownership and management.

Should the BoD that switch to Remainco only pick up 2/3 of their previous salary as they will only have 2/3 of the present THG whole to manage?

No idea what happened there. 2nd try.

I know I touted the low valuation of THG Ingenuity last night and the fact several including MM were happy to effectively underwrite and soak up the shares of anyone who wanted to elect 100% Remainco as maybe a reason to go the Ingenuity way.

On the other side though, yes £77M - £80M of FCF for Remainco and huge savings on Capex spend but a point nobody has really touched upon is that the Salaries and wages of some 4000 staff switch from Remainco to THG Ingenuity Newco. Given the number of £25k to £100k salaried individuals across the tech, marketing, sales and management side that should amount to a substantial saving year on year for Remainco.

Does it also mean that if 100% of Ingenuity is going private that the Board of Remainco should take a salary haircut?

I know I touted the low valuation of THG Ingenuity last night and the fact several including MM were happy to effectively underwrite and soak up anybody the Ingenuity shares on anyone who wanted to elect 100% Remainco as maybe a reason to go the Ingenuity way.

On the other side though, yes £77M - £80M of FCF for Remainco and huge savings on Capex spend but a point nobody has really touched upon is that the Salaries and wages of some 4000 staff switch from Remainco to THG Ingenuity Newco. Given the number of £25k to £100k salaried individuals across the tech, marketing, sales and management side that should amount to a substantial saving year on year for Remainco.

Does it also mean that if 100% of Ingenuity is going private that the Board of Remainco should take a salary haircut?

Those are the 3 option on the table.

Or you can always sell up what you have and leave - Option 4.

Or buy more cheaper than the Placing price and what Frasers Group, Matt Moulding and all the placees paid - Option 5

To be fair the counter argument will be that they a have provided all options to everyone.

Its just some might be sighted of the next cards on the deck.

Who bought and who didn't, and how much may provide some level of guidance but remember this was only for the Placing moneys and how they all elect with their holdings comes later and will be after both you / us and they have voted on their election.

I'd be interested in OVMK's thoughts given they seemed to have been privy to Apollo valuing THG INgenuity at £1.2 Billion.

Ephemeral Ingenuity has been so criminally undervalued imvho that MM's £10 Million and his matter of factly anything else he and others need to invest to underwrite those electing Remainco is a success. Leases went that way also and debt didn't. Shrewd move.

He'll have made absolutely sure it has sufficient funding for two years minimum and there will be contracts coming (some further ones in all probability with Frasers) that he knows about.

It's the one, Ingenuity, that will probably be the biggest winner should you be able to hold for 2 years or so. The new Chairman and CEO also have their heads switched on and are starting to pull in a succession of good contarcts that Vivek couldn't do.

My only hangup on electing Ingenuity is that they seriously underpublish anything to do with Ingenuity - to virtually NIL and when it's gone private you will get even less RNS's than you get now or on @ THG present day. No regulatory undertaking to do so. In fact it could be NIL - absolutely or at best 1 or 2 updates a year in a shareholder newsletter. Lack of update communication would be my major hang-up.

Matched bargain trading is also a hang-up. No details till more are known but understand that you won't be able to exit with a click of a button like now. You have to pop your shares onto the platform and then wait for a buyer. Can take days, weeks, month - particularly if accompanied by a dearth of information and updates.

So let me just test the water - How much information have we had on the opening of the most recent New Jersey / New York Fulfilment facility? How many pictures, an updated site visit? or Who can tell us all in an instant where Ingenuity's 12 Fulfilment Centres are in the World? In fact there is conflicting info saying there is 18?

Perhaps if it was less "blind" investing then I'd be sorely tempted to just go full Ingenuity for a comeback US listing in say 2 to 3 years time.

Everybody will decide on their own personal circumstances and indeed their own appetite to risk.

Moniman it was actually a serious question.

Has he genuinely passed away?

Anyone got any links to Matt Moulding on social media or can they confirm otherwise?