Member Info for onsolidground

Maybe I missed it in the small print but at the Interims this was said on the cash position?

"The Group had cash and available facilities of £457.7m at the period end, and expects to refinance its existing debt facilities, largely maturing in December 2026, within the next 12 months.

Question 1. Why didn't he just fund the £75 Million from the existing cash?

Question 2.

Of the £457.7M shown above (and I appreciate it will have changed) all I can see mentioned is the £170M Revolving Credit Facility being moved across to Remainco as below.

The Group's existing debt facilities will stay with RemainCo, namely the €600m term loan B, the £137m term loan A and the undrawn £170m revolving credit facility.

In which of the two entities THG Ingenuity or THG Remainco will the difference in mainly cash I presume be sitting?

The Houthi's actually had active attempts at 2 ships today.

"Yemen’s Houthi group have claimed responsibility for an attack on a Liberian-flagged tanker in the Red Sea, which they said they targeted with 11 ballistic missiles and two drones on Thursday morning.

The Olympic Spirit was hit about 73 nautical miles (135 kilometres) southwest of the Yemeni port of Hodeidah, British maritime security firm Ambrey said.

The tanker, en route from Saudi Arabia’s Jeddah to Muscat in Oman, was struck on its starboard side, Reuters reported. The projectile hit the bridge causing minor damage, Ambrey said.

Four hours later, two additional projectiles reportedly detonated within 0.27 nautical mile of the vessel’s port side. A maritime security source told Reuters:

The damage is minor. The vessel has some technical issues, but it is seaworthy and continues its journey. They (the crew members) are all safe.

The Houthis said they had also targeted a vessel it identified as St. John in the Indian Ocean with a winged missile."

My prediction. Open level with todays close as its represents the start of the value unlock, and everyone now knows it's happening. Then a perhaps a gradual rise as people switch on to Sum of Parts valuations.

Oculus, Sorry, the Barron tweet I thought was associated with a valuation THG had ascribed to THG Ingenuity.

I'll pick up the RNS's in the morning and get the definitive.

What excites me Oculus is the opportunity to buy in the morning, the fact Ingenuity is going from the other 2 profitable businesses and then the valuation gap thereafter.

Sorry if I haven't made that clear enough.

Will pick up the RNS's in the morning.

That'll do me Rock8.

So that's the indicative discounted placing price. 48p / 49p. Just for THG Ingenuity alone. Would be handy to know what the discount was also to get the placing away -- as that's what they are valuing THG Ingenuity at.

THG whole - (Nutrition, Beauty and Ingenuity) closed tonight at 51.7p

Amers - wait for the Circular is the easy answer. It'll have fuller details.

You could have participated in a retail offer but that's now closed.

"Why would you end the retail offer at 7pm, if you thought you were going to struggle to get the shares away???"

Because its oversubscribed !!

Lighter discount also.

No idea Yorek but there will be plenty City institutions that have been privy to the Peel Hunt Report and know Sum of Parts valuations from previous and the fact THG is now unlocking - and with ESCC step up also happeneing.

THG are working off a valuation so hopefully the Placing / Open Offer RNS tomorrow states the placing price, how the placing went - and also importantly the discount to that valuation. That's normally how the any PrimaryBid RNS's come out.

I'll be switching decent funds tonight just in case they wish to undervalue all 3 divisions on opening now the unlocking has started.

Concentrate on watching the THG share price tomorrow and also the Kelso share price - thats the one you sold out of too cheap. Lmao

P# 1 #k

Moniman for once quit moaning will you.

You have the chance to buy THG Ingenuity shares independently in the Retail Offer and you also have the chance to elect come demerger time to rollover into THG Ingenuity on a pro-rata basis or you can substitute your THG Ingenuity shares for more THG Remainco shares (Beauty and Nutrition).

You have not just been completely included but given the opportunity to buy more in the private THG Ingenuity if you wish.

RNS tomorrow on how the accelerated Bookbuild and Retail Offer has gone.

Also here is what OMVK said in one of their quarterly reports.

"Some interesting information that came out of the negotiations was that in the eyes of Apollo the Ingenuity division alone merited a valuation in excess of GBP1.2 billion. According to this keen buyer, this business unit, which we’re least able to value accurately and for the sake of convenience put at zero in our calculations, represents almost the whole current market value of the company."

https://www.ovmk.nl/storage/downloads/quarterly-report-q2-2023.pdf

THG market cap at close of business tonight for not just THG Ingenuity but also for the other two highly profitable businesses of THG Beauty and THG Nutrition

Only £688.15m

Here's what Peel Hunt said

"Peel Hunt

"Peel Hunt used multiple analysts to compile the review, from Tech to Consumer Brands - recognising THG has 3 large, global businesses with different specialisms:

1. a very well-invested, Tech, Media & Logistics platform, with c4,000 staff globally

2. the world’s No1 Sports Nutrition brand Myprotein

3. one of the world’s major Beauty groups, encompassing Brands, Retail & Manufacturing

Many banks write research on THG, but it's rare multiple analysts with different specialisms come together like this. But for THG, it's the only way to ensure a true understanding of our group.

Here are some key conclusions from report:

✔ THG & the strategy makes sense

✔ THG is wildly undervalued on the LSE

✔ At 141p, well over 2x today's share price, THG would still be at a 50% discount to global peers

✔ THG shares should be worth 272p within 2 years

✔ As Ingenuity Sales reach £1.2bn (c£700m today), THG shares are worth 383p. If Ingenuity EBITDA margins also reach 15% (low single digit today), the shares are worth 452p"

****Forgive me for thinking that Peel Hunt and their 3 independent analysts, although they didn't know it, were actually part of the demerger process****

Here's what Liberum said on the Sum of Parts at the time of the Apollo bid.

220p

https://www.sharecast.com/news/broker-recommendations/liberum-lifts-thg-to-buy--13031358.html

Cong - whatever is decided as the placing price for THG Ingenuity - then THG should open at that as a minimum tomorrow and add to that for THG Nutrition and THG Beauty. - Sum of Parts

Plenty of detail out there showing Sum of Parts of circa 225p and upwards.

Shorts will have to cover big time imvho.

Don't worry.

For if you miss the closing bell for the Ingenuity shares placing you can always join the orderly queue in the morning for shares in the new THG of Beauty and Nutrition moving forward, highly profitable and without the massive Ingenuity Capex spends of previous years.

Primary Bid Retail Offers are not massive placings so it'll be in a first come first served basis.

I think it should be priced it at what Apollo valued Ingenuity at which was "significantly more" than the 65p that the share price was at the time. See his Linkedin post #NoThanks.

Then of course you have the detailed valuations off the 3 analysts in the Peel Hunt Report

It has had more Capex spent since the Apollo bid and it's had some really good contract wins since, and increasing of late.

Then what price for the remaining Sum of Parts.

How much will it adjust up as of a.m. tomorrow.

Shorts trapped in I'm afraid and caught completely on the hop. Can't moan that they weren't given advance warning.