Member Info for onsolidground

I had him as buying prior to the placing Brewman91 at the 3.4p to 3.5p and the placing would have given him the opportunity for more.

All purely for investment purposes (Lol)

OhhAhhCantona should it come to AGM votes then it's not improbable and especially if people reflect mainly on share price progress. I also suspect that any voting resolutions wouldn't just be against MM and it would be the direction in those other voting resolutions that imo provide even greater uncertainty and ramifications.

Take for instance Ian Mac's votes last time. Predominantly II's I suspect accounted for, what was it, 24% or so who voted against his re-election. Then add an appropriate % of the 35% Fast Cash and any others like OVMK, Kelso and whoever else they may have canvassed and gained support or allegiance from. Then say think about the likes of TGL, JG or any others. How certain could you be on any of those?

Short Blog today as he was travelling. Repeated the RNS and added the following comments at the end.

"I will update more with Chariot when I return but in the meantime this is very good news indeed from the company. With the drilling at Loukos onshore Morocco now imminent and a rig selected, success will be a game-changer for Chariot. The Gaufrette prospect comes first and then the Dartois, and with a combined potential of some 46 Bcf the opportunities are indeed substantial and also very quick to monetise with more to come.

Anchois has not been forgotten in all this, the new partner is bedding in, with farm-out completion shortly, and drilling will start later in the year along with the FID. With continued high prices domestically all these developments are increasingly positive for Chariot and I maintain my target price of 100p."

https://www.malcysblog.com/2024/01/flash-blog-chariot-jog-ujo-europa-gulfsands-beacon/

Hardman "Can't be voted out as CEO as has enough votes to maintain."

Just two points on his which you are welcome to come back on.

1. His Pacman purchases at Kelso says otherwise.

2. There are no Institutional Investors presently jumping in and supporting the share price.

1pencil the US markets are hitting all time highs. They are hungry alright. It's just THG that apparently isn't and I have to agree with the square root of nothing comment earlier.

TUI state their intent to review their listing, do it, then conclude Frankfurt is a better place for them. Flutter secondary list in the US then are looking to switch their primary listing to there. We repeatedly mouth off re various options, yet do nothing.

I'm not best happy with the sp crash as a result of the Iain Mac RNS, a drop of their own making, further drop after Q4 update and now also not one but two sets of redundancy negotiations underway. Just when we seem to start to pick up after the falls then up pops another banana skin.

The present sp is at unsatisfactory level and one way or another something has to give.

Kbyk I don't think TGL was ever absent. The rumour all stemmed off a comment on here but was never confirmed. Certainly hasn't stopped him being active at Balfour Beatty or at Price Harrys Charity. I don't know how he jugges al his time with Appearances in the House of Lords and with so many Directorships.

https://members.parliament.uk/member/4304/registeredinterests

You do know that when he was at ITV as CEO he was ousted many years back due to shareholder pressure.

https://www.theguardian.com/media/2006/aug/09/citynews.television

Its the fact that 60 of the proposed job cuts are at THG Ingenuity that is the concern. This was meant to be the go get solution to efficiency in warehousing globally and what with the specialist analytics, marketing and growth driven sales side across the back.

What would be really handy to know is if the sales and marketing job cuts relate to those staff who were employed to sell, market and expand the appeal and onboarding to THG Ingenuity itself, or indeed whether the proposed staff cuts relate to staff employed internally at THG Ingenuity to expand the markets and sales of those who have already been onboarded.

Both aspects would obviously be of concern but if it was those employed to sell and market THG Ingenuity itself that were facing the cuts that for me would be the more worrying and perhaps an admission that things are not progressing as they should be. If the latter case and the cuts were for existing business then once you do onboard more and more then you can scale back up your marketing and sales staff.

We might get more information over the coming weeks.

Two proposed sets of redundancies but lets also not forget that work from home was effectively cancelled and everyone was meant to be back in the THG offices from the start of January.

Polishcap,

Some of the same faces won't be on the Board in 6 months time let alone 3 years time if the present share price persists much longer. This all started with the dramatic tumble after the 2nd Jan Iain Mac RNS. Said they'd canvas shareholders who voted against Iain Mac at the AGM and would update within 6 months and that RNS was limp and inexcusably late.

4 Bids have been turned down in the last 18 months to 2 years. 2 for THG as a whole and 2 for Nutrition also. Board knows best though, undervalues the group and we stick to the strategy, and here we are at 66p. Now having patiently waited nearly 12 months / 18 months for the BoD's strategy to resurrect the share price - we have 2 recent sets of redundancy consultations announced. Here I honestly don't think Moulding helps the cause with his statements on seeking to retain majority control producing a stumbling block to further bid interest.

They need to get the share price up and the next update is a critical one. Seperate listing of THG Nutrition with steps and actions towards it the obvious route. Needs news imvho or Kelso return with another letter strengthening their resolve for a shareholder vote or requisitioning one under the Companies Act.

Something has to give imvho.

Definite cost savings Anacott and I second your thoughts for all the staff involved and hopefully they find replacement jobs quickly, either with THG or with other companies.

It may though be the first recognitions that the Board's strategy re THG Ingenuity is not working. Why they replaced all those smaller businesses and their GMV without ready replacement "whale" businesses in the imminent pipeline to step into their footsteps has always been beyond me.

Yes they have been picking up business with the likes of Matalan, Maximo, Holland and Barrett most recently (The RNS'd ones) but they have been much slower in onboarding than was anticipated, despite clearly throwing sales and marketing spend at it, and the rhetoric had also changed from "whale wins" which haven't followed to "layering" further business on top from of existing business with existing clients.

Not the greatest start to the year with THG which started with the Jan 2nd Iain Mac RNS, share price fall post Q4 update , Warehouse cuts planned at Omega Warrington and now this latest round.

Definitely needs some good news and share price moving news between now and May or there's an awkward AGM coming up in June. April seeing the 1 year anniversary of the #NoThanks Linkedin post that closed the door on the Apollo Conditional Bid approach.

Https://www.thetimes.co.uk/article/thg-planning-to-lay-off-160-staff-dt38wb9r5

Looks like a consultation has just commenced for 60 job cuts in marketing and sales staff at THG Ingenuity.

That's on top of the 100 at Omega (Warrington) previously highlighted on here.

The source is The Times.

Director buys again would be nice but you get the feeling that they have all now given up on these.

The THG Board have bought collectively more than any other company I know - and which on any other company would have significantly moved the share price up. (Moulding himself having bought over £30M for his charity, friends, family and self, TGL has twice bought from memory. Sue Farr likewise and so has Gallemore and Wife.

Yet its not done much for the share price, and indeed it's gone backwards since on many of those purchases.

*treasury*

Share Buy Backs would be nice. Buy the shares back cheap and either cancel them or place them in treasure for later purpose. But THG for some reason haven't to date bought any back.

Instead THG are quite happy to create and issue more and more shares and dilution into the market for Performance and reward purposes. Over 30 Million last year and this years announcement must be due anytime soon.

Hopefully I get proved wrong but Moulding + Co seem more intent on spending what could be share buy back monies instead on buying further businesses. (The failed attempt for buy Adore Beauty the most recent).

Just requires a little patience.

13:21 onwards

https://www.spreaker.com/episode/rising-consumer-confidence-cityfibre-sales-increase-hitachi-talks-renewables--58455315

This just sums up how broken and undervalued the present THG share price and market cap is.

Chapstick sold for $430million in cash and an $80million stake in the purchaser. Just Chapstick.

£112million in revenue in 2023.

https://www.thisismoney.co.uk/money/markets/article-13004965/ChapStick-sold-private-equity-backed.html?ico=mol_desktop_money

#Dosomethingaboutit

Thats Schall's suggestion 1pencil. 10min 10 onwards.

Totally agree with your comments in response Magnum.PI. You move the listing so zero impact on staff.

Anyway Softbank can mentor Moulding on exactly what the process of a US listing involves.

*His*

The MM video was played to staff first at the THG Xmas party so when the share price was 80p up to 89p zone, so if his comparison with David Beckham and Robbie Williams was meant for to be for the reason Joshua thinks and that being "USA bound also" then that comparison and resolve will have only got stronger. I do hope so tbf.

Good old Matt needs to get the share price noticeably up prior to May / June or it'll be an interesting run in to the AGM. Hi major shareholder support isn't exactly leaping to his defence at such low share prices. So does it even exist as he thinks?

That Softbank visit yesterday intrigues. What were we discussing with them yesterday?