Member Info for onsolidground

Btw I actually don't see it as a competition with the short positions on many occasions they target underperformance and I have learned over the years to use them to your advantage and particularly where shares get Oversold and Bids start appearing or change happens. like improving numbers or change in key personnel. Sometimes the pack and hunt in droves mentality gets overdone, especially when you have the likes of Mike Ashley also using it to accumulate 12.6%.

Lets see where we are in a month or so, or by next quarterly update.

With improvements and returning to growth on both divisions it becomes an inverted ponzi scheme for those last in on the pack mentality. New blood might not be so tempted and PI's know there ia bout £1.5Billion worth of underlying businesses there, give or take some overpayment but also critically that some like MyProtein have grown and developed and worth multiples of what was paid.

The problem by the way isn't Retail PI's, it's the Institutions and lending out stock. Probably some of the ones he has in his confidence sphere for the likes of Placings / Splits etc.

Scroll down and you'll see the value of the businesses.

https://en.wikipedia.org/wiki/THG_plc

Thanks Lucapizza and Money_mad for the AGM updates. Very enlightening.

"The retail beta program" + "new strategy". First time I have heard either mentioned. Perhaps they might share or maybe it's a counter short position ploy to crack on and improve and then mention. Also I did read an article prior to FTSE250 entry comparing many companies that had entered the same FTSE250 Index and their share prices had gone down thereafter in consequence of shorting so that didn't come as a surprise.

Lastly the insight on the analyst is startling. Not quite sure how you illegally short shares when you are an analyst, other than perhaps "naked shorting" and selling shares that you don't have, or perhaps getting your sister to short alongside a company position or account position. Or perhaps being an analyst you are forbidden from dealing in any shares.

Anyway for the first time in ages they are back to improvement in numbers at both Beauty and Nutrition so those short positions have a decision to make imminently.

Was anything at all mentioned on the Selkirk Bid?

You could be right The.Italian as they seem to be at an advanced stage of due diligence on a few companies.

It'd be nice to get some tomorrow at 364p.

Chances of that - NIL CHANCE.

Looks like nobody attended and can update.

Or, everyone had their phones taken off them as a condition of entry and had to sign confidentiality and non-disclosure agreements.

"THG plc ("THG")

Post the demerger of Ingenuity, THG now comprises of two principal divisions. The first being Beauty, where it owns the global beauty portals of Lookfantastic, Cult Beauty and Dermstore, alongside several beauty brands such as Espa, Perricone and Biossance. Revenue of the Beauty division to 31 December 2024 was c.£1.1 billion. The second division is Nutrition, where THG owns the MyProtein, MyVitamin and MyVegan brands. Revenue for the Nutrition division was c.£580.0 million to 31 December 2024.

It is Kelso's strong belief that these two divisions are worth significantly more than THG's current market capitalisation of £391.1 million. We are particularly encouraged by MyProtein's recent shift into offline retail and its product extension into MyProtein meals and snacks, including a new partnership with Muller. We believe that the market underappreciates this distribution-led growth potential of this offline move nor the scale of distribution, with products now sold in all of the UK's leading supermarkets and several large supermarket chains in Europe and America.

On 23 April 2025, the THG Board confirmed that it had received a proposal from Selkirk to acquire MyProtein, valuing the business at between £400 million and £600 million. The Board of THG rejected this proposal, citing a fundamental undervaluation of MyProtein. Kelso owns 5.4 million shares in THG (0.4% of ISC)"

Slight reduction in their holding from 6.5M last time I believe so probably trading their investment both ways with fluctuating holdings and with CFD's

Their Bid for THG Nutrition only was serious enough to be keeping on mentioning it.

Not wishing to be funny but as of todays improving revenue picture on both fronts @Beauty and @Nutrition - for the first time in years both together - then the longer it sits around here then it's a sitting duck for another approach. Ashley accumulating a nice holding also don't forget and he has the keys to a lot of pertinent "doors" in bricks and mortar retail for both Beauty and Nutrition. (Just using the trending term)

Enjoy your evenings

Shell are interested and it's not the first time over the last few months that they have been mentioned.

If they do decide to table a bid then I think £4.50 to £5.00 as an opener.

Sky News just covering the same story

It's not just the 20% that voted against.

It's the number that were also withheld which is about 4X as many as anybody else.

Gone within 6 months like Iain Mac and replaced with either Poppy Gustaffson or Lord Stuart Rose would be a result.

The market took it down to try and force the voting against key individuals, or thinking that any AGM statement wouldn't be so good and that this years guidance would be missed. But on the latter point the numbers have significantly improved. Certainly won't do Lucy Gorman any harm being CEO of both Beauty and Nutrition and it's just strengthened her credentials as a replacement for MM should he decide to revert to the shadows and go yacht hunting

Good news all round, though would like to have seem Moulding or TGL having stepped aside of his own volition prior.

Maybe an attendee will be kind enough to update later on the mood in the room,

I saw that comment also The.Italian.

It might serve them well in terms of asset valuation to have more than 1 shell company but if all you are doing is listing companies to bring in £7M or £8M investment to then bank it, earn interest, to pay the operational expenses whilst attracting a share price premium, then the market will grow frustrated if it doesn't see tangible result at some point.

Kelso may well be trading THG for I think they have reduced their exposure from 6.5M to 5.6Mill shares. Worth double checking though.

Barclays have been caught with their pants down, hence they have had to rush out a new target price to try and buy them time to sort theirs and client exposure.

Always ask why so quick?

With the improving growth numbers in both divisions of THG are they more likely or less likely to hit this years guidance?

Looks like a hooky broker note imvho.

Would like to see two of the Directors at least seeking re-election to be put on Notice that performance has not been good enough and with a high number of votes cast against their re-election. Sufficient that0 they have to engage with shareholders.

Lets see what the rest of the day brings.

Not so sure MA will be happy just yet as his empire put £10M in at 49p but he has been accumulating all the way down. So he will be getting happier.

Looks like they will be heading back into the FTSE 250 again at next review.

Might never have exited had they been more communicative.

Beauty I think has benefited from all the intense hot weather in the UK, in particular with expensive suncreams and associated products selling.

It dresses up yet another failure though in terms of money spent and not winning in the Asian markets and having to cut their losses. So exceptionals coming and probably product writeoffs as the containers and packaging will be in other languages so hard to recycle elsewhere.

My question would be, are they trying to buy themselves out of a hole by buying growth with the CLN monies, like in Holland.

Would dearly love to know what the cash balance now is?

Better, but at what cost the expansion and what exceptionals to re Asian exits.

No mention FCF or dividends, expansion with SPD and still noone accounting for the last years fall in the share price.

Might buy a little relief at the AGM.

I did likewise Carrington and added. Elliot are still there and I think it will ultimately get bid for.

In 6 hours according to Trump. You couldn't make it up.

I wonder who knew about that one prior !!

And Iraq also targeted. Iranian media calling it Operation Annunciation of Victory.

Most of not all seem to have been intercepted though.

Lets see where we are come 8a.m. tomorrow.

Sky reporting Qatari airspace closed and reports of explosions near Doha. US Airbase there is what they are saying.

dyor.