Member Info for onsolidground

- Section 303 CA 2006 – ability to appoint or remove directors (5%+ / 51% vote)

May I suggest you study them and also research the actions that Boohoo took to remove and replace Bob Holt the then CEO at Revolution Beauty (John Goold, Kelso's CEO is a Non Exec there and imo the brains behind it)

"Public announcements:

• Use the RNS to highlight issues by virtue of being a public company

• Use social media to get points to retail shareholders

• Use the Companies Act 2006 provisions to help make change

- Section 303 CA 2006 – ability to appoint or remove directors (5%+ / 51% vote)

- Section 321 – require a poll at general meeting

- Section 527 – require to publish any matter of importance of a resigning auditor

- Section 314 – require a statement to be circulated to members

- Section 338 – require a resolution to be put before an AGM

• Work with top registrars on canvassing votes – a little known force

• Relationships with PE and trade to drive corporate action"

Section 303 of the Companies Act is the one to be watching for.

Now you know why Moulding and Monro bought their stakes in Kelso and to me it does read like a Pacman defence.

We weren't aware of the Kelso letter at the end of Octiber urging strategy update and demerger and I personally think John Goold at Kelso has been canvassing a few and word got back to MM.

Few can argue with the undervalue since there have not been any appreciable rises in the share price under the present Boards stewardship and nowhere near back to previous Bids. Two for Nutrition not made public.

It looks like a yellow card before they start using the Company Act levers that they have at their disposal or they facilitate a larger Activist to come on board also (Elliot Advisors) or hostile takeover.

Again the RNS highlighting the massive undervaluation.

That is just my thoughts.

Happy to hold and wait for the outcome(s).

If it turns out to be a Metro esque solution then I'll happily take the large rise in the share price that followed.

IN PFC's favour is its massive order book and present low Market Cap.

Another set of thoughts by a different broker and each differing from the other.

All still sitting within what we were told in PFC's RNS, which I have to say reads like a game of two halves.

"Management has been making progress in organic actions to unwind working capital, collect receipts on ongoing and new contracts and to unlock long-outstanding commercial settlements. In addition, Management is considering the sale of non-core assets, and is actively engaged in discussions with financial investors to take a non-controlling position in certain other components of the business portfolio. As part of an overall plan, these transactions would result in a material improvement on the balance sheet. The Company is also exploring potential new financial options across all its classes of capital.

The truth of it all is that everyone will have a different take on what they think will be the solution for PFC.

Berenberg quite clearly didn't know and batted both ways, neither do PH to be fair to them. Then the Baron investments tweet to be fair to them also seems closer informed that anyone else right now.

I'm not invested here to trade one article, then the next, then the next. I'm here to wait for the solution off a very low share price and with an order book to die for.

Plenty of football on tonight to watch so I'll bid you good evening.

I'm here beacuse of the low market cap, massive order book and

Good post but a presumption by PH that things would be done via an equity raise.

Other commentators (see earlier post - Baron Investments tweet) seem to be suggesting a Special Situations Fund buying a non-controlling stake in parts of the company and talks ongoing reference that. That would fit in with the strategic investor suggestion in the RNS and which would therefore negate any such need. Equity raise at these levels I personally think would be one of the last options and question mark? - why not done at 85p.

It will probably end up being a mix of solutions but at a present market capitalisation of only £105M says don't rule out a bid for the whole group.

You pays your money - you takes your chance.

Best we can do is make an educated guess on the information we get to hear about.

GL and have a good evening.

Black Friday – Online UK Sales data

https://fashionunited.uk/news/retail/black-friday-2023-marks-record-online-spending-in-the-uk/2023112572769

Lookfantastic Pop Up London

https://www.lookfantastic.com/house-of-beauty.list

1.5 Million views on tiktok

https://www.tiktok.com/find/look-fantastic-london-pop-up?lang=en

Biossance Purchase – Bought out of administration for $20M (£15M approx)

https://www.thegrocer.co.uk/healthcare-beauty-and-baby/thg-buys-skincare-brand-biossance-for-less-than-nothing/686052.article

The logic of the purchase

https://www.linkedin.com/feed/update/urn:li:activity:7137704654909378560/

Last Year versus this Year

This was the news that greeted most searching online for purchases last year. The UK represents approx 1/3 of THG revenue.

NOT THIS YEAR.

https://www.dailymail.co.uk/news/article-11541869/Packages-pictured-piling-outside-Royal-Mail-sorting-office-workers-continue-strike-action.html

And did I miss off the purchase of 3M Statue of a Gorilla for the reception @THG HQ.

How remiss of me

# Williams Racing Sponsorship Deal with MyProtein. Lets THG and THG Ingenuity access the C-Suite of companies. (See also Matt Mouldings Linkedin post for the reasoning of the deal)

https://www.williamsf1.com/posts/42d4f514-81b7-4114-acd2-5da4347ba00d/williams-racing-announces-multi-year-partnership-with-thg

# Asda Mobile deal with THG Ingenuity

https://www.prolificnorth.co.uk/news/asda-mobile-appoints-thgs-ingenuity-commerce/

# Loreal deal with THG Ingenuity

https://www.globalcosmeticsnews.com/loreal-partners-with-thg-ingenuity/

# MyProtein Ice-Cream into Morrisons

https://groceries.morrisons.com/search?entry=MyProtein

# MyVitamins into Asda

https://www.linkedin.com/posts/myprotein_retail-b2b-asda-activity-7125891844953006080-GRdQ?utm_source=share&utm_medium=member_android

# Myprotein Snacks into Iceland

https://www.iceland.co.uk/exclusive-brands/my-protein

# MyProtein Chuppa Chups Collaboration

https://www.foodbev.com/news/myprotein-unveils-chupa-chups-collaboration/

“The collaboration begins in the UK and EU this autumn, with further products and flavours set to join the sports nutrition brand’s portfolio in 2024.”

#And then of course that MyProtein Movement Ad (Not unsubtle with reference to the US either)

https://www.youtube.com/watch?v=y597sdT8PWM

Bid for Adore Beauty but turned down

https://www.sharecast.com/news/news-and-announcements/australias-adore-beauty-rejects-takeover-proposal-from-thg--15437300.html

tbc

Not done one of these for while but its handy just to keep check on what's been happening @THG. This one goes back to the last results (and the Gartner Quadrant announcement just prior) Busy last couple of months and we are now into the Golden Quarter with Black Friday - Cyber Monday and Festive trading.

THG named in the Gartner Magic Quadrant for Digital Commerce

https://www.thg.com/news/thg-ingenuity-named-in-2023-gartner-magic-quadrant-for-digital-commerce

THG looking to ReList MyProtein in the US. Certainly not denied in the Q3 Analysts Q+A

https://www.telegraph.co.uk/business/2023/10/15/thg-us-float-myprotein-nutrition-business-matt-moulding/

Results webcast – Listen to the 1st Question @ circa 1 minute in

https://stream.brrmedia.co.uk/broadcast/650d93e739ad9f961be9df87/652e379e60419d1d649d0a2a

Into 220 Sainsburys Stores with 14 products (MyProtein on Linkedin)

“ Oh hi Sainsbury's 👋

Yes! We’ve launched 14 products in over 220 stores

Go and help yourself to brownies, cookies, bars, oat bakes, clear whey and more!

Together we’re helping everyone eat better 🤝

Into Decathlon 11/10/23 (The UK has 50 of these) Tara Burke (linkedin) + MyProtein

““Myprotein launches in Decathlon UK!

Thrilled to have successfully launched Myprotein across all Decathlon UK stores. You will find a great selection of bars, snacks, protein powders & vitamins in your nearest Decathlon UK store.

This is only the beginning of our partnership and we have big plans to expand the range and bring you even more options to fuel your workouts and nourish your body. Here at Myprotein we truly believe that nutrition isn’t a one-size-fits-all thing and we are consistently striving to offer you a high-quality product that is more accessible than ever, whether that be online, in your local convenience store, grocer, sports store, pharmacy, or health store!

Get yourself out to a Decathlon UK store near you and experience the Myprotein range firsthand, promise you, you won't be sorry. 😉”

New MyProtein Kitchen opened 14/10/23

Https://www.manchestereveningnews.co.uk/whats-on/whats-on-news/myprotein-reveals-details-first-ever-27906580

Into 18Gym in Romania

“Really happy to share that we have just launched into 18GYM in Romania, with a full range of our protein snacks, powders and everything in between.

Great work Octavian Ciati, as always!”

Octavian Ciati

Thanks Phil Ainscow

There’s more to come 😁

tbc

It's always handy when a share rises and then falls without any clear cut reason to revisit the last news that you had in your knowledge base. So the recent RNS and then followed by the content of this tweet from 2 days ago. To be fair it also made Reuters and Apple News at the time.

Seems more than just having made initial contact. See what you think?

https://twitter.com/baroninvestment/status/1731648852761960715

Not as big as some of the recent days but its into the 28's again and it does seem to be following an upswing in the general market sentiment.

Anyone thinking it's probably the start of a Santa rally?

A good all round day so don't knock it.

Wrong interpretation imho. The MM's tip it to entice in the shorts and get the volume up for the stock they want. There is a buy order being filled in the background.

Tip it 20% on no justifiable news and see what you can pick up in consequence..

Enjoy your evenings.

Rinse repeat

Switch flicked topside of 25p and with the MM's manipulating things via 1/2 point spreads, backed by an algo and controlling the buy side. Been offered more than the Bid for every dummy trade I have tried since 1p.m. Happy to wait and add more for news of non core assets salea or other approaches.

Got a bit of catching up to do with the BOO or the FTSE 250 santa rally by the looks of things today. In fact we still haven't factored in anything for the sound business sense of the Biossance deal.

And they wonder why companies like TUI are looking to alight the LSE and go elsewhere.

Afternoon rally?

Decision is as good as made if you read the RNS.

Companies pay good monies to list on the LSE. £10Mill and more per annum. More for premium listing

If it doesn't work out for you (for whatever reasons - Hedge Funds, greedy market makers etc etc) then you take your business elsewhere.

Just look at the instant reaction today and it's almost worth just parking up in any company of a similar undervalued nature as an investment strategy and waiting for the Management to decide enough is enough and that the grass is greener, or as a minimum things can't be any worse elsewhere, then your quids in. That or a bid pops up.

Better still find an Active Investor who has already been identifying those undervalued shares and doing the work for you. There are just so many out there and I'm sat in a few, some silently.

It's definitely reflective of a growing trend of either relisting elsewhere or the undervalued companies getting taken over. Just look at Hotel Chocolat. Recently on lows of 100p then at 139p Mars bids 375p a share. Just shows how useless our markets are at valuing companies - particularly so with techies, internet based and anything of fast growth nature where you invest to rapidly grow to scale.

It's had me chuckling all day for you could see it coming and I think I even may have mentioned it on here and others certainly did.