Member Info for onsolidground

*Pond scum*

That you would think 1pencil.

It is examples like this that highlight the sham or fug azy market that the UK is and how others like UK Pension Funds are investing everywhere else other than the UK and why other companies are choosing to delist or relist elsewhere.

The number of new listings this year choosing the UK for its primary listing has been pitiful and its an ever decreasing circle.

Please refer to to MM's posts on "Overfishing" and "Pond Ccum" posts.

Never a truer word spoken imvho.

Thanks SP28,

Its not only Beauty valued at Zero,

It's a fast expanding THG Nutrition valued at not much more than Zero either.

Next Capital Event can't be far off or lets get the MBO done sharpish or at least relist THG Nutrition elsewhere so we can start to show how undervalues THG has been.

Their share price up 15% in after hours as they raise their guidance.

https://www.msn.com/en-us/money/markets/shares-of-elf-beauty-surge-15-after-company-raises-full-year-guidance-on-surging-sales/ar-AA1eErid

3 REVB Directors buying shares with their own money? Are we following a similar sales path.

"Tesco is a key strategic account for THG Nutrition & Wellness with huge headroom for growth."

You might not be wrong.

Https://www.thegrocer.co.uk/tesco/tescos-call-for-healthier-suppliers-sets-the-pace-for-a-better-food-system/681533.article

The phrase red rag to a bull springs to mind...

Worth keeping an eye out at Tesco, They (Tesco) were pushing the healthy eating agenda only a week or so back.

Now up pops this job advert.

Could it be more products instore perhaps: snacks, bars, drinks or could it perhaps even be the Cereals, Yoghurts and Cheese we are waiting for? They did highlight at the time to watch out for more products showing up in supermarkets.

https://www.linkedin.com/jobs/view/3671341054/?refId=xFfmhf4YTwGkmqWTVouk7Q%3D%3D&trackingId=xFfmhf4YTwGkmqWTVouk7Q%3D%3D

There was a 1 Million Buy at just over this price last week.

If there any buying going on behind the scenes then its hard work as nobody is selling.

GS gone

Dubai Trip

Icon, HQ sale?

SP about 70p under the lowest of 2 Bid rounds at THG. Apollo must have been significantly higher.

Sum of Parts - lets just say you can have Beauty and Nutrition (£2 Billion revenue businesses between them FOR FREE)

Trading Update,

Closure of loss making division completed.

MP Expansion all over the shop

.... need I go on....

The one day you are not holding any shares then up pops the next Capital Event.

Next one I suspect, given the CityAM purchase, will be the real deal.

GL one and all.

Nice to see my interests in Jet2 and EZJ starting to recover some ground now there are full flight schedules again and the UK weather being so dull, wet and depressing that it makes you crave sunnier climates.

Best advert of them all in my view.

I'll let you off with that one Isnip given you lost £6K on Cineworld yesterday / today.

Even though diplomacy costs nothing all bulletin boards sadly seem to have their fair share of Wayne Kerr's. You're better than that.

LBUK let me pick you up on a few points.

1. Point 1 noted but who says any acquirer would already be FCA approved or wish to be. Plenty Internet banks out there offering top rates that are not. See Point 4 in any case.

2. "pricing is not just about current profits, it's also about future risks... the cost of living crisis and rising bank rates both increase the risk of defaults and risks reducing Metro's security as LTVs in its current mortgage book will be impacted by falling house prices.

Let me just rephrase that "pricing is not just about current profits, its also about the potential for future profit (as well as risks)... you missed a bit out given how MTRO is presently travelling. Reference the cost of living crisis. Not done too bad thus far have they and perhaps the worst is over. CPI last time was down 1% and I personally expect it to fall again next month as HMG have been working on supermarkets / suppliers, and the energy price cap has already fallen and I suspect after CNA's vast profits, and those of other energy companies it will again fall further when its next reviewed in a couple of months. The METRO mortgage book next. The quotes have been mentioned on here several times and thats for how sound the mortgage book is (in fact the envy of most) with a high proportion stretching to 18 months to 2 years down the before remortgage is required and so therefore limited risk of default. Net Interest Margin next, you would think will improve further with any further interest rate rises as it should fall virtually straight to the bottom line if savings hardly improve alongside it.

3. Pricing, yes it is more complex but I caveated that in my comments and am showing a rule of thumb that at a >10% return this starts to get appealing to Suitors. In fact you could argue >8% is appealing.

4. Reference the losses, handy you mention those for they are there to claim and offset against any tax due on profit. This year they will come in handy don't you think? Again something that also appeals to any potential suitor.

Your post was imbalanced to the negative side hence the counterargument.

I won't reply further as I am very happy with the results today and where it puts MTRO presently. Couldn't agree more that it is undervalued.

Undervalued, even at a most basic of levels

If the Market Cap is sat at £208 Million (Fundamentals tab above)

And you have a business that generates £16.1M pre-tax - for only Half of the year.

So say £32.2M pre-tax - for the full year. (I'm certainly expecting a stronger 2nd half.)

It's all profit btw if you switch your registered office to the Channel Islands or another tax free haven.

Today's share price and market cap buys you a business that returns you roughly 15.38%

That's exceedingly good value and a nice little picking for say a US Internet bank wishing a profitable high street presence or for PE who can enhance value further or expand the now profitable format.

Hit 140p when considerably loss making and Carlyle appeared.

But now the numbers are beginning to speak for themselves.

When you have a major shareholder who has acquired over 27% and another who has just bought 3.14% at 30p plus then people just switch off and do other things. Becomes self defeating of the market makers to lower the price, and most of it has been done by ridiculous spreads. Not many selling to be fair and I can't make out whether they are trying to fill another buy order in the background or do themselves out of jobs.

Was at 140p just after Carlyle were interested in November 21. That was when it was a loss making business.

MTRO now reporting 3 quarters of profitability and a streamlined and strong first half.

Happy to hazard a guess that Carlysle or another PE will return.

Should be booking my holiday money at TravelFX in the next few days. Always one of the best rates and free delivery to your door if over £750 converted. (owned by MTRO)

No. Not down anything on TUI and in fact I've called it right since 500p and my history on here backs that up, and on several other occasions with the likes of ToddJustin and c24 (same person imo) I've also called it right against there perpetual deramping. I also have the diplomacy to not vent frustrations on a public bulletin board given it is just that.

Maybe see a doctor for a prescription, switch the screen off or sell up if it is getting too much for you. Health over wealth any day of the week.

Wouldn't have been bought if we couldn't see instant value and the ability to add value. That's at a time when we are exiting loss making buinesses. Banked roughly £3M off the sales of ProBikeKit, Zaavi and IWOOT (£4M - A small 7 figure sum..)

"It’s true, we’ve bought one of the UK’s larger newspapers, CityAM. All media, from Instagram to Vogue, are middlemen between consumers and brands. Content brings consumers, and brands pay to get in front of them.

THG spends over £200m a year on speaking to consumers. We spend huge sums on media, but we’re also a vast producer of content ourselves. Both Myprotein and LOOKFANTASTIC.COM produce their own magazines, with ABC circulations of c550k per edition - huge audiences by any standard, dwarfing most magazines & newspapers.

CityAM has a monthly reach of 2m people, and a print circulation of 250k a week. It generates c£5m of ad tech revenues, but has recently been loss making. THG’s existing media infrastructure brings c£1m pa of synergies, returning it to profit. More importantly, THG Ingenuity immediately solves an underinvested digital offering. The Lifestyle and Sports content complements our content for huge global audiences in our Beauty and Nutrition apps, and THG Ingenuity can benefit from market leading relationships at CityAM...." MM's Linkedin post.

Think App and think what THG bring to the party and will benefit from. Far better VFM than being the sponsor on a Man Utd football jersey or The Derby.

Therein perhaps lies the limits of your understanding of how they operate.

We'll agree to disagree.

Manifesto, if the purchase price of CityAM was £1 Million or less then by comparison with THG's revenue then it would not be deemed materially significant on the share price and therefore does not merit an RNS.

The press got the story, prior and after the deal was sealed. MM used Linkedin a) to confirm the purchase and small 7 figure sums and b) to explain how it would fit in to THG and Ingenuity. This was the correct thing to do.

Additionally you may not have been onboard here at the time but in a previous Investor call MM pointed out that all RNS's have to be unanimously agreed on by the BoD prior to release (plus normally Legal and the Nomad) By therefore going down the Linkedin route he (and all his staff who are also posting useful updates) don't need BoD approval.

Don't get yourself drawn into any "Matt hating" Rocky road agenda's here. The fact of the matter is that virtually every bit of THG Nutrition news, and better understanding of all other parts of the THG business, have come from enhanced communication outside RNS. So all the MyProtein frozen food launches into Iceland (ready meals, pizzas, ice-creams) and of course what else is to come (choc ices, lollies, cereals, yoghurt, cheese wtc. Also rapid expansion of MP snacks bars and drinks launches into Gyms, Boots, Asda, Airports and all the ramped up European and global expansion in Japan, Germany, Spain, Portugal, Finland, Denmark to name but a few.

Highly unlikely any of those informations would have individually come in an RNS or seen the light of day so there is a place for both and the share price is reflective of that very fact.

Incidentally Kelso also make use of both RNS and Linkedin. You should make use of all the channels available to you.

Chill whilst we wait for next news or move up. August top up territory for me as of tomorrow and next tRading Update gets ever closer.

*storts* should have read *shorts"

Although I was tempted to just leave it and let it be an abbreviations for "short and distort"

If the volume continues then its shaping up for the lowest volume day that we will have seen in years, if not since listing.

There are many participants in any market, long term holders, retail PI's, fast cash, longs, shorts, analysts, media that all contribute to the share price but ultimately across the back of it all, where the share price ends up resting at the end of any given day, week, month, year is down to the market makers and how they move things via the spread.

Volume seems to be suggesting ours is presently broken. The negative narrative seems to have all but stopped, storts are exiting and since "40% Ouch" most seem to have been losing money, so surely we must either be waiting for positive news bit by bit to reset this back up, and or accompanied by the spread to more reasonable and realistic prices.

Failing that we surely just bide our time for the next Capital Event, that's next Bid or an MBO.

There's something clearly wrong when you have two sets of bids at 170p and higher, off Private Equity (That know its worth more and are in it to also make money) yet you are 65p under the lowest - and with the Golden share now gone, and off the last "ahead of time" Trading Statement.