Member Info for onsolidground

We know whats coming Manifesto.

Thanks for keeping us updated.

The smart ones I suspect will only be topping up and holding.

Thought yesterday we might see some Kelso comment this morning. Always nice to have an Active investor or two in your corner.

Excellent numbers off Ryanair and following the industry trend

The sector today though seems to be marginally down and caught up in the Rhodes repatriation flights by many airlines after the fires and due to the searing heat.Hopefully nobody gets hurt or injured as a result and it is definitely the correct thing to be doing.

Should be covered in virtually all holiday and flight paperwork by a force majeure clause or "act of god" clause. Its then you hope you have holiday insurance coverage.

That said 2 weeks of on and off solid rain here will be putting many in search of some summer sun elsewhere.

These are excellent numbers.

The sector today though seems to be marginally down and caught up in the Rhodes repatriation flights by many airlines after the fires and due to the searing heat.Hopefully nobody gets hurt or injured as a result and it is definitely the correct thing to be doing. Should be covered in virtually all holiday and flight paperwork by a force majeure clause or "act of god" clause. Its then you hope you have holiday insurance coverage.

That said 2 weeks of on and off solid rain here will be putting many in search of some summer sun elsewhere.

My perception and the raising of the question itself says it was possibly you that copied it across off advfn from Billionaire Bob. I got it off Linkedin through Mark Lees after seeing the reference here.

Shame on you if it was you and you forgot his name as this guy is going to be handy over the next couple of weeks given his role as Senior Account Manager EU Territory and he seems to be involved with the bigger deals.

Blert its Phil Ainscow you mean, 3rd up from the bottom on all the positive news for the last 7 to 10 days thread @THG.

"Mention of Ashley as a possible suitor.

https://www.bloomberg.com/opinion/articles/2023-07-13/thg-group-could-be-a-catch-for-billionaire-mike-ashley

Sale of the Icon HQ for £250 Mill progressing with named suitor. (Please link to the STE2000 thread from last night)

https://www.propertyweek.com/news/thg-ceo-moulding-to-sell-the-companys-250m-manchester-hq/5125868.article

Kelso updates on its THG Investment

https://www.lse.co.uk/rns/KLSO/investment-in-thg-plc-update-bk29gfqp1azz3on.html

Two Kelso Directors buy 500,000 shares each in Kelso (whose sole investment is THG)

https://www.lse.co.uk/rns/KLSO/directors-dealingspdmr-shareholding-ibxnwgwxgnjyp15.html

Expansion into two large retailers in Finland and Portugal (Phil Ainscow - Linkedin) Kesko have 1300 stores and Wells operate all over Portugal and seem akin to Boots, and more coming in Q3.

"As we enter Q3 (can't believe I'm saying that), its time to reflect on some of Q2's retail launches on the continent. Our amazing Beauty range from Myvitamins can now be found in Wells stores across Portugal and a wide range of Myprotein bars have launched into Kesko (K-Market) in Finland. Looking forward to announcing Q3's launches....

20th July – 3 New Products launched into India in the coming weeks.

Those being Clear Whey, Pre-workout, and Keventers verticals…”

"Additionally, ensuring the taste profiles of each consumer are met, the low-sugar Clear Whey, which delivers an impressive 20g of protein per serving, will also be made available in flavours such as Pineapple, Blood Orange, Mango, Coconut, Cranberry Raspberry & Peach tea. Similarly, The Keventers butterscotch flavour will also be launched and made available for Indian consumers, making it a protein-rich butterscotch alternative for fitness enthusiasts...The exciting flavours will be reaching Indian shores in the next few weeks, following clearance from the APHA and FSSAI." (Sudeshna Sha - Myprotein)

Sale of the Remaining loss making On Demand businesses for £4 million cash

https://www.thisismoney.co.uk/money/markets/article-12323405/Online-retailer-THG-sells-OnDemand-division-ProBikeKit-4m.html"

Just remind me why did this fall on Friday??

Great posts today off SP28, zstarz, manifesto and many others today. Might be worth you reading them Blinky as you might miss out.

Not to worry though as I'll come find you and let you know 10 minutes after.

BBH, there won't be any suspension as the FCA don't have that in their armoury and in any case their involvement pertains to legacy issues which have largely been resolved, and REVB had them independently investigated already.

It's might be a bit beyond you but you should read the RNS's from about January onwards for the investigation outcome and whats been done since, and also if I could recommend you to read the highly informative posts and research that Hosai has done and particularly the FCA Handbook. These matters are normally dealt by way of a fine and or fine and barring of the individual Directors. There are a lot of mitigating factors in there and REVB tick most of the boxes for a reduction.

REVB will continue to fully trade throughout so I'll be holding on to all I've got and looking to bag a few more.

I also fully expect BOO to buy more and make a play for REVB at some point. If not them, then THG or ELF.

Blert too much news in the last week to 10 days alone and theres no justification for Fridays slide other than manipulation. There is something brewing here and its more than a 40% Ouch for some.

GL and you only make the gain if you are holding.

"Yorek.... Really..... !!"

Exactly Manifesto

Yorek, thanks for the compliment (if it is that) but I am not Hades1 and I don't post over there.

I barely have enough time to keep up here. I've posted on here previously who I'm virtually 100% sure that poster is.

Thanks for that reply Okehurst.

Have to agree that most of the issues are Legacy and already covered by the independent report REVB commissioned and have been strengthened processes, Corporate governance and reinstalling integrity ever since, sufficient to satisfy the lifting of suspension. The only had two "main" work streams outstanding were 1) the negotiations with Tom Allsworth to get a reduction in the the overvaluation of the Medichem business as per the independent valuation of the deal. (Positive if so) 2) being a Letter that REVB had served on Adam Minto (possibly the main culprit imho) to recover the costs attributed from any wrongdoing and putting them right. 7th July deadline for reply but I guess the GM business sidelined that. That tally will get added to.

So yes most of the donkey work has already been been done in terms of correcting things and they can willingly hand over the McFarlane FRA Report and update on all the work done since.

I'm sure ultimately it will result in a fine of some sort for REVB. Obviously the FCA have poetic licence here in anything they decide, but it looks like the revenue concerned normally is the starting point. They then decide which band to put it in based on a large number of mitigating factors. For me BH and EL Board are replacements and have ticked a substantial amount of mitigating factors boxes that reduce this into the lower bands.

If I read Hosai's postings off the FCA handbooks correctly and his workings out then it could be somewhere between 0% and 20% of the revenue concerned in the fudged figures, (circa £9Million). The bandings fyi are (a) level 1 - 0%; (b) level 2 5%;(c) level 3 - 10%;(d) level 4 - 15%; and (e) level 5 - 20%. The mitigating factors move it up or down the bands are for instance promptly notifying the FCA, the level of cooperation they give, steps taken to remedy any breaches, previous company good behaviour etc etc. A significant amount of these positive ones REVB tick the boxes. Others detract like previous FCA improvement notices, but I'm not aware of any of those.

My gut is that they will be gunning for the previous Directors (Minto, Allsworth and the previous CFO) and can impose personal sanction on them as well in terms of Fines and Barring. Hopefully all dealt with outside courts and their sanction. Anyways another sideshow.

I dabble in and out of here quietly and on REVB where I do hold and was just weighing things up for maybe an entry here and top up on REVB should there be any falls. I'm always conscious BOO might use the opportunity to increase to 29.9% or go that one step further.

Worth reading what's in Hosai's posts if you haven't already. Highly informative.

Good posts .zstarz and SP28

We get the confirmation that the Icon sale has completed then this has to be "game on". STE seems to be inferring it may have happened?

Good Morning Okehurst you seem to be one of the most informed and balanced posters on BOO along with a few others on here. A Question or two to you and those others if I may.

What is your interpretation of the implications of Fridays RNS over at REVB, both for REVB, and for BOO's 26.6% holding in REVB and after all the EGM debacle? We seem to have a few Boo holders vocal on the RVB bulletin board but not much being discussed about it here? Would it not make sense to actually let Bo Holt continue in the role as CEO beyond 31st August to see this through to a conclusion, or retain him on an advisory capacity?

https://www.lse.co.uk/rns/REVB/regulatory-investigation-napzv7165h3pphr.html

Or boil an egg blert. Apologies for any typo's I've just got up.

There is too much not only news, but revenue enhancing news coming out of Manchester for that fall to be justified.

I've said this before. Someone in this day and age committing an armed robbery might get away the contents of a cashiers drawer, maybe a couple of grand, and that's if the cashier doesn't activate the shutters first. CCTV inside says and a human element to it says there a high likelihood of being caught. Consequence: probably 10 years inside.

Yet roughly £200 million can be "stolen" off a companies share price in one day, no legitimate known reason and the likely consequence: Zero.

When you view it like that please don't ever tell me that MM is wrong for calling out the City on it's fu gazy markets.

If Fridays share price action further expedites an MBO and the company being taken private then good for him and all of us. The Dubai trip, Golden share going, Cautious John Gallemore buying £500K and the Sale of the Icon building going are all pointing that way.

Did anyone confirm with STE2000 that the ICON deal has definitely completed as they seem to have suggested. Don't naturally assume that it will be announced when it' happens. TheProBikeKit sale to Frasers group finalised about a month ago. It was in the cycling press. Yet we only got to hear about it Friday.

I sat yesterday and compiled a tally of the THG newsflow in the last week to 10days and up to Fridays RNS for the last 7-10 days. Again I'm struggling to see how the drop is justified as all the below seem to have positive connotations for THG, its revenues and profitability. See what you think.

Mention of Ashley as a possible suitor.

https://www.bloomberg.com/opinion/articles/2023-07-13/thg-group-could-be-a-catch-for-billionaire-mike-ashley

Sale of the Icon HQ for £250 Mill progressing with named suitor. (Please link to the STE2000 thread from last night)

https://www.propertyweek.com/news/thg-ceo-moulding-to-sell-the-companys-250m-manchester-hq/5125868.article

Kelso updates on its THG Investment

https://www.lse.co.uk/rns/KLSO/investment-in-thg-plc-update-bk29gfqp1azz3on.html

Two Kelso Directors buy 500,000 shares each in Kelso (whose sole investment is THG)

https://www.lse.co.uk/rns/KLSO/directors-dealingspdmr-shareholding-ibxnwgwxgnjyp15.html

Expansion into two large retailers in Finland and Portugal (Phil Ainscow - Linkedin) Kesko have 1300 stores and Wells operate all over Portugal and seem akin to Boots, and more coming in Q3.

"As we enter Q3 (can't believe I'm saying that), its time to reflect on some of Q2's retail launches on the continent. Our amazing Beauty range from Myvitamins can now be found in Wells stores across Portugal and a wide range of Myprotein bars have launched into Kesko (K-Market) in Finland. Looking forward to announcing Q3's launches....

20th July – 3 New Products launched into India in the coming weeks.

Those being Clear Whey, Pre-workout, and Keventers verticals…”

"Additionally, ensuring the taste profiles of each consumer are met, the low-sugar Clear Whey, which delivers an impressive 20g of protein per serving, will also be made available in flavours such as Pineapple, Blood Orange, Mango, Coconut, Cranberry Raspberry & Peach tea. Similarly, The Keventers butterscotch flavour will also be launched and made available for Indian consumers, making it a protein-rich butterscotch alternative for fitness enthusiasts...The exciting flavours will be reaching Indian shores in the next few weeks, following clearance from the APHA and FSSAI." (Sudeshna Sha - Myprotein)

Sale of the Remaining loss making On Demand businesses for £4 million cash

https://www.thisismoney.co.uk/money/markets/article-12323405/Online-retailer-THG-sells-OnDemand-division-ProBikeKit-4m.html

There's plenty in there to have justified a further rise and not a 110p to 93p fall at one stage.

There's plenty in there imho to justify the share price having broken through and staying well above 100p.

Boom let me clarify a few suggestions you make for they are wide of the mark.

The estimated bid price that Apollo made was significantly higher than 115p you quote. Given the valuation Apollo put on THG Ingenuity alone (significantly higher than 65p to 68p) then it had to be well over 200p and I have seen mention of a figure as high as 325p. I think what you are referring to is the level "the market" took the share price with the Apollo bid being circa 115p

Your suspicions re Nasdaq, Tesla, Netflix falling and being a contributor seem to be conflicted with the fact the initial reaction to the THG RNS saw it rising between 8:00a.m and 8:30a.m.

As for only £4Million against £2.25 Million you may have a point but this was also an update stating that they have now closed up on the loss making OnDEmand division. so though £4m isn't a comparatively large figure it is outweighed by exiting a loss making division and putting an end to those loses.

Lastly let me pick you up on this point you suggest in a next post where I actually last night had a look at the news for the week to 10 days prior to this fall and all can decide if the share price merited the fall.

In any case the price now where it is and it is there for all.

It doesn't state any timeframe but just from my preceding post virtually all the donkey work has been done for them by BDO, McFarlanes and FRA, so I expect it to be on the shorter side of any time frame.

Hosai thanks for that link in your earlier post. Early on in it its sets it put.

"Market abuse is a concept that encompasses unlawful behaviour in the financial markets and, for the purposes of

this Regulation, it should be understood to consist of insider dealing, unlawful disclosure of inside information and

market manipulation. Such behaviour prevents full and proper market transparency, which is a prerequisite for

trading for all economic actors in integrated financial markets."

I'd pretty much say fudging the sales figures and communicating them to the market as if normal to maintain, raise or minimise any falls through not meeting targets ,would be classed in the "market manipulation" coverall. There was never full transparency. Then on top other communications painted a false narrative. The inference also from memory was that it went all the way back to the IPO and listing. Weren't there also several RNS's with the BDO delays that were at best economic with the truth and whereby they stated words to the effect "Management is not aware of any material issues that have been raised by the auditors during the audit process to date." (Direct lift). Really !!

It's clearly all Legacy issues from the dates and will fall at the feet of Minto, Allsworth and the ex CFO who exited prior.

Plus points in the new Boards of REVBs favour are

* Early doors they commissioned an independent report with McFarlanes and Forensic accountants FRA

* The findings they have reviewed and were acted upon since, and sufficient to satisfy the lifting of suspension.

* Minto and Allsworth nad CFO past are no longer Directors of REVB and have been replaced

* Reference the Medichem overvaluation aspect of the Mcfarlane investigation report, a further independent valuation was also commissioned with a significantly lower value attached to the business and with negotiations ongoing to remedy this.

* Statement of Claim delivered to Minto with 7th July deadline for response to recoup monies and time spent dealing with these problems.

* Full cooperation with the FCA.

Virtually all of the donkey work has already been carried out for the FCA by BDO and by McFarlanes and FRA so that should expedite things.

PP1 sorry for the late reply been out enjoying myself. I actually wasn't referring to you. It was others inferring last night that he had and had sold his shares on knowing about it. Not the case.

Wouldn't it just be nice if you could actually find a reason for over £200 Million pounds being wiped off a companies value at one point, in only one day.

The best I can come up is a positive RNS that morning exiting a loss making division, getting £4 Million cash for the businesses and THG Ingenuity being retained to fulfil any orders. Supplemented by a fuller explanation on Linkedin of what had happened.

The share price quoted though is there for everyone.