Member Info for onsolidground

Further move by the City watchdog

https://www.msn.com/en-gb/money/other/city-watchdog-restricts-crispin-odey-and-colleagues-ability-to-access-their-own-cash-as-crisis-deepens-amid-misconduct-allegations/ar-AA1cKtVz?cvid=89ec40d30e0547acbaf60509039df377&ei=33

Merely pointing out Hosai that the idea of using Sec 303 of The Companies Act came from somewhere and Goold at Kelso / BOO had that as "recency" in his mind having only presented on it a few weeks back. These Active Investors have a whole lot of knowledge and tools in their armoury that you and I as PI's don't have and wheres Hedge Funds use every trick in the book (some dirty) to drop a share price Active Investors are intent on making money also by their own reverse tactics and cooperation or agitation.

@THG, for me its get the share price up or with the Golden Share expiring there will be another Bid comes forward and all tools used to put it to a vote or to shake things up.

The Boohoo RNS has got one of their present Board Members written all over it and who also just happens to be the CEO of Kelso Holdings (KLSO), An Activist Investor Fund

Here is a summary of points he made at a recent Investor Conference in the capacity of CEO of Kelso

""THE KELSO ARMOURY OF TOOLS TO CREATE CHANGE

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

• Use the Companies Act 2006 provisions to help make change

- Section 303 CA 2006 – ability to appoint or remove directors (5%+ / 51% vote) - (THIS IS WHAT WAS USED).

- 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

• Use social media to get points to retail shareholders

• Use high net worth & PE investor contacts to underwrite certain deals"

https://kelsoplc.com/wp-content/uploads/2023/05/KELSO-Investor-Presentation-May-2023.pdf

I'm sticking with my interpretation of what's gone on.

Makes for a really interesting AGM or any others that have to be convened.

I think you might find that the brains behind the current RNS across the bows of REVB is none other than John Goold, Board Member at BOO but also the CEO of Kelso Group Holdings (Active Investors). Makes me also wonder if Kelso also took a holding or CFD in BOO as they had circa £3M from a recent placing sat waiting for a home.

Here is a copy of an extract from a recent presentation that he presented at an Investor Conference with the tools available to him and Kelso to effect change.

"THE KELSO ARMOURY OF TOOLS TO CREATE CHANGE

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

• Use the Companies Act 2006 provisions to help make change

- Section 303 CA 2006 – ability to appoint or remove directors (5%+ / 51% vote) - (This is what was used).

- 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

• Use social media to get points to retail shareholders

• Use high net worth & PE investor contacts to underwrite certain deals"

https://kelsoplc.com/wp-content/uploads/2023/05/KELSO-Investor-Presentation-May-2023.pdf

https://www.marketscreener.com/business-leaders/John-Goold-05Y7YB-E/biography/

Bold move and something that the ordinary PI's are incapable of.

Volume says somebody knows exactly what is going on.

John Goold CEO at Kelso is also on the Board of none other than Boohoo.

I wonder where they got the idea of using Sec 303 of the Companies Act from?

Like I say, equally as transferable here given all the Form 8 Notices that were coming out like confetti naming all present holders over 1%.

https://www.marketscreener.com/business-leaders/John-Goold-05Y7YB-E/biography/

BOO are using Sec 303 of the Companies Act?

Look what information Kelso provided in its recent presentation as its Armoury of Tools: Same Legislation

THE KELSO ARMOURY OF TOOLS TO CREATE CHANGE

10

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

• 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

• Use social media to get points to retail shareholders

• Use high net worth & PE investor contacts to underwrite certain deals

You underestimate these individuals at your peril. Many close connections with BOO also.

https://kelsoplc.com/wp-content/uploads/2023/05/KELSO-Investor-Presentation-May-2023.pdf

Definitely reads like something has gone on but somebody is keeping one piece of the jigsaw concealed.

Volume seems to be saying somebody knows what that piece of the jigsaw is imho

The 2 RNS's at BOO and REVB read like an approach has been made and rebuffed. Therefore use the voting muscle of a 26.6% holding to vote against the existing BoD and replace with BOO friendly Senior Execs.

Incidentally the same ploy is available To Active Investors when they have enough canvassed votes behind them.

Tick tock on the Golden Share expiring.

The 2 RNS's on either side read like approach made and declined. Use the voting muscle of 26.6% to oust the present BoD and replace with BOO friendly Senior Executives.

I hold RevB and have always thought with 26.6% and most of the work being done that close to the lifting of suspension would be the correct time to make a move.

My immediate thoughts on this are that I am left wondering if a takeover approach has been made by Boohoo and declined.

This looks like an attempt to replace the existing BoD and implant BOO friendly Senior Executives.

Lets get back from suspension and see how long it takes for them to cross the 30% threshold. Not far off at 26.6% and most if not all of the hard and necessary work has been done.

Gets yanked all over the place so somebody can benefit from the rebound.

Only way to participate is in stages and buy low and sell high.

Very nice to see it rising.

Been undervalued imho for whatever reason for so long but can't complain.

Sbb since MW and others got spanked with the Apollo bid and knowing that Apollo valued THG Ingenuity at significantly higher than the share price that prevailed prior to the bid (Circa 65p) why would anybody be selling.

All also know of the multi-faceted expansion of THG Nutrition, a £675Million revenue business, effectively being given away for free and also. Go to be a £2 Billion business on a 3 x Revenue multiple. That's a middle of the road conservative valuation for other similar peer takeovers and partnership deals.

THG Beauty, a £1235 Milion revenue business also for free.

Two rounds of Bids declined amidst the Golden share.

But it runs out in the 16th September and its open market conditions for any further Bids and 2 Active Investors seeking higher value.

Sorry to beat the sane base drum but if ever there was anything so glaringly obvious it is the disconnect between the present share price and sum of parts.

dyor

Surest way to reduce the volume even further is to drop the price.

Nobody was selling even before Matt Mouldings 2 day investor trip to Dubia and I can't see many selling thereafter. Starting gun fired on getting the share price higher or take private imho.

Surprised its down anything today. I have Easyjet in the blue today and Deutsche Bank recently put out a note on TUI with a Buy recommendation and a target price of 843p, so 35p above the 808p TERP that I recently calculated on here.

That shouldn't be too far off given the raft of good trading updates across the airline and holiday sector, a few more of which should appear next month and then everyone's off for the school holidays.

This one always seems to fall around what are the key event / special occasion dates when the company takes a lot of its money. Not surprised it was busy on Saturday as it was last day to get stocked up for Fathers Day. That's another one in the bank.

Absolutely no idea why after such a busy week / few weeks why CARD opened this morning with a near 10% spread.

Tease out the Apollo bid number or a banding then we , and the market will know that several sets of Private Equity (they also want a viable profit margin in any price paid) were willing to value to THG at 170p and whatever the Apollo figure was.

Then why is it sat at only 73p

Golden share ticking down fast, broadly breakeven year and next Bid should get put to a shareholder vote for ALL.

Https://www.brodericks.co.uk/blog/whats-trending-in-vending/

and

https://www.brodericks.co.uk/blog/airport-vending-solutions/

and

Healthy Eating Week

https://www.linkedin.com/posts/brodericks-love-coffee_better-for-you-brodericks-activity-7075381519040569344-27Pq?trk=public_profile_like_view

Licker what you say is absolutely correct but for me it would be nice to get some the actual price or some form of banding and maybe without going antagonistic.

Thereafter we would all know - that of the 3 bids over a year ago the lowest was £1.70 and then here with the Apollo bid it was pitched at £....

It would then beg the question Why is this share price sat so low? when various multiple other organisations, and bearing in mind these are Hedge Funds and pitch low to still make decent profit.

With Matt Mouldings Golden Share veto on any takeovers going on the 16th September and 2 Active Investors still very there in the background and Kelso angling for the testing of shareholder appetite then it should be easy money investing and being parked up for the next Bid to appear.

The Qatari's may be involved but I don't think their time perspective coincides with the less than 3 months facing matt Moulding, hence the Dubai trip, and potentially American trip also (when in his own words he is not really a traveller).

If anyone is going to the AGM this week then what might be the most useful question to have answered is to try and nail down the price which Apollo offered. I can understand if MM is reluctant but it would be helpful to try and get him to commit an answer into bands. 170p - 200p, 200p - 225p, over 225p for instance. Would be handy to know and he may actually have mentioned it to his Dubai audience of investors last week.

Was also going to suggest asking what is his Plan B is but I think the Dubai trip just saw the starting gun fired on that.