Member Info for onsolidground

Took a top up myself in the low 520's

Over 90% is an excellent result given the way the share price has been treated and fully expecting the rump to be passed on by the end of today as those buying are getting their shares for a 30% discount to TERP.

Was fully underwritten so the company has its money and the multitude of underwriters have first dibs on the cheap shares.

Cancel the last Manz12 i see you got more detailed response which I think was what you were after.

Manz12 surprised you haven't had a reply.

Simply divide by 10 for what todays price would be in old money. 54.55p mid price.

Well said Pmh198 I've been adding monthly and intensified since Kelso came onboard with both THG and Kelso holdings so very happy to be seeing things come to fruition.

Kelso I think should be higher but it will catch up. Can't wait to see where they invest their next £3 million also as I'll be jumping in behind them.

I think you will probably find Panderman that Odey has hedged his bets and also gone Long on MTRO whilst still taking any opportunity to reduce his short position.

Two of my other stocks have just received Bids today, one being Network International and the other being THG, where Amers knows I post.

Private Equity is out there snapping up undervalued companies.

MTRO was subject to previous bid in the not too distant past and it has to be said when it was not where it is now, back in profit ahead of time and in all probability capitalising from a low risk mortgage book and further increases in interest rates translating through to the bottom line.

MikeS02 I actually think that the percentages of the take up are less relevant than the fact that the rump is swallowed up either by the market makers who can purchase for themselves or clients or by institutional demand. Like you say very rare institutions get the chance to buy such large amounts of stock at such a discount when to buy in the open market would shift the price upward.

Definitely been shenanigans here, like with most rights issues, but ultimately the share price is presently 55p in old money.

BlackRocks large holding is also a good indicator for the future.

Should be sat nearer 387p and pending whether Mastercard come forward with a counter offer.

Looks like it's also headed back to the FTSE 250 come the may review, if things hold up as they are.

Which means FTSE 250 tracker funds will also be looking to buy in.

Talk about all your Christmas's coming at once.

Could get the perfect scenario whereby the 10% who are short desperately want shares. Moulding announces a buyback for say up to 10% of THG's shares

and Apollo want the lot (well at least the majority)

Moulding can play a nice few aces tomorrow if he is switched on and move the share price up further.

Kelso were after him

~ At Point 1. Announcing that THG were going for Premium Listing with a date

and they were also after THG

~ At point 3. Buying back its own shares.
Given, in our view that THG's share price is undervalued, we urge THG to consider a share buyback programme soon after the pending preliminary results announcement. We note that THG maintains the authority to buyback up to 10% of its outstanding shares. As stated in the January 2023 trading statement, THG has cash on hand at year end of c.£470 million, with £170 million undrawn revolving credit facility, net debt of c.£200 million, reducing to c.£160 million upon receipt of £40 million of proceeds from non-core freehold asset disposals in H1 2023. Tailwinds from recent whey and transportation cost reductions will further improve cash generation. We think such a buyback would demonstrate the board's confidence in the business.

Apollo will know that 221p Sum of Parts valuation flagged by Kelso and will have noted a months worth of change and things starting to progress with the closure of the On Demand division.

Their homework will also have told them 170p last time was not enough so they will have come to the table with adequate funding.

Interestingly the approach is the very day prior to "segmental" accounts letting all work out for themselves Sum of Parts valuations.

"2. We urge THG to continue to review strategic options, alongside focussing on cash generation, to ensure underlying value is realised in a practicable timeframe. Initially, for the market to better understand the value potential of THG, it is important that they provide the appropriate detailed segmental analysis, specifically including divisional contribution/profitability, alongside a divisional summary of any tax losses. It is Kelso's view that there is a clear path to enhancing shareholder value through more financial visibility, which we hope is detailed in the pending results, by highlighting the underlying value based on the "sum of the parts". We note that Liberum, an independent broker, in their research note published in February 2023, estimated the "sum of the parts" to be 221 pence per share (actual price target was 55p) but highlighted that this valuation is only relevant if appropriate actions are taken by management and the board, a comment with which we agree."

Kelso itself also now looking decidedly cheap comparatively speaking and given they now have a 100% success rate from identifying undervalued companies and investing to attracting in a bidder and with £3M more also shortly to become available for more THG or their next undervalued company.

All imvho

"Shares out on loan, an indication of short interest, represent about 10% of the company’s free float, according to data from S&P Global Market Intelligence as of April 13."

That's about 10% that are going to have to close or lose a lot of money.

Nice RNS.

Just what all have been waiting for.

You'll also find c264 that I am invested in Kelso (KLSO) which is the Active Investor fund that has been highlighting the Sum of Parts of THG is worth far more than the market cap. They backed it with two investments in THG also.

Its my second bid of the day. Network International being the other.

Instead of deramping find something worth investing in and stop wasting your time.

This will go back to TERP and probably higher and I care not of its 1 month, 2 months or 6 months imho

c2645sg

"I see you're 'invested' in THG too solidground.
That tells us all we need to know about you."

And up pops a bid from Apollo for THG

lmao

You would hope so Oke. Moulding denied the last ones access to the accounts to let them conduct their own due diligence by using his Golden share last time around. Hopefully segmental analysis gives them sufficient detail.

Personally I don't think Moulding won't be of a mind to let this go cheap.

Just shows that whilst people get preoccuppied with short positions etc, when the Activist Investors start to turn up its not long before the bids start to materialise.

It means Kelso are quids in as well.