Member Info for onsolidground

"I can't blame Moulding for taking advantage of the situation when he's been given it but I'd say it was far from expected or planned."

In part Oculusprime yes it's the City that has delivered a 32.3p placing price and didn't give back the supposed Remainco discount.

Not bad business though to reduce your holding in Remainco whilst grabbing a majority stake in Ingenuity for a song and ensuring it was funded at the same time, to the detriment of the THG share price. Then once Remainco dips further pick it all back up and more for 1/3 cheaper than the previous 49p placing price. Arguably, he could have put a lot more of that £60M into the Ingenuity placing back then, but he didn't.

Emotion and MM's personal motivation aside is the company better off a) with or b) without the refinancing. Answer a)

It's the best deal the company could have got as it's interest free although to be balanced it is probably as equally motivated with a will to try and deter Mike Ashley's further stake building. Doubt it will work though as he has deeper pockets.

We await to see who bagged the £30M worth of cheapies and did Mike Ashley grab any or the likes of TGL and the Board average down? Shouldn't be any disclosures off the likes of John Gallemore and Iain Mac as they are no longer Board Directors of THG Remainco should they have offered up to average down also.

Strangely subdued price action today given fully refinanced until 2029 and on the cheapest terms going.

Its looking like £3.00 may be coming quicker than anticipated.

Nice uptick

Ordinarily a Black Sea ceasefire would be great news as we could get the ship out of storage, dust off the cobwebs and start shifting good product en-masse.

But with Vat refunds being withheld and muliple litigations and us looking to scale back production to only 1/4 of pre-war production its as if everything is going in reverse at the wrong time. The Ukranian Government should imho be encouraging scaling up, not down.

Thought they might also have reached agreement on an "in sky" ceasefire as well against missiles, planes and drones to stop the civilian death and destruction that is continuing nightly, but not so and that looks like it's been left for next round of talks.

All didn't seem agreed on the initial joint statement this time around either so perhaps we are now getting to several of the previous sticking points. I think the key question is will we start to see leverage used against Russia?

I actually thought the RNS read quite well.

Just need the algo's to be switched back on.

What the trigger?

Slow ascendency will do just fine.

Unless you have an Asda right next door to a Tesco I personally can't see Asda's price cutting having much of an impact.

Just every now and then the market gifts you one...

Indeed why, Investing101

If anything it saves THG having to use Selkirk Group funds to repay debt.

The share price presently is hardly off-putting to Selkirk yet is it?

stanleyb, moniman, Ste4001, do yourself and us all a favour and zip it for a bit and stop all these multi-ID postings. Not even remotely subtle and worse spamming than stevescott ever did.

Selkirk Group and Iain Mac, Kelso and Michael Murray at Frasers all very very quiet this morning.

Has it knocked the wind out any of their sales or is there a another chapter yet to come.

Has to be even more appealing what with previous large debt Debt tackled and the interest bill chopped.

Debt reduced by £234M

Another £90 Mill onto the balance sheet for good measure

Probably into the record books for the biggest contribution ever by an ex owner / now CEO of any company

Leverage ratios now down to 2.6 and more appealing for FTSE 250 funds and predators.

Guidance maintained.

Inaugural dividend coming - perhaps?

Been waiting on this day for the best part of 3 months since demerger and it's come early.

When Moulding and QIA bought paid just over £30M for Softbanks stake the share price rallied 30% over the next few days and weeks. dyor. That's a smaller contribution than this financial undertaking and the fact overnight that it completely transforms the balance sheet.

GL all.

Well you will get many that scream huge conflict of interest but to be fair to him it's the market that has delivered the price to him and he's just had a spare £60M sat handy to take advantage and sort the debt out ahead of time and in one fail swoop. Debts now massively reduced and sorted until 2029, guidance reiterated on top.

It's going to be oversubscribed, given the size of MM's undertakings / underwriting, and he'll have had good insight who else would also be participating

Just 2 questions.

1. How many have Frasers / Mike Ashley and Kelso successfully obtained each? It states in the RNS that unlike previous Matt Moulding has had nothing to do with the allocations. It is Barclays and another.

2. Will it actually leave everyone with a decent opportunity to onboard or top up in the morning?

Just caught and read the update.

I did say the debt needed sorted and positively he's gone and done it wiping out £234M of debt and getting rid of Term Laon A and B in in one full swoop and also extending all other debt facilities to 2029. Good saving on interest payments.

Extra equity coming to assist re-funding and supporting the company and by the cheapest means via equity and an interest free loan. Lock in period also tied into any take-up.

I'm normally negative on MM but on this one its actually a good result imvho.

Negatives: Timing not great to coincide with FTSE250 inclusion day and there was also a deliberate void in news to let it get to where it is prior to announcement. Some also appear to have traded this in advance on both Friday and today.

Might see what I can get tomorrow given no opportunity tonight and given the debt uncertainty has now been completely removed until 2029.

Oh come on ryanF you missed out:

That all divisions were US ready

That 170p significantly undervalued THG

That the dilution due to the demerger of THG Ingenuity would only be temporary for Remainco holders.

Most calamatous Rebrand in the history of rebrands.

Mike Ashley is stalking @THG by the looks of things and unlike @Kelso he won't be able to Pacman defence against the much bigger fire power of Frasers and the market saavvy Ashley.

One week for Selkirk Group to show their hand and make a move on THG Pearls if they are intent on sticking to their Q1 timeframe for making a move on a UK company.

My monies on it not being THG.

Why overpay for a minority stake of say 40% when you can get 51% elsewhere and with the likes of MA easily picking up over 6% and not paying a penny in premium.

MattyQuinn - great business though for the enlightened few if you know it's always going to be delivered to your specification on the anticipated date.

Wouldn't surprise in the slightest if it's been a nice big payday for those sat with large Call options and who've now bought their stock and closed the option. Now probably holding Put options.

Counter side is that Ashley knows how to not only play Options but use them to his advantage to accumulate. Just over 1 Million traded now appears to have jumped to approaching 4 Million volume off the drop in the last hour.

Would love to be sat in there just eyeing up how they are programming their algo's to play this today.

The thing you can always guarantee with THG is that when you expect the share price to go one way on an expected date, then it virtually always goes the other way. Same happened of the demerger "Effective date"

Millions get made on the rise up in expectation. Same on the drop on the date when it comes. Rinse repeat. Why would it ever change?

1p.

It's a confidence signal.

Those massive trades, triple witching or not, just highlight the scale of what operations are going on under the surface here and which nobody has the slightest inkling of. Furthermore, all legitimately hidden away from normal market hours trading. So much for transparency !!

So far they haven't got the January VAT refund.

Those further comments on Friday evening in that article are imvho serving notice on Ukraine that should they not receive the February refund on top then they will be cutting back production significantly, and the knock on consequences couldn't be clearer: sadly people will lose their livelihoods and be laid off, any revenues to Government will be chopped and FXPO won't be investing another penny in Ukraine. (Can you blame them!!)

It is after all a business that they are running and not a charity.

That outlook might not be good for the share price short term but at some point you have to say enough is enough and that's what I think the last series of RNS's are saying.

The situation can't have been made any clearer. Over to Ukraine to decide whether they restart the VAT refunds or not.

Circa 30 Million shares.

Where on earth have they been magic'd from?

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

21-Mar-25 16:41:39 36.67 10,078,646 Unknown* 37.20 37.30 4m O

21-Mar-25 16:37:49 36.68 2,415,158 Unknown* 37.20 37.30 885.88k O

21-Mar-25 16:37:49 36.68 254,280 Unknown* 37.20 37.30 93.27k O

21-Mar-25 16:37:49 36.68 134,045 Unknown* 37.20 37.30 49.17k O

21-Mar-25 16:37:49 36.68 588,910 Unknown* 37.20 37.30 216.01k O

21-Mar-25 16:37:49 36.68 -3,392,393 Unknown* 37.20 37.30 -1m O

21-Mar-25 16:44:01 36.68 297,621 Buy* 37.20 37.30 109.17k O

21-Mar-25 16:43:32 36.68 622,369 Buy* 37.20 37.30 228.28k O

21-Mar-25 16:37:49 36.68 3,392,393 Buy* 37.20 37.30 1m O

21-Mar-25 16:36:35 36.68 3,655,050 Sell* 37.20 37.30 1m O

21-Mar-25 16:35:08 36.68 44,167,928 Sell* 37.20 37.30 16m UT

Some real biggies.

Really surprised that nobody has mentioned them?