Member Info for onsolidground

Circa 200 Million Ordinary shares less in the market for buying purposes as of the demerger.

Come on Selkirk make your move and table that takeover approach and lets get the present management team tweaked, Linkedin silenced and THG Remainco back focused on delivering shareholder value.

Virtually 2 years this Board of Directors were advised by Kelso that they should Premium list and even so despite the FCA review and for 2 years they sat on their hands and did nothing.

Here's what Kelso said in part when they lettered THG that they were voting against the re-election of the Chairman in May 24. So add a further 9 months to the last sentence.

..."Whilst THG would be a mid-ranking constituent of the FTSE 250 index, it is the 4th largest company, by market capitalisation, amongst those companies with their main listing on the Standard List. Companies listed on the Standard List do not form part of the UK All Share Index or the FTSE 250 Index. Furthermore, most of the UK active funds including dedicated mid-cap active funds are benchmarked against the FTSE 250 index and are able to ignore companies on the Standard List. In June 2022, the FCA said that it was reviewing introducing one listing regime for issuers, merging the Standard List with the Premium List. Following a 23-month review of the proposed listing rules reform, this review is still ongoing. THG has said that it is awaiting the result of this review. Kelso believes the Board should take control of the timing of this value accretive decision. The Board of Kelso believes any cost of transition would be dwarfed by the value benefits to shareholders and would further improve corporate governance at THG.

On 16 January 2024, THG delivered a strategy update in which it stated that the Group's strategy, as previously set out by the Board in 2021, remained unchanged: "… to provide each division with its own growth and capital platform, through individual public market listings or partnerships, with THG retaining significant majority ownership". Disappointingly, after nearly four years, there has been no demonstrable public progress on this front. The Board of Kelso finds it particularly remiss that there is minimal comment on strategic progress relating to this matter in the Group's recent Annual Report, which spans over 200 pages. Kelso believes that this lack of clarity is a major factor contributing to the poor share price performance and the absence of new declarable shareholders to THG's register in the last eighteen months..."

Well delay and complacency might have got MM Ingenuity on the perceived cheap but it's cost him 5% of his Remainco holding and now for the first time in 23 months Sofina have shown II interest in upping their stake.

I think we might see a few others over the next few weeks and months.

Imvho

Turtlehead no disrespect but this is the Remainco bulletin board now. If you sailed with Ingenuity, Gallemore and MM then good luck and I hope it succeeds.

Please speak to your broker or email your Super Majority Shareholder or Sue Farr @ THG.

Looks like some of our Institutional Investors (and others) have now started to take an interest again and have switched their own buy algo's on. Sofina showing the way with a timely near 1% increase and somebody was buying on Friday also. Same again today. First real increased Institutional TR1 in 27 months.

Circa 200 Million ordinary shares less available in the market for anyone wishing to buy.

Change is afoot and I suspect in more ways than 1.

Was the easiest top up in history on Friday.

He commented in the Sunday Times Lifestyle profile piece that he knows this share price is worth a lot more without him in charge. Everybody knows that for he has singularly been the biggest obstacle to attaining value for this share. So much share price catalyst suggestion has been provided and all binned and here we are at 42p.

Some 2 years on from rejecting what OVMK have indicated was an Apollo bid somewhere between 200p and 250p, 42p. He's had 2 patient years off II holders and he's out of road and it looks like he's looking for an exit. Lets be honest he and TGL and probably a few others are going to struggle to get re-elected next time around.

Lets look at things.

# The Selkirk presentation has THG written all over it. (As if it is already written)

# He's sold the HQ leases

# The recent reduction in his personal shareholding in THG Remainco

# Willingness to pick up circa 48% as a backseat shareholder in Ingenuity leaving the Chairman and President / CEO role to anothers

# Somebody has been part selling @ Kelso. I think him.

No matter what he tries it's not succeeding, and to be frank if taking Ingenuity private for £25Million is the best that can be mustered up no more needs to be said. He's out of ideas and not reinvigorating the share price for not only his own personal holding and wealth but also for friends, family, colleagues and is sat with a security detail on him every time he goes for a leak. As well as all his close family. In fact nearly every time he posts on Linkedin it adversely impacts the share price.

Hopefully not too much longer to wait for the next approach or corporate shufflings.

Imvho.

Thanks M3STU for the detailed aspects of the judgement. Some superb clarity and detail in there. Also to your good self Redacted for retrieving details of the two further disputed tax claims going through the ICC process.

It is abundantly clear in the judgement details below by the ICC that if the taxes subject to assessments and demand by Ghana / GRA on Tullow were not in the Petroleum Agreement then they have no substance or legitimacy. Hence the judgement in favour of Tullow and the awarded costs of £2 Mill and $295K approx to Tullow.

Then looking at both those further disputed Income Tax assessments and payments demands that are also going through the same ICC that on each Tullow uses exactly the same line which is this.

"The Group considers the assessment to breach TGL's rights under its Petroleum Agreements."

Given the outcome published on Friday it seems apparent that there will only be one outcome in both these further matters - with the ICC finding in favour of Tullow and again awarding further costs.

Just the one judgement has turned out to be highly embarrassing for Ghana and the GRA, it's mathematicians and it's legal advice. So I would fully expect them to quickly review the 2 outstanding pieces of arbitration asap and to drop those further tax demands - amounting to $387 Million collectively.

Furthermore from the reputational standpoint of Ghana this needs resolved quickly and without further unfavourable outcome, rebuke and adverse publicity from the ICC as it will only serve to discourage further foreign investment into the country.

Fridays RNS'd judgement and imvho direct links to what's coming with the further two pieces of arbitration represents serious removal of potential liability and risk and is worth far more than 8%. (Most oil stocks on Friday gained between 1.2% and circa 4% just off a rising oil price) So I shall hold and add and await a swift resolution of these further matters also in favour of Tullow.

Tullow should end up with $707 Million in potential liability saved. That is serious risk removed and serious money saved.

Not as cash rich as everyone was thinking OhhAhh? or is he spying a backseat role and stepping back out of the limelight. Certainly looks that way at Ingenuity.

Thoughts re Remainco OhhAhh?

Well one of THG's delivery couriers has had a very nice Christmas. Mines all came Evri next day, on time and no complaints.

https://www.thisismoney.co.uk/money/markets/article-14248095/Worst-parcel-firm-Evri-best-Christmas-ever.html

1pencil just following on from your one liner on whey prices and not divulging sources, but I did some delving last night and found now locally sourced MyProtein products in Japan.

dyor

Guys and Gals,

The MM's dip the price and up pops the spammers and FUD and you have a negative slant to the bulletin board and the MM algo's do the rest. Throw in some naked shorts for good effect. Lets be honest Qube's small increase is not responsible for the recent dip. It's chicken feed. Conversely you raise the price and the reverse happens, the spammers buy in and go quiet, Fomo emerges and the MM algos do the same in reverse. You can readily pick about 20 stocks that do the same cycles and most have an internet dimension to them. Ocado, Asos, Boo, S4C... With these ones, whichever is the obvious way for the share price to go you just tip it the other way and hopefully get frustrated day traders and others to sell. Then move it back the other way when you feel like it, often on no news.

Somebody makes a tidy living out of the same volume being churned over and over again and the accompanying spread. It has been going on here and elsewhere for years. Less company Sum of Parts details considered or company metrics, just somebody sat watching, probably feeding, and playing the bulletin boards back and forth. Hedge funds probably behind most. That is in part why so many companies are being taken over or deciding to ditch their UK listings, go private or go elsewhere. Forget the abolition of stamp duty on share purchases as supposedly the latest answer to all City ills. It simply does not address the root cause of the problem.

Personally, despite what looks like the concerted dip, a lot of things came out last week which were positive.

# The THG Remainco shares, you, I, and everyone can buy reduced significantly and going into ESCC category on Monday that is a good thing.

# Matt Moulding has reduced his shareholding in THG (Didn't mention that on his Linkedin post). Either purposely done or to pick up all the slack.

# Somebody has also been selling down @ Kelso also. Stopped Friday though once mentioned on here.

# Sofina have definitely increased the number of shares they hold in THG. How, we can all speculate but we will never know.

# |And also we have also now ticked into Q1 - and that is when Selkirk (all heavily laden with THG Knowledge and expertise - Iain Macdonald, Angus Monro, John Goold and Mark Kirkland of Kelso and Activist Investors in THG) said they were looking to make an approach for a UK company - value up to £1 Billion.

I'm actually with Oke on the point that when it has got to these levels twice in the past Capital events have occurred, and THG is now devoid of huge Ingenuity Capex spends and those lease liabilities.

Iain Mac presentation.

https://www.sharesmagazine.co.uk/video/selkirk-selk-iain-mcdonald-executive-chairman

Disagree with you Monte. 2 freezers again instore by the looks of it for the Jan health push. Wellbeing range and new products added.

https://www.thegrocer.co.uk/news/iceland-gears-up-for-health-push-with-expanded-myprotein-range/699373.article

Spied a few of these ready meals in my local Sainsburys. Nice Nectar card discount atm also.

https://www.sainsburys.co.uk/gol-ui/product/myprotein-chilli-chipotle-beef-with-rice-325g

Just checked online and they have a vastly expanded range with Sainsbury since last I checked also.

https://www.sainsburys.co.uk/gol-ui/product/myprotein-japanese-style-chicken-curry-with-rice-325g

https://www.sainsburys.co.uk/gol-ui/product/myprotein-firecracker-chicken-with-rice-325g

https://www.sainsburys.co.uk/gol-ui/product/myprotein-brunch-bowl-with-chicken-sausages-310g

Much wider range of MyProtein also online than last I checked.

https://www.sainsburys.co.uk/gol-ui/SearchResults/MYprotein

"As a result of the Tribunal's award, Tullow Ghana is not liable to pay the $320 million BPRT assessment issued by the Ghana Revenue Authority and will have no future exposure to BPRT in respect of its operations under the Petroleum Agreements. Tullow continues to engage with the Government of Ghana on two further disputed tax claims, which were referred to the ICC in February 2023, with the aim of resolving these disputes on a mutually acceptable basis."

Part1 today pointing to Part 2 and Part 3 going the same way.

Massive lingering dark clouds and risk lifting @ TLW.

How long before we see the 30p and higher level again

Have a good weekend one and all.

Even better

Posting for balance.

Qube threw away 0.21% into the market.

Sofina picked up over 4 X what they threw away at 0.963%

Awkward for Qube,

And somebody picked up over 1.5 Million in one chunk earlier today.

Read the RNS

https://www.lse.co.uk/rns/THG/tr-1-notification-of-major-holdings-ilcw9183l225ap9.html

Yes a nice near 1% increase in the Sofina holding (0.963%)

Have a good weekend.

03-Jan-25 15:37:19 42.034 1,467,038 Buy* 41.90 41.96 616.65k O

There's a 100k following it.

Volume just picked up by 2 Million?

Drop today but little accompanying volume, and probably more buying than selling.

Some just buy low and sell high and just ignore bulletin board noise.

After 2 years of waiting, finally it hits ESCC category / Premium listing next week.

Only 2 years too late.