Member Info for onsolidground

Fair points Cong

You're not wrong on the FCA Bugsy but to be fair I was surprised it opened up in the first place given its' highly preliminary and was going to be an all cash offer. What really surprises me is that the conversations have any duration given Tullow have spent 4 or 5 years reducing debt and you have predatory interest from one laden with debt.

Did Rahul decide to go knowing this was in the offing and contrary to strategy and belief or have Cosmos just spied the opportunity with Rahul having announced his departure.

The market, if we can call it that seems to be telling the Boards of both what it thinks.

Definitely looked like a shark attack at circa 10.20a.m. for those contacting the FCA. Flash crash of a couple of points in only a few minutes, if that.

Look, on the Selkirk front they need to get their first investment absolutely correct and particularly if they are looking to pay over the present odds for a company, sell same said pup to new investors in a pass the parcel deal at higher than today also and persuade banks to lend them £100M as well to fund things.

Realistically speaking can you honestly hand on heart see it being one of the THG divisions what with all this volatility and hedge funds like Qube and MW using THG as their own cash register on virtually a daily basis.

Yes I see since last I posted that several Directors and related parties have been finding £50k's and other sums underneath the sofa to buy and top up. From a reassurance point of view it's telling us that the Fox Crypto deal shouldn't be too long, and probably another.

Probably the easiest money they will ever make.

The remnants of yesterdays sell order being churned early doors I suspect Kyk and reliant on the chorus line cheering the price up to move it on.

Imvho it won't be THG Nutrition or THG Beauty that Selkirk buy for you would have to say half the existing debt of £600M if it was either (Banking approval required (and fees) and add the £100M new debt that Selkirk are suggesting in the deal structure would take.

Far far better candidates out there and letting you have a 50%, 51% or more controlling stake.

They would be best just terminating any highly preliminary talks.

Nobody would want an all shares takeover by a company that's got massive debt.

Maybe they are thinking it might tease out someone else.

It's now down which is probably more reflective of the fact it's an all share offer.

Not only that but Kosmos debt would set TLW back on everything it has achieved in reducing it's own debt over the last 4 or 5 years.

Incredible swing in the space of only a minute

Lets see where it comes out the other side of the auction.

I was going to say with 2.8 Billion in debt that if anything it was going to be an all share offer.

"very preliminary discussions with Tullow regarding a possible all-share offer by Kosmos for Tullow."

Explains the reason for the rise though the last few days. Leaky ship, probably on the Kosmos side imvho.

*private equity capital*

Sorry about that.

Believe it or not moniman Selkirk Group has been set up to acquire an undervalued resource, be that either THG as some on here think, or NCC as I think with good reason, or another.

It's all about picking up the parcel / company, rebadging it and tweaking processes and selling entry tickets at a higher price. Then growing it and adding value then looking for an exit.

But tonight just highlighted the problem around THG presently and don't you think if you have short positions attracted to a company and in existence where we are now that they will suddenly just disappear when any higher share prices create greater opportunity for profit. Just look at those Qube salaries.

Unsurprisingly there wasn't any mention of short positions in last nights presentation. Would you be part of an inflated £400M next raise to pass the parcel on from one set of shareholders to another. Iain Mac and Kelso themselves will be wishing to make, rather than lose money.

I hope I am wrong but I had it in my eyes Selkirk plus Belerion pribate equity vapital in particular would bid and fund the purchase virtually outright and avoid an additional debt burden and other issues hinted at.

Good shenanigans for once and 125p a share, albeit the usual caveats.

Made my Christmas to be fair.

Bought at 21p and on reflection I cannot recall one time that I've bought at 21p and not made decent money.

Rahul's legacy for reducing debt by about £1.4 Billion at 21p was a share price cheaper than when debt was double what it is. I'm not surprised he's going to be focussing on other interests.

Https://www.youtube.com/watch?v=hr1HRBNf7UI

Came across quite well I thought but if Selkirk is not a SPAC please give it another name.

Hi Oke

Don't disagree with your sentiment and I side with you and many thinking MM is solely interested in satisfying himself, Could it be interpreted as crafty dependent on how you look at it? Who knows.

Just be careful though with the Revenue figures as they were already declining and are heavily dependant on this key period which is proving problematic for several retailers and that's before you need to factor in the extra Budget employee costs which most are experiencing. On a personal note I normally buy a lot of THG and associated company products as Xmas presents for friends and family but this year I haven't been tempted in to even buy one gift as virtually everything I have been able to source cheaper elsewhere or alternatively and some stuff I've been after they haven't got in stock.

I am more inclined to believe, given previous days of virtually no volume that somebody is taking advantage of the rise to offload placing shares into it or somebody who made their own luck by dropping the share price as low as 38p is doing similar. Hopefully perhaps another day or two in it before the worm turns.

Btw, second Director buy RNS @ NCC just RNS'd.

Afternoon Okehurst,

It did strike me as a creative way to sort out the debt having slept on it overnight and to the benefit of both MM and Ian Mac and Kelso's holdings which are under water.

But and for me it's a big but and you hit the nail on the head. I honestly cannot see them raising £400M to take 49% and cede control in effect to those having made the strategic decisions to put it where it is.

Kelso told MM to hive off THG Nutrition when it was going gangbusters. But that went with the 95% into the bin. Same with strategy updates, Buybacks and RNS reach and so many other good pieces of advice.

Personally I will not touch anything MM has the key say in with over 51% control over.

Perhaps like many I've been here too long.

Moniman have you actually read anything of what I have said?

If you had you then would know my thoughts on Selkirk and THG Remainco halved or Newco.

Can we have stanleyb back please?

Elmsley you have made some well considered contributions on this chat forum so keep them up.

I think this personally all boils down to a case of being whether you can honestly see investors (New and old paying again for imvho costly mistakes) and stumping up potentially £400 Million again to take only 49% of a company that has substantial debts of £600 Million. Having effective Equity control is important and that is what Apollo wanted on THG Beauty and THG Nutrition.

If the Belerion previous bid at 170p was a genuine and true bid then they should be offering outright for either part of Remainco.

Own personal view is that it's madness but if the MM's or another entity wish to run the share price up based on that notion then I am happy with that. I won't be holding though (and suspect neither will they) come January trading update.

SPAC or not!!

Interesting question and answer in the Iain Mac presentation on SPAC's and having previously been all the rage in the US and having fizzled out over there.

Iain Mac seemed to reply that Selkirk Group was not a SPAC and I also was corrected on the same point last night mentioned by Iain Mac and please recorrect me if I'm wrong in my interpretation but it is important to note what Kelso said whilst updating the market in RNS format on their updated strategy and the listing of Selkirk Group.

"Kelso, the main market listed acquisition vehicle, is pleased to announce a further update on its new strategy as initially set out on 30 September 2024. In that announcement, Kelso stated that it will now look to seed and invest in listed single company acquisition vehicles which target listed, unlisted and divisions of undervalued UK businesses where we believe there is considerable upside. Selkirk Group Plc ("Selkirk") was announced as the first of these such vehicles."

So when is a SCAV not a SPAC?

Same thing in my book.

Will it see into the 200's as we move towards the New Year?

Also worth watching this recent Selkirk Group presentation by Iain Macdonald the Chairman of Selkirk Group

https://www.youtube.com/watch?v=hr1HRBNf7UI