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I’ve been racking my brain..this can’t be it..surly not. He’s literally peethed everyone off, everyone! He’s called the LSE every name under the sun, he’s rejected bids from large PE’s and not even had the decency to confirm to all shareholders what the price was (his 65% mates knew)..he seems to think the Other 35% are keeping the value down…he’s literally blaming us! his LinkedIn posts over the last month felt like the end was coming..now he’s just opened another crappy book..there has to be a plan, surely! get the 65% boys club to buy the balance and get back to being a self centred Twit in you’re country club with Mancs made up mate.
I feel daft..bought into a capital event..from comments today from MM I get the impression it ain’t going to happen with a PE..he’s alienated the company from the LSE so we are in no man’s land..no buyout likely, city hates him so where does that leave us…being traded up and down like a piece of plop
Nice start to the weekend..THG the company that continues to disappoint shareholders…FACT. Action open, we can’t sell then we get to sell in the 50’s. MM has alienated the company even further with recent posts..now they are going to make him (or should I say us) pay..again. Absolute ship show.
It’s easy to get out..sell. Long term holders here are use to wild swings..admittedly the one over the last week has been gut wrenching…no smoke without fire unfortunately..price movement would suggest the £2+ bid isn’t around the corner.
Having been in for a long time and averaged down hard..I took some off the table today and banked 50% of my original investment over the last 2 days…has been a hell of a rollercoaster and I’m still fully strapped in with the other 50%..just not all or nothing anymore which feels a little less stressful..I went ‘all in’ with THG and had some sleepless nights..right time for me to bank a chunk..
Christ a few odd bods turn up when things start getting interesting…board is getting clogged with rubbish. Not sure if posted as too many to run through but MM did a new linked in post today.. copy below for people with no access..fist person that responded was Ian McDonald as well!!
MM post:
I love my job. Based on the hundreds of kind messages of support into our Investor Relations team last week, it might be hard for many people to believe. But I mean it, my job is great.
Sure, there are lots of perks to building THG, including shiny things. But these are a pleasant and grateful bi-product of the job. They aren’t what I’m referring to.
I often tell the senior team how lucky we are to do our jobs. I say this even more in the tougher times, when they may be under pressure, or things aren’t going their way. I don’t say it as a pep talk. I mean it. If they lose sight of this, then it’s a slippery slope. It’s easy to get overwhelmed by small daily negatives, losing sight of the bigger picture. This is often clear when people leave THG, with most saying THG leaves a hole after they’ve left.
Last Thursday I had a catch up with Neil Mistry. He finished by saying he’s pinching himself since his promotion to CEO of Myprotein. “That’s nice, but it won’t last” I told him. “Pressures will come and go, and there are times you will forget this feeling”.
He finished the meet by awkwardly blurting “how do you cope?”. He went on to say, “you need a different level of resilience, where do you find it?”. I smiled and told him that’s rubbish. My job is great!
He was referring to another lively week of THG being in focus. Sure, the constant stream of nonsense isn’t easy, but it’s nothing new.
I did endless manual labour work as a teenager – shift work in factories, bar work, stacking shelves, painting, pretty much anything. These are tough jobs, real jobs. Try working shifts on a busy NHS ward, or working in the tarmac industry during the UK winters. And so, building global brands, distribution networks and technology platforms from a lap-top in a warm, fancy, tech campus 10 mins from home, is an utter dream.
But if I needed a reminder, that same evening, I went to the opening of a new school building in Manchester at the Seashell Royal School, caring for children with the most profound learning difficulties. The challenges are such that there are c600 staff caring for 50 children. This huge, newly purpose-built school now boasts the very best facilities in Europe, probably the world. It’s changing lives, for both the children and dedicated staff alike.
Doing my dream job helped make it happen, something I couldn’t have done from my manual labour as a teenager. After a couple years of planning with Jodie, we set up the Moulding Foundation over 2 years ago by donating £100m into the Foundation. Each year I waive my £750,000 salary at THG, with THG donating the same amount to the Foundation, adding a further £2m for distribution t
Great to see, what looks like more decent news, come the way of long suffering shareholders..however would suggest keeping some perspective here..it is after all THG..steep premium ‘before take over approach’..we are already at need 40% since last Monday and popped to near 95p..I read it as that might be roughly the initial bid price. Hope I’m wrong and it is 1.50, 1.70, 2 or even £8! Just been run down by this company and bad news normally follows good..sorry I had a bad week, so a bit grumpy!
I have a niggle that we are going to get low balled..(really low balled)..play on the debt and investment requirement..and willing to take investors with them..similar to AA..hope I’m wrong..hopefully Monday morning RNS with £1.70 initial bid!!
This chap is valuing the whole business at 500-750m..absolutely ridiculous..
https://www.chargedretail.co.uk/2023/04/21/thg-how-much-is-it-worth/
Has certainly been a rollercoaster to be in THG..I averaged down hard and today I reaped a decent return on paper..part of me was going to take a chunk off the table but I’ve rolled the dice again..when we were low 30’s I dreamed to be near 100p!! definitely a good day…having been in this share for a while..I’m strapping myself in for tomorrow..the optimist in me thinks this is the start of good things..the pessimist says todays rise is a buffer for poor results..
Christ we are here again..good luck to longer term holders that have been through a lot of pain..I have a sneaky suspicion things are on the up…I have been wrong before! What has amazed me is the amount of negativity around the current SP..it’s held up really well over the last month and goes against previous updates where he have been walked down..fingers crossed..comment of golden share, separate accounts, £40m freehold disposal (I’m very frustrated this is taking so long..and seems to be going down!) and decent cash in hand numbers are the nuggets I want..the impairments worry me and could dominate the press coverage.
Cheers manc I’ve copied and pasted it below for those with no access:-
Last week, THG shared a post about our Leadership & Management Academy, and it sparked a conversation with the team about leadership, what it looks like at THG, and what it means to me.
Each year we recruit hundreds of young people straight out of education and need leaders to help get the best from them.
We give people real responsibility at THG. The learnings are intense, burnout is a risk, but the opportunity is massive. Our Academy is essential for us to develop future leaders and guide people through the challenges.
I’m often asked what it takes to be a leader at THG. There’s no simple answer. But there are some essential qualities that everyone must have. A requirement is humility. Too many people change as their careers progress. Egos grow and self-appreciation spirals out of control. Confidence is a great quality, but arrogance is ugly, especially to team members. The world has an ample supply of these people. Humility in leaders is a rare quality.
If a manager or director is the most talented person in their team, then we’ve made a mistake. Why would anyone want to be the best person at everything in a team? It’s uncomfortable managing people who are more talented than you. It’s easier to avoid the challenge. Most do. They’ll underperform soon enough, and changes follow.
The best leaders at THG are those who surround themselves with people better than them in every job. I love these leaders. The ones who know the team will be just fine if they don’t turn up tomorrow, or next week.
I invest a lot of energy in maintaining humility across the senior team at THG. An essential way we do this is by maintaining a “start-up mentality”. Irrespective of how big THG is, we still run it like we’re in our first year. It’s THG against the world.
I was worried listing THG in London would dim our start-up mentality. I couldn’t have been further wrong. The way we’ve been treated since joining the LSE has done nothing but add fuel to our insatiable fighting spirit. It’s certainly not an experience I’d recommend to anyone, but it’s been a decent test of our start-up mentality.
Last week, Jodie bought me this picture by David Yarrow. It sums up THG and our approach to leadership.
We do things differently at THG. We always will.
#Leadership #Humility #weareTHG