George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Yes…it wasn’t just 1 £50k and it’s not the first time either..any dilution is frustrating when the SP has been battered..if the SP was at £2+..ok..it’s just rubbing more salt in the wounds of longer term holders..it’s more the principle then the sum..it’s my business I’ll do what I want..I want the STRATEGIC UPDATE that is grossly late you prat
This dilution is frustrating..£50k of equity for turning up for work (I’m being sarcastic) there should be a better justification to shareholders..a vote or something. I stupidly thought we would get some for of strategic update before Xmas..really disappointed..we’ll just drift back into 70’s..thanks MM and our elusive chairman
I don’t disagree with a lot of what you have said however I cannot understand what MM is doing with Kelso..they have said they want the SP to be higher (as do I) they want the strategic update on the business and how divisions are going to be spun out (as do I) they reference a low ball opportunistic bid (which I am worried about) so I don’t think Kelso are the problem here..let me make some observations:-
1) Kelso have clearly been contacting some of the larger shareholders
2) one of these could have been Angus Monro, MM got wind
3) MM decided to try and show Kelso who was boss by buying into Kelso and getting his pal Monro to do the same.
4) Kelso want SP growth and strategic update
5) MM does not want SP growth or to give the strategic update about spinning off (as this will make the SP rise)
6) MM wants to take private for as cheap as possible and does not want people meddling until he’s been able to raise the capital
7) Kelso ref a low bid - I think this is in reference to MM trying to take it on the cheap..
8) MM is acting like a spoilt little brat in buying into Kelso (this has nothing to do with him buying shares through the back door on his own company - the sums are to small)
9) if he’s acting like this with a relatively small shareholder who wants SP growth how the hell is he going to act with people within his business that have the audacity to question the SP and lack of strategic update..clearly he’s some sort of control freak..hence no one is going to question him in the business..
All these people saying he won’t take on the cheap, charities, friends, made statements about low offers (he has never disclosed value of offer - on purpose I suspect ) etc..you are wrong..he will try and screw us and the people who he doesn’t want to screw will be looked after in some way..
My view is Kelso are doing the right thing here and are trying to generate some SP growth which MM has failed (deliberately) at..the problem is our sadistic CEO..
Call me old school..I would rather our CEO concentrate on providing shareholders with a strategic update (which is massively overdue) then get involved in a tit for tat…DO YOUR JOB AND GIVE SHAREHOLDERS A STRATEGIC UPDATE ON THE BUSINESS. Take a step back and think..Kelso are saying they want the SP to rise in THG as it is massively undervalued..our CEO takes umbrage with this and tries to buy shares in the company to shut them up!! What does this say for MM motives?
So he needs to start unlocking proper value for shareholders..a STRATEGIC UPDATE which is months overdue would start…until he starts providing proper strategic updates on the future of the business..the SP will be played like a fiddle and Matt will continue to frustrate LTH’s..he’s just as bad as numis in my eyes…
Made a bold statement earlier in week that we’d break the 80p resistance or I would eat my hat..looks like I get to keep hat. Always nice to finish week strong..I’ll be supping a cold beer in approx 1 hour..good weekend all LTH’s and mr £6..
I’m as frustrated as the next man/woman or gorilla about the SP performance but seeing the post today on LinkedIn on the gender ratio and women in tech jobs and more senior positions is commendable. THGs focus on this ‘stuff’ (very important stuff) will pay off for us..the whole gender gap, net zero, ESG stuff is serious corporate stuff and business will be found wanting on this..not THG though..it’s one of the things he has done very well and would be very attractive to big business if a sale did ever materialise..credit where it’s due Mr Moulding.
Ahananda..love the optimism..seen it before, the Mon man was the biggest cheerleader now he just comes on the board to say how rubbish we all are for investing in a rubbish company. Look, if you ask a lot of LTHs would they take £2.50 I suspect there would be a few that would bite..what we would all agree is that it is a step in the right direction..my advice (I’m not a financial advisor) is don’t expect to be getting 6 dabs in the next month or you’ll turn out like the mon man..all bitter and twisted
I’m personally going to take a view before Christmas..for that exact reason that if results are missed we will hit 50’s again and I can’t be bothered going through the BS again..3 years of no SP value (value depletion) is enough for anyone..I stupidly thought we would be getting this strategic update that was promised months ago..so there is a real sour taste in my mouth with Mr Moulding..AKA Mr My Company…AKA Mr Smoke and Mirrors..
The cynic in me (having been let down my Mr Moulding on numerous occasions) thinks the beauty numbers are going to be down hence him trying to buy more beauty business so he can do his creative accounting/smoke and mirrors tactics to try and hide the miss…also getting all the staff back in the office 5 days a week suggests somethings a miss..he might try and blame productivity on reasons why numbers are missed so he has called all staff back into the office to improve productivity..most business in this field are allowing hybrid working. Kelso might have got wind and want to try and force the strategic update, which should give SP a boost if he confirms separate listings, which has been outstanding for ruddy months.
Mon go away would you..you sold out at a loss didn't you? Why are you still here..yes they cut their target price..others have increased their price target in the last month..the share price has held up well since you sold hence the bitterness..do everyone a favour on the board and go away.
Understand about low shareholding of Kelso etc but they are really getting across the points well and it feels as a downtrodden long term holder (me) they are on ‘outside’ (I know they just want money!) and they are generating some decent coverage for us…to me it’s clear that they are getting into the ear of high value longer term holders..hence why Matt tried to show them who was boss, beats chest, by buying a stake in them and getting one of his pals to buy also..give us an early Christmas present Matt and give us the strategic update on THG - massively overdue.
Assume it’s same as previous but times have new article out (published midnight)…
https://www.thetimes.co.uk/article/thgs-activist-investor-kelso-group-reaffirms-call-for-break-up-20frvmgqz
Feel more positive on THG but I always have a nagging doubt..have been let down more often then not, like most longer term shareholders..I’ve said it before but Matt has absolutely nowhere to hide this time come next update..if there is a profit warning I’m off (I know nobody cares..) I like the new cheap purchase but was worried about buying that Aussie company..unless we’ve generated so much cash flow to purchase!! Buying companies not long before a big market update could suggests smoke and mirrors which Matt and his accountant mates are great at…delivery said results (even surpass), give solid strategic update and provide update on chairman status..and I’ll be happy..no more smoke and mirrors please, please…