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Always good to see CFO buying big..oculus they are not doubling Manchester staff..Blackpool I believe which means probably about 30 people…let’s not get ahead of ourselves, still positive all the same.
Oliver Cookson post on LinkedIn 4 hours ago..he’s getting very vocal..some interesting reply’s aswell..
"Do you regret selling Myprotein?" "Did I sell too early?" are common questions I get asked.
I've generally chosen not to discuss this aspect publicly because I value privacy in these matters. However, when discussing the Myprotein sale, I realise that omitting this part of the story doesn't give a full picture of the circumstances. It's important to share this context to provide a clearer understanding of the decisions made.
When considering the decision to sell Myprotein, it's crucial to understand the full context and my strategy at the time.
Initially, my intention was only to sell a minority stake to PE.
This was my decision instead of taking a bigger cash out because of my confidence in MP.
It was the #1 in Europe.
It would be #1 in the world.
This would enable me and the senior management team to drive the business forward for another 3-4 years, with plans for a IPO or another investment round.
I was determined to avoid any unfavourable PE provisions, such as 'bad leaver' or 'swamping', and was also adamant about avoiding typical PE tactics like 'chipping' after an exclusive due diligence period.
Unfortunately, one large unnamed private equity house attempted exactly these tactics, and we consequently ended our discussions. They later remarked that 'the one that got away.'
As for The Hut Group, the situation evolved in unexpected and unfortunate ways.
Upon selling, I believed THG was financially healthy, reporting profits of c.£6m per year.
This was a significant factor in my decision, especially given that Myprotein was a larger and more robust business, with legitimate profits of over £5m annually and positioned in a rapidly growing market, unlike THG’s CD-selling business.
However, it was later unveiled that THG was actually suffering losses of £1.1m annually.
This discovery, confirmed to be fraudulent by the High Court - which awarded me significant damages.
It became evident that there had been deceit not only from THG but also, regrettably, misconduct from one of my own advisors, who, I later learned, had vested interests.
I typically don't dwell on regret as it serves no purpose, but valuable lessons.
The decision to sell was based on the best information available at the time and was aimed at securing a stable future for my family for generations.
Importantly, my strategy included rolling over 50% of my stake into THG, as I was confident in MP's trajectory to become the world's number one, building on our status as Europe's leader.
Had I been aware of THG's actual financial state, my decision at that time would have been different.
Reflecting on this, the experience, though challenging, has been immensely educational.
It has underscored the importance of transparency and the critical value of having trustworthy advisors.
These lessons are now integ
LTH have been lied to..recent updates make reference to ‘long term shareholder values ‘ which means ‘don’t expect anything in the short term’ a.k.a you’ve been lied too for the last 2 years…horror of a CEO.. you mention you read ‘chat rooms’ hopefully you read this, you twat …get us some value!!
Goes to show how deluded he is..he is literally contributing to the SP decline and appears to have no immediate plan to try and generate shareholder value..complete horror show of a CEO of a listed company..imagine complaining about something for so long and not to do anything about it..prat of a man
Decent uptick in beauty..holding the prices on myprotein was a disaster.
I struggle to see what is changing here..
1) giving shareholders less then 24 hours notice about trading update and conference call - again
2) nothing about strategic update
3) where Is Lord Allen that is being paid £400k?
4) premium listing news?
Shambles really..seen it so many times before…small uptick today and it will drift back down to mid-high 50’s..
It’s going lower unfortunately..moulding has allowed that to happen again..delay the T1 update, everyone is expecting another miss (don’t believe the smoke and mirrors ‘adjusted’ BS)..I can see it drift low 50’s again..horror of a CEO l, would love to punch the smug LinkedIn bragging prat
I mentioned the lack of notice..complete disgrace and shows his contempt. I’m sick of him, complete bull sitter..proven not the right man for a listed company..do the right thing..we won’t he’ll burn us all
Revenues missed again..debt up, cash spent..dawned on me that I’ve made a terrible decision to invest here for the last 2 years..another 2 hour notice for shareholders..where is the chairman. It’s a horror show. He’s on LinkedIn again taking about profit, laughable prat
This is my concern and has been for some time..I’m really having doubts he cares about the the SP and trying to maximise shareholder value..he just wants to blame the market and that is his get out when it all goes tits up and he buys it back with his pals for a song..
Was promised for end of March so should have been today?
Really happy to see the ‘rise’ albeit still down 10% YTD and still way down where we should be…don’t want to be a negative Nelly but we’ve had more false starts then any other share I know…ideal situation for me is that it gets taken out £1.50-£2 this year, can’t be bothered with the drastic swings..don’t want to hold for another 2-4 years on basis I’ve been in approx 2 years to date and the CEO is capable of impacting the SP by 25%+ in a day..the constant talk of the future is a worry for me..we get a small ‘rise’ (in my eyes it’s not a rise - we should not be here) and people start talking of £4, £5, £10..fact is we ain’t even 70p ..accountability and delivery on said targets elude Matt too often…anyways please keep rising, please dont mess up the next update, please don’t show net debt gettig worse, please get some decent whales released before update and please give strategic update. Just deliver on promises Matt..
Another crap day being a LTH here..admittedly not as bad as it could have been..0.5% up on a rally day..god help us for a market down day. Give us this strategic update so we can all make an informed decision on this current value trap of a company. I still can’t believe he issued that video on LinkedIn after trading update..what are we..25% wiped off value of company since then..where’s the smug twat now..
You only pop up and have a go at people who are genuinely frustrated with the company..let me hear your thoughts on the company performance and SP performance please? Please don’t blame the shorts and the pesky media..