Member Info for ryanf

I have a pretty well documented timeline, including communication to IR, so think we could start legal proceedings if we got a big enough group together.

Cong, the people backing Selkirk likely already have a large holding in THG, and may be willing to pay a higher price for Nutrition to get the share price moving.

Hypehero, this company has so much potential, but is let down by the people at the top. Ingenuity demerger had the potential to unlock shareholder value, yet was listed at £100m and many PIs couldn't or didn't want to hold a privately listed company in their portfolio.

There are two sorts of people giving negative views.

1. People who are short (Steve, PMH) or want a cheaper buy in (OSG a few weeks ago.

2. People who have been invested for a long time, was promised the board would act in the best interest of shareholders, for that to then be a lie and our CEO takes almost 50% the big potential growth aspects of the company for a pittance. Shareholders feeling like they don't want to sell because they believe how undervalued the company is, but that it's being destroyed by those at the top, and trying to lobby for change, to finally realise value.

I unfortunately sit in camp 2. 4 years and counting.

Giro, reality is, it wasn't valued at 0. Now it's demerged the PLC has fairly limited growth prospects hence the 33% haircut (pun intended).

Will take some careful management of performance, I.e. revenue not dropping off a cliff, debt repayments, high FCF.

Revenue growth has to come from taking market share back in the UK, especially in Nutrition. Also, making sure we penetrate international market, thinking US and India. All of this is possible with the right strategy and management.

Agree with you Moniman, but after £1.5bn capex, should Ingenuity be worth less than £100m to shareholders?

Although MM does have a habit of destroying 95% of people's wealth.

OSG, you expose yourself by floating from one side to the other, and the misinformation you spread is as bad as Steve, go do one.

OSG, I have already made those feelings known prior to the demerger, this was part of my email to IR:

"Also, I'd appreciate if you don't pull the wool over mine and other investors eyes in suggesting that the dilution effect will be eliminated, when you know it hasn't. You diluted my shareholding, siphoned off an entire division of the company and then put the share count back to where it was prior to the raise. The new shares haven't magically disappeared."

Have a nice evening.

"At what is still 10% under the price of a NON_DILUTIVE placing"

OSG, that's a lie and you know it. The definition of a placing is that it dilutes existing shareholders.

Yes share count has stayed the same, but Ingenuity has been removed.

A free lunch does not exist, and you know it but you're trying to pump for your trade. Sad.

Oke, so best case is 120p with the addition of special divi or debt paid?

I suppose if debt is paid instead of special divi, we can expect the SP to be higher due to large and quicker dividends/buybacks from regular trading?

They get beat by a capital event, Selkirk?

Telxx, that makes sense because his RemainCo Share dropped by about 5%. 5% × 7 is 35% ingenuity and whatever else he took to get to 40%

I'll go through the list of failures:

● Capital markets day Sep 2020.

● Claiming beauty could be relisted (never happened).

● Not relinquishing golden share for years.

● Not firing Iain Mc, instead letting him step down but keeping involved as an "advisor".

● Not accepting Apollo bid.

● Nutrition "pivot" - ongoing (being blamed for poor results).

● Keeping prices low during inflation, then blaming them for poor results.

● Blaming Japanese Yen movements for poor results.

● Chairman non-existent.

● Non-Execs not keeping shareholders interests.

● Blaming beauty destocking for poor results.

● CEO claiming 95% of advice he receives goes in the bin.

● Demerger knocking 33%+ off share price due to poor value for PLC shareholders.

● CEO informing of company news through LinkedIn rather than RNS.

● CEO rubbing in shareholder faces that he's taken Ingenuity back for peanuts.

● Cannot remember a good trading update.

When do we say enough is enough with Moulding?

Just trying to think, over the past 4 years, has the BOD done anything to create shareholder value? Like literally anything?

Oke, what are the benefits for RemainCo shareholders with a Selkirk deal? Surely some of our share of nutrition will have to be sold to Selkirk?

Matty M, you've not made yourself very popular with yet another egotistical self-centred linkedin and instagram post.

Your actions knocked 20p off the share price, and you're here rubbing it in our faces. Deplorable.

The 200m shares are already out of circulation, and the SP is already priced as if Ingenuity is going.

RemainCo is currently valued at 45p, we lost 20p worth of value by losing Ingenuity.

I'm not expecting any SP movements in the new year, sadly, not until Selkirk show up or another capital event happens (or through some miracle RemainCo has traded well in Q4).

I can't bring myself to watch yet another pathetic year end video depicting Moulding to be the misunderstood hero yet again.

Yea you might be right Cong but don't think it matters either way.

Pmh, well you have your answer now. The deferred 1 shares have no value, they are not tradeable and therefore have no impact to trading. RemainCo share count will decrease by 200m shares on 2nd Jan 2025.

Pmh, I know you already know the answer and are trying to spread fear, but for those who don't know:

Your THG that have been allocated to Ingenuity are now class B shares.

The class B shares will be converted to Ingenuity shares on 2nd Jan 2025.

There will be an equal number of Deferred 1 shares on THG's balance sheet which have no value, but are created in case there has been anything left out from the demerger unintentionally. It gives THG time to ensure everything has been transferred to Ingenuity properly.

The Deferred 1 shares are good financial governance and are required by regulations.

Happy with the explanation, pmh?

Think it's pretty clear that by Moulding staying as CEO of RemainCo means that a deal of some kind is on its way.

He's a terrible PLC CEO but very good at deal-making. Hopefully Iain Mac's Selkirk deal will be part of the 5% of ideas he does listen to.

#NoThanks - what a knob.

OSG calling out Rock for being a positional trader is like the pot calling the kettle black.