Member Info for ryanf

Crafty, I think it tells us that the market thinks Ingenuity is worthless, and I think they're right given most of the revenue is driven by inflated internal revenue, and we're better off focusing on core divisions (nutrition and beauty). Moulding won't let his ego let it go though.

Wildtiger, didn't you sell S4 Capital at 44p?

Thought someone wanted out this morning? Did they change their mind?

If anything was on the cards we'd see it in the price. Still at 61...

A trading update is different to full financial results... concerning that you're asking that question?

It depends on the situation. Generally for purchasing something (i.e. imports), a stronger pound is better, but it depends on the contract.

If converting money collected in another country, a weaker pound is better (and arguably exports are better since internationals will find our goods cheaper to buy)

In THG's case for purchasing whey, they could have a contract which says they'll purchase 1000 tonnes of whey for £700 per tonne (making up numbers). Unless they hold cash in a different currency, it won't matter what the FX rate is.

Alternatively, if they are purchasing 1000 tonnes of whey for say, 800 euros a tonnes (making up numbers), then a strengthening of the pound would be beneficial to THG, since we get more euros for our pounds. I don't know which of the two above THG have set up.

In terms of currency translation in P&L from monies outside UK, if we collect monies in currencies that are weakening, and we translate it to GBP, it will show as less money in GBP.

The Yen weakening has meant that revenue collected in Japan, when converted back to GBP, is less than it was before, hence why it contributed to revenue decline in prior quarters.

You'll be right one day moniman

The 3 year storm whipped up by Ste2k (now cityspier) and his mates at the FT.

Undervalued Nutrition and Beauty divisions, as well as being impressed by Ingenuity so thinks that division will gain traction over time?

KYK, we know you think Investing101 is cityspy, you say it every time he tweets. It might be him, it's likely someone on this board. But please can you stop because what does it matter? He never answers you anyway.

Got a link yesimabeliever?

I can't believe you lot don't think it's in MM's plans to list in NY. His ego won't be able to contain the thought of "beating the market" and getting the fame and hero status of listing in NY.

Maybe after, he'll start directing a movie about his life if it pays off. Maybe he'll get Becks or Robbie to play MM? Hmm, actually no he'll definitely want the limelight himself.

Either way, NY listing will happen, just a matter of when the valuations make sense.

You're starting to sound desperate OSG. You know he wasn't calling them dogs. How about be a little less emotional and see the article for what it is, perhaps the start of better relations with the media. Better than it being a complete hit piece on Matt's character like it has been for the past 3 years. Hm, you used to be so bullish.

KWK, in a perfect world that statement holds, but there are complexities around relationships and past share price history that mean you cannot apply the rule of "looking after the interests of all shareholders big and small".

1. By not selling the company at 170p, he stuck by the largest shareholders (like Sofina), who have backed him since IPO.

2. Due to the dramatic change in SP since IPO, it's almost impossible to look after the interests of all shareholders. All shareholders will have different aspirations, me for example could wait years and would prefer to do so if it meant greater returns in the end. Kelso have already shown themselves to hold THG for the short term. Why should Matt change the long term strategy of the company just because some very small II has started a shouting match. Matt is well within his right to make the comments, he is well within his right to buy 10% of Kelso shares. I hope he keeps squeezing them because they are taking the moral high ground but will leave the rest of us in the dust just to make a quick buck, we've seen it already.

Yes he might not be everyone's cup of tea with the shirtless photos and LinkedIn posts (stop please Matt), but he has built this company from nothing, has his own charity foundation, has a strong family unit and clearly has integrity (something that we all know tends to be lacking in the city, and evidently at Kelso). That's who I want to be running the company long term, because value will eventually be realised with improved macro.

“My dogs have got more shares and you’ve met them.”

Don't get the controversy in the comment. He wasn't calling anyone a dog, he's just saying Kelso have an insignificant proportion of total shares and have shown to only be in this for a short term trade (already sold a portion for a quick profit). So Matt is well within his right to make this comment.

Kelso making a big song and dance about it shows that the article hit a nerve. If they wanted more influence maybe they should have tapped up backers with deeper pockets...

Cue OSG, moniman and Stebots calling MM a petulant man child.

Moniman, did you go short again...

Yea, agree with crafty on MM. Despite MM being an unconventional CEO, he is a fantastic entrepreneur and his antics have allowed many of us to get dirt cheap shares.

Although he still has his tendencies, they have addressed many of their governance issues and there is still some work to go.

If MM were to be voted out, it would be a massive mistake. He's driven THG from nothing to a 1bn company which is significantly undervalued.

The good lord however, is getting paid a pretty penny a delivered bugger all. I think Kelso's view and recommendations is wise. Also, voting for TGL out will send shivers down MM and will need to take shareholders interests more into account, else he might get the same treatment.

Even MM isn't that stupid to appoint JG as CEO.

We like the stock.