Member Info for ryanf

Icecool, didn't you say the debt maturing in Oct 2026 wasn't a problem because it was so far away? Now you're saying lenders won't talk to this board?

"onsolidground

Posted in: THG

Posts: 7,268

Price: 34.04

No Opinion

RE: Predators: make your presence known24 Mar 2025 11:05

One week for Selkirk Group to show their hand and make a move on THG Pearls if they are intent on sticking to their Q1 timeframe for making a move on a UK company.

My monies on it not being THG.

Why overpay for a minority stake of say 40% when you can get 51% elsewhere and with the likes of MA easily picking up over 6% and not paying a penny in premium."

😂

OSG, you're using "I told you so" after so many posts suggesting Selkirk wasn't in for THG.

You silly pr.at.

Dare I say, Selkirk? Lol!

Aim, surprised you're still going. Are you not seeing the double bottom formation?

Hey Rick, how were those few breakfasts down Spoons?

Deal is happening. Expect buys from here.

What's your rationale for revising the offer down if they've made significant progress with DD and want to get a deal done? More likely revised up if anything.

Careful banburyboy, you might get a response with clown emojis

About 50% upside from these levels to 35p. What a sh*tshow though.

Something very goldy7 about you wildtiger

The price after uncrossing trade is pretty irrelevant Oculus.

CEO is guilty of missed targets, opaque numbers, running the company like a dictatorship and directing £1bn of cash to Ingenuity to take private for £25m pre dilution.

The Chairman is guilty of not looking after shareholders interests, worsening corporate governance and allowing MM to run riot doing as he pleases for his own financial gain, to then gaslight shareholders on LinkedIn, trying to get people to feel sorry for him not taking £15m in salary whilst posing on his 6th holiday in 12 months next to his private jet and diluting at all time lows and even at a 5% discount to that!

What a prat. Get him out or get a bid in so I never have to see his name or face again.

With debt being reduced, interest costs will be reduced. Means that EBITDA and FCF will become more closely aligned. We supposedly have many years of tax free earnings due to years of tax losses. With Ingenuity gone depreciation and amortisation should be minimal? Although correct me if I'm wrong on that point.

EBITDA target margins of 12% for the group, on £1.7bn revenue is approx £200m. Converting to FCF, add in some interest costs, capex £20m and exceptional items (as always), £120m should be achievable. That's assuming no revenue growth.

I'm not sure on the exact conversion to net income, for the earnings part of a p/e ratio, but let's just say net income of £100m.

Standard valuation of of 12 to 15 pe ratio would imply £1.2bn to £1.5bn valuation.

Now we have 1.4bn shares in circulation (or more?) 100p looks about right. I'm out at 100p.

OSG, changed your tune on Selkirk...?

Would you say 32p is reasonable given we did a fundraise at 49p just 3 months ago?

And clue in the name of the convertible loan, it's convertible to equity. It's dilution at ATL no matter which way you cut it. It pays off debt yes, but its wholly unnecessary given we're supposed to be cash generative.

Moulding is the ultimate gaslighting scam artist. Poor you mate in your private jet.

I'm off this ride as soon as the price allows.

CityPie, I'll help:

● Lie about listing Beauty separately in 2020.

● Held golden share for way too long.

● Has 50% holding in the fulfilment company THG PLC use, so extreme conflict of interest.

● Threatened to take PLC divisions private if the market didn't value them properly.

● Won't let anyone else speak on investor calls.

● Claims he's been Mullered over last summer when he'd taken about 6 holidays.

● Hires lightweight internal candidates for board roles so he doesn't get challenged.

● Pumped £1bn into a flop and left PLC with all the debt.

I could probably go on but it's just depressing.

Telxx, I'm sure they look in the mirror plenty of times, but probably more for vanity than self doubt.

I know Oke, what a time to be alive. Reminds me of 2023