Member Info for schlemiel

Matt Moulding opens door to THG takeover; surrenders ‘golden share’

Posted by Georgina Caldwell | Jun 23, 2023 | Europe, Finance

THE WHAT? Founder and CEO of THG, Matthew Moulding has surrendered his ‘golden share’ – a mechanism allowing him to block takeover attempts, according to a report published by The Guardian.

THE DETAILS The transfer has been delayed by several months; in October 2021, Moulding committed to giving up this power over the course of 2022. The share will now be cancelled by the company.

THE WHY? It’s likely that Moulding’s somewhat belated renunciation of this special clout comes as the owner of Glossybox and LookFantastic forecasts an uptick in profits for the first half. Recent talks with Apollo fell apart on the back of the private equity firm’s ‘inadequate valuations’. It’s not exactly a leap to suggest that a bounce back in sales and profit will help THG command a higher price in any future negotiations.

https://www.globalcosmeticsnews.com/matt-moulding-opens-door-to-thg-takeover-surrenders-golden-share/

Buy-backs do not work..a total waste of company cash

Charles Allen?

Sorry to be a pain but who or what is 'tgl'?

thanks

But we need a takeover to put us out of our misery

been here too long now

Binky

Welll, Barclay's have restarted their coverage so not everyone in the City hates THG!

22-Jun-23

THG THG Barclays Equal-weight 74.60p - 87.00p Restart Coverage

22-Jun-23

THG THG Jefferies Buy 74.60p 85.00p 95.00p

-

Barclay's restarting its coverage of THG is the dog's boollooxx. Barclay's ain't no tinpot outfit so they see the start of a turnaround at THG

The real question is after all that has happened this week, what exactly is happening with THG behind the scenes? I know something, whatever is happening isn't a negative

Binky

I see your point mate. Maybe an MBO is pie in the sky then based on fevered spec which is something we all enjoy indulging in

I'm happy with this week. Not complaining

Current trading performance

Revolution Beauty Group plc (AIM: REVB), the multi-channel mass beauty innovator, is today providing an update on trading for the first three months of the financial year ending 28 February 2024. The Board believes that it is appropriate to update all shareholders on the Group's most recent trading performance in light of the hostile requisition notice (the "Requisition") received by boohoo Group plc ("boohoo").

Trading has been excellent during this period, with sales up 60% year on year. Gross margins were 48.2%, which compares with 41.7% in the corresponding period last year. EBITDA at constant currency was £3.5m (Q1 FY24: £7.4m loss) and cash on hand was £15.4m (Q1 FY2024: £10.1m). This performance demonstrates the quality of Revolution Beauty's products and consumer offer, and its ability to deliver growing sales into an expanding global retailer base.

https://www.voxmarkets.co.uk/rns/announcement/82fa725c-7f77-4660-b53b-03be6b20180d/

Binky

Not necessarily. A hostile bid comes out the blue so the Directors would have zero knowlede of such a potential transaction. Insider buying is acting on KNOWN INFORMATION and seeking to profit from such a situation. A hostile bid would not be classified as such

That's a buy costing £450K. Wow, that's huge

23 June 2023

The Company has received notification that: Sue Farr, a Non-Executive Director of the Company, has purchased 40,897 ordinary shares of GBP0.005 each in the capital of the Company at a price of GBP0.729 per ordinary share; and a person closely associated with Sue Farr has purchased 26,500 ordinary shares of GBP0.005 each in the capital of the Company at a price of GBP0.76148 per ordinary share.

23 June 2023

The Company has received notification that John Gallemore, an Executive Director of the Company, has purchased 578,710 ordinary shares of GBP0.005 each in the capital of the Company at a price of GBP0.774117 per ordinary share. These ordinary shares were purchased in joint names with a person closely associated with John Gallemore.

Boom, now that is confidence for you

ASOS was booted off the F250 because its market capitalisation fell below a certain limit due to bad trading prospects, profit warning etc hitting its share price. MM isn't so stupid. He understands THG need to get its market cap up to acheive a prem listing and he ain't gonna acheive that by releasing poor trading statements. I suspect he knows THG will release improved figures that will underpin THG's prem listing application. Failing that I can see THG being swalllowd up and split up

Feck me, I can't keep up with this. First, a crappy flow rates test result and now Tamboran enterig into what at first glance appears some interesting and positive commercial arrangements...A kick in the bolllllloxx followed by a blooooww job

Well, if MM's desire is to achieve a F-250 premuim listing or THG in the not too distant future then I hardly suspect THG would issue a warning before hand and blow their chances of achieving such a premium listing. I reckon they've get something up their sleeve to smooth their F-250 listing application and enter into the F250 'promised land'. The run-up to the premium list application must be smooth and untarnished. And if MM is still ranting over Numis then I would conclude 2 things. One, he's not goling for a prem-list. Two, he's planning a MBO and now doesn't give a toss about broker sentiment

The company's now heading in the right direction and that should please even the most pessimistic of shareholders

Bottom drawer now and fingers crossed today's horrow news won't be repeated and that they can unlock the puzzle