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**acceptable offer**
You called it - stick or twist. Right now it’s a binary bet on an acceptable being made.
A highly preliminary and non-binding indicative proposal is about as early stage as it gets. Plus it was clearly before their latest disappointing update. A very long way to go before anything is in the bag. I can’t quite believe what some on here are posting. The share price tells you everything, not to mention todays volume. And I’m a holder by the way, before anyone suggests otherwise.
An approach is one thing, an acceptable offer is something different entirely.
There is every chance Apollo won’t make an offer. Even if they do, it’s highly unlikely it will be an acceptable one. The recent update was another miss and their path to cash-free neutral looks cloudy once again. I wouldn’t be surprised at all to see Citadel or MW increase their short on that scenario.
There sure are a lot of potential Boots related links at play here.
Is this the same John Goold of Oncimume holdings ltd that has a Boots connection via Medicity? A poster on ADVFN has suggested so?
Nice to see.
I actually don’t think they lack ambition, they just need balance it with some prudence. Especially as a listed company. Even more so if they ever do go for a premium listing. I deliberately didn’t mention the P&L in my previous post as I’d like to see some data split by Division..
I think CEOs and companies learn the most during the tough years. Let’s be honest the last 2 to 3 years have tested many bigger companies. MM may not quite have navigated life as a listed company perfectly (in fact quite the opposite some may say) but I think that’s likely true of many entrepreneurs. He needed a good chairman from IPO in my opinion, but at least he has rectified that to some degree (although we need to see more from him). Missed guidance is always a red flag (it is to me as a private investor), but in the the last update, there were positives - He has now embarked on some cost reduction activity, which I see as a positive. Sometimes when you embark on the IPO fuelled growth story, companies grow too quickly and get too fat. Whilst I personally think the balance sheet is in reasonably good state, given the preceding 2 to 3 years (IPO assisted of course, this also now seems to be on THG’s radar, and once the markets return to growth, the balance sheet should be fine. Who knows what the future holds, but THG at 52p as we emerge from these tough times, with the brands and divisions we have, that should look like an absolute steal in 3-5 years. Just my opinion of course (Provided MM doesn’t take it from under our noses)
Correction - CAN understand why others might be.
I’m not too personally worried about the additional shares either HH, (I have other concerns I’d like to see addressed) but I can’t understand that some holders might be, because everybody’s journey, average price, situation Etc will be different. It’s easy for these boards to transcend into name-calling etc, but these boards work best for me when people challenge each others thinking, but politely and respectfully.
Issuing more shares against the back drop of the recent disappointing updates, was always likely to cause some further frustration for holders. But no, the happy clapper fingers-crossed hopeful brigade can’t even accept that! They’d rather just refer to disappointed holders as non-holders, derampers etc. It’s easy to spot those that make interesting contributions to the board, just use your Filter button folks.
I’ve started so I’ll finish! LOL
I think what you are all saying (collectively) is that the SOP valuation here is attractive. I certainly wouldn’t disagree. All the divisions have potential to put two challenging years behind them now.
I think what you are all saying (coll
Ha ha, why not just “Al” I’m sure he’d love that!!
Despite the odd waspy name-calling post, this board is actually quite amusing. Enjoy reading it. A vast range of differing views, which makes you think. Unlike the BOO board, checked in they yesterday, what the f**k is going on over there!!! ??
I agree B1nky along with getting full transparency on the share register.
When you miss guidance on three successive occasions, it is going to attract some negative reports and downgrades, but I can’t help think they are all a little late to the party. My personal view is MM won’t ride to the rescue for anything above £2. I have a feeling he will line up his backers, sweeten the II’s & charities with new shares and just blame the city for not understanding THG. I actually hope he doesn’t, because if THG can navigate these tough markets, 50p may well look like a steal one day. I just think the golden share will deny us that opportunity. The SOP valuation is nuts really, but it’s a confidence thing as much as anything now. And I agree with everyone, where is our chairman? Let’s hope some deals land soon and MM can restore some confidence…….
Yes N1, a good company with many positives (and very attractive SOP valuation), but currently run by a CEO that updates the market with smoke & mirrors, and overpromises and under-delivers. Sadly the wider market focuses on the latter and our investment suffers as a result. Very frustrating. Let’s hope some positive news land soon and gives us all a lift.
MM has said in interviews many times that being a listed company feels like having his homework marked, so he knows all too well what a 30% miss on guidance will do to the share price. This is all playing into his hands. Call me synical, but he just needs one backer with deep pockets and he’s taking this private at a price few here expect. I so hope I’m wrong, but I have a bad feeling about this.