Member Info for Sp28

Performance is not the issue. At IPO revenue target was £1.7-1.8b I think, they did £2.2b!

The huge fall over the last 12 months has precipitated through a total lack of strategic plan. Basically everything they have ever mentioned, so far they have delivered nothing. Let alone deliver, we have heard nothing!

If there is further silence on say premium listing/golden share, then we know the inevitable is coming, he is taking it private, through the silence he is just buying time for everything to be sorted, also why he doesnt seem bothered about the share price. He seemed more bothered @ £2.30-2.40. In his mind deal has been in place for months, so why fret!

IMHO. DYOR

@licker - Totally understand and share your frustrations.

He has to deliver, end of! Many things have been out of his control, he can't control the share price! However he has mentioned numerous things, and simply not delivered. Once the Chairman joined, i think everything was put on hold! Even simple things like separation complete, new THG Ingenuity CEO, they can't even bothered to tell us!

Chairman in, 6 months review period up, let's wait and see, has to flip back up one of these days!

Simple fact is, all remaining PI's left will be frustrated, most have been washed away with the drip drip decline over many months now!

Only consolotation a few long suffering PI's can take is, the II/CEO/Chairman own most of the company, it's in their best interest more than anyone to sort this out one way or another!

Time is very nearly up. Close period ends, distressed seller has created a unique situation here, as they are offloading due to their own problems and nothing to do with THG.

Or we can go with Liberum Capital broker note reiterated a few months back at 700p ;), or the JP Morgan £14 broker note only 14 months ago :) Or Softbank Valuation on THG Ingenuity 14 months ago at £4.5billion, and now worth didly squat! Lol

For me which ever way you cut this, take it private, PE buyout, premium listing, better governance, peers, general market, this is severely undervalued now, a bit of a joke. and in 1 month, 6 months, or 12 months, it will have to rerate leaps and bounds to get anywhere near true value.

Always say, the eye test, if anyone has been near Manchester Airport, and look at THG's colossal sites, it's super impressive. 100% believe in their vision and technology. It is no mean feat to migrate/set up a 3rd party suppliers E2E systems with the ease and timeframes they are achieving. It is actually super impressive.

LTH's will be rewarded.

DYOR

Only 2 days left now!
According to Citigroup, currently:

THG Beauty valued at just 60%
THG Nutrition value at 0
THG Ingenuity value at 0
THG On Demand value at 0

It really is that simple.
True value will be reflected one way or another.

https://www.sharecast.com/news/broker-recommendations/citi-resumes-coverage-of-thg-at-buy-says-beauty-division-underestimated--10057545.html

“We’re building something truly special in the Food, Beverage & Wellness Category at THG Ingenuity."

"Working with several of the world’s largest global F&B brands, with a team of remarkable and passionate individuals”

Reality is telling us something very different to the flim flam everywhere!

Someone has a buy order around these levels, why wouldn’t you! Hardly any PI’s selling.
Time is nearly up now.

Current value of THG Ingenuity – Minus £100 Billion! ;)

On the last call, Matt said there are some huge clients in the pipeline, with GMV of £0.5 Billion/£2 Billion, they need to be transparent and say who these are, what it means for us, when they coming on board etc.

Another one of the Chairman's mandated action points: TRANSPARENCY!

Knowbody - agree, they have said that twice now.

However I was pointing out the lack of any Strategic News!

Other than the BOD, nobody has a clue on what is to come, and which direction they will take!

The only thing we know in the last few months:

Chairman bought £1.1m of shares

CEO bought £850k of shares and gave them to his friends

CEO effectively bought £3.5m of shares, to give money to charity, and once the price goes up, give the full uplift back to charity!

All at significantly higher priced!

Apart from that, it has been total silence!

Effectively been a news blackout for several months, especially since new chairman joined, as he was going to spend 6 months on a full detailed review. Well 6 months are now up, been total silence since.

His mandate, summarised:

Improve Governance and Transparency (Total silence!)

Beef up the board (no new appointments)

Review strategy (no idea whats going on)

I will update on progress over the next six months as the plans take shape (again nothing)

Well tick tock, time is now up! Nobody has a scoobie whats going on...

And its not Ingenuity which process millions of items globally each week with automated fulfilment centres!

We have people manually picking and then packing, and then the paper round boys/girls go on their bikes to deliver!

As few LTH's have continually said here, THG has been incorrectly grouped with the likes of BOO/ASOS, when they are fundamentally different companies, selling completely different products!!!

When the likes of Ulta/Boots/Warpaints say beauty products are flying, we receive no linkage to THG, when half our business is Beauty Lol

Lets wait and see. All tailwinds in play. 60%+ revenues are in foreign currency!

"Strong trading performance continues and results for the year ending 31 December 2022 now expected to be ahead of market expectations" Warpaints

Incorrect. He has mentioned this a few times now.

The latest occasion was results on 21st Apr (98mins on FY webcast), he incinuated by saying "what  ENVIRONMENT is the best ENVIRONMENT and share register to get the best for THG", answers will become clear to myself and the Board in the coming weeks and whatever ahead"

Analyst asks "by this do you mean private or public"

MM " cant comment, without causing some problems"

Maybe the city know this and are simply hoovering everything up to make their easy money!Let's see what happens over the coming weeks & months!

So far just 0.05% of shares have been traded!

Very few sellers here.

And when a big buy come in i.e 1million yesterday, and quite a few biggies last week, it's eventually trickled back down to their holding price on non existent volume and tiny trades! Ultimate control!

How many signs of a buyout do we need!!! Phantom premium has been created, I bet most would now take up the mythical £2.50!

Management stops defending the stock price.

Social media posts are overly bearish and calling for the CEO’s removal.

Large amounts of phantom premium are on the table.

Resignations by high-level management or board members.

Your stock has become disconnected from reality

Another disconnect is sentiment.

Stock Price has Been Declining for Months

Down 50% or more from recent highs.

High institutional ownership.

Paid bashers claiming bankruptcy.

Pinned for Months

The company would complement someone else’s business.

No strategic developments/news

Taking no questions at the AGM

On and on.

Let's see how it unfolds in the coming months!

MM was going off his rockers at 250p, yet seems unmoved at 52p!mmmmmmm wonder why!

DYOR

If no strategic update again, safe to assume THG is going private!

With the continued silence from BOD/IR, Matt doesnt seem bothered, is the price already set, hence why he is not bothered!

"So why aren’t they? Why hasn’t management said anything even remotely interesting in the past few months? Why didn’t they take any (or many) questions on the last conference call? Why are they on vacation while the stock price is plummeting?  It might be because management just doesn’t care anymore. A buyout price has been reached and their golden parachute has been secured.

Buyouts, mergers, and privatization deals take months to hammer out. Companies aren’t approached for a buyout on Saturday and then drop the PR on Monday. It takes a long time to get it done. Months of inaction or laziness by management can be a sign that behind scenes they’re working to sell the company or have already cut a deal"

All the signs are there, THG is going private. IMHO

Ocado x2.5 revenues
THG x0.25 revenues

How do you explain this??? A differential of 10!

Clearly revenue should not be used as the only factor. There are a multitude of factors at play. I.e. most of current market cap held as cash :) its just become a cash shell right now, all components of the actual business is valued at next to nothing!

THG simply being punished for lack of communication on strategic plan and governance, promised so many times, delivered nothing so far. Which 'should' be resolved next Thursday!

TIME IS VERY NEARLY UP!
They need break the never ending silence, and let everyone know exactly what they are planning to do!

Next weeks update perfectly aligns to the 6 month review period!!!

"The Group has announced a number of strategic options for 2022 and beyond, I look forward to working with Matthew and the team to review these and I will update on progress over the next six months as the plans take shape"

https://www.investegate.co.uk/thg-plc--thg-/rns/appointment-of-independent-non-executive-chair/202203220700085247F/

Surely it has a 10-15% boost today with the huge news waiting to be announced by the government. This should be like a 'Booster Rocket' lol