Member Info for stanleyb

Https://www.lse.co.uk/SharePrice.html?shareprice=ASC&share=ASOS mkt cap £470 million

https://www.lse.co.uk/SharePrice.html?shareprice=THG&share=Thg mkt cap £511 million

Unfortunately Kelso is a busted flush since MM and his Yoga Partner gate crashed the little party here with their 20% purchase? At least Frasers have bought over 5% of THG which is considerably more than Kelso and Matt's Dog have! JMO Adyor!

So why has ASOS announced its inclusion as they are £40 million lower value than THG? £511 vs ASOS £470 million.

https://www.lse.co.uk/rns/smith-ds-nc51pev2glq34cq.html

So why has ASOS announced its inclusion as they are £40 million lower value than THG? £511 vs ASOS £470 million.

· The Group notes the First Tier Tribunal decision in Global By Nature Limited, selling protein products under the 'Sunwarrior' brand. The Tribunal ruled that protein powder products sold by Sunwarrior should be subject to 0% UK VAT, and accordingly, Sunwarrior was eligible for a retrospective VAT repayment.

· Since the VAT rules in relation to Sports Drinks were implemented in 2012, THG has paid UK VAT against its powdered products in line with market practice and HMRC guidance relating to the VAT treatment of protein powders. In the event that THG can make a successful claim by leveraging the arguments in the recent case, a 4-year retrospective repayment claim for two key Myprotein powdered products - Impact Whey Protein and Impact Whey Isolate - is estimated to be worth c. £30m.

· The decision in its current form does not automatically entitle THG to a VAT repayment. An update will be communicated as and when relevant.

" The Group has strong liquidity with c. £400m of cash and £150m undrawn Revolving Credit Facility at the period end, ahead of the Demerger which completed on 2 January 2025."

· Continuing revenue (including Ingenuity) of £1,879.6m (+1.1%), with ongoing portfolio management to successfully exit loss-making discontinued categories.

· Over the medium term, revenue growth of mid to high-single digit is anticipated, with adjusted EBITDA margins consistent with historical levels (for Beauty and Nutrition), and significantly improved free cash flow.

· Specifically, capital expenditure will reduce to c. £20m pa (FY 2024 pre Demerger guidance: £100m to £110m) and cash lease costs will reduce to c. £22m pa.

· Future cash generation will facilitate a measured reduction in gross and net leverage, with RemainCo targeting continued progression to a neutral net cash / net debt position....."

Agreed, THG don't need £325 million in cash as they have no intention of buying any other companies following the Demerger of Ingenuity. They will be paying higher interest on loans than they can get interest on their own cash you would assume, so might as well pay back £325 million off the loan as any capex can now easily be met from FCF as capex forecast to reduce from £100 million down to just £20 million per annum now Ingenuity is a self financing private company...expect an update very soon on that front. A £30 million VAT refund on Protein powders really would be a cherry on the cake.

Line From Q4 results..

".....capital expenditure will reduce to c. £20m pa (FY 2024 pre Demerger guidance: £100m to £110m) and cash lease costs will reduce to c. £22m pa."

Adyor!

Https://www.lookfantastic.com/blog/

Who said it was for Sport Carbohydrates Drinks? ..".THG can make a successful claim by leveraging the arguments in the recent case, a 4-year retrospective repayment claim for two key Myprotein 'powdered products - Impact Whey Protein and Impact Whey Isolate'- is estimated to be worth c. £30m.

Dyor!

Https://www.devereuxchambers.co.uk/resources/news/view/first-tier-tribunal-confirms-the-uk-vat-treatment-of-protein-powders

Https://www.pinsentmasons.com/out-law/news/vat-opportunity-low-carb-drinks-uk-tribunal-decision

0% UK VAT protein powders Tribunal judgement, 9 January 2025

· The Group notes the First Tier Tribunal decision in Global By Nature Limited, selling protein products under the 'Sunwarrior' brand. The Tribunal ruled that protein powder products sold by Sunwarrior should be subject to 0% UK VAT, and accordingly, Sunwarrior was eligible for a retrospective VAT repayment.

· Since the VAT rules in relation to Sports Drinks were implemented in 2012, THG has paid UK VAT against its powdered products in line with market practice and HMRC guidance relating to the VAT treatment of protein powders. In the event that THG can make a successful claim by leveraging the arguments in the recent case, a 4-year retrospective repayment claim for two key Myprotein powdered products - Impact Whey Protein and Impact Whey Isolate - is estimated to be worth c. £30m.

· The decision in its current form does not automatically entitle THG to a VAT repayment. An update will be communicated as and when relevant.

" The Group has strong liquidity with c. £400m of cash and £150m undrawn Revolving Credit Facility at the period end, ahead of the Demerger which completed on 2 January 2025."

· Continuing revenue (including Ingenuity) of £1,879.6m (+1.1%), with ongoing portfolio management to successfully exit loss-making discontinued categories.

· Over the medium term, revenue growth of mid to high-single digit is anticipated, with adjusted EBITDA margins consistent with historical levels (for Beauty and Nutrition), and significantly improved free cash flow.

· Specifically, capital expenditure will reduce to c. £20m pa (FY 2024 pre Demerger guidance: £100m to £110m) and cash lease costs will reduce to c. £22m pa.

· Future cash generation will facilitate a measured reduction in gross and net leverage, with RemainCo targeting continued progression to a neutral net cash / net debt position....."

JMHO ADYOR!

0% UK VAT protein powders Tribunal judgement, 9 January 2025

· The Group notes the First Tier Tribunal decision in Global By Nature Limited, selling protein products under the 'Sunwarrior' brand. The Tribunal ruled that protein powder products sold by Sunwarrior should be subject to 0% UK VAT, and accordingly, Sunwarrior was eligible for a retrospective VAT repayment.

· Since the VAT rules in relation to Sports Drinks were implemented in 2012, THG has paid UK VAT against its powdered products in line with market practice and HMRC guidance relating to the VAT treatment of protein powders. In the event that THG can make a successful claim by leveraging the arguments in the recent case, a 4-year retrospective repayment claim for two key Myprotein powdered products - Impact Whey Protein and Impact Whey Isolate - is estimated to be worth c. £30m.

· The decision in its current form does not automatically entitle THG to a VAT repayment. An update will be communicated as and when relevant.

" The Group has strong liquidity with c. £400m of cash and £150m undrawn Revolving Credit Facility at the period end, ahead of the Demerger which completed on 2 January 2025."

· Continuing revenue (including Ingenuity) of £1,879.6m (+1.1%), with ongoing portfolio management to successfully exit loss-making discontinued categories.

· Over the medium term, revenue growth of mid to high-single digit is anticipated, with adjusted EBITDA margins consistent with historical levels (for Beauty and Nutrition), and significantly improved free cash flow.

· Specifically, capital expenditure will reduce to c. £20m pa (FY 2024 pre Demerger guidance: £100m to £110m) and cash lease costs will reduce to c. £22m pa.

· Future cash generation will facilitate a measured reduction in gross and net leverage, with RemainCo targeting continued progression to a neutral net cash / net debt position....."

Let's not forget the 0% VAT court ruling...not only should THG get a potential £30 million VAT refund, going forward THG Nutrition could reduce it prices by 20% as there has to be a level playing field in the UK with Global By Nature Limited, selling protein products under the 'Sunwarrior' brand now required to charge 0% VAT on its Protein Powder products.

Let's not forget the 0% VAT court ruling...not only should THG get a potential £30 million VAT refund, going forward THG Nutrition could reduce it prices by 20% as there has to be a level playing field in the UK with Global By Nature Limited, selling protein products under the 'Sunwarrior' brand now required to charge 0% VAT on its Protein Powder products.

It's a lot of sales (£1.76 billion RemainCo) with a value of just £500 million, ask Warpaint and Applied Nutrition shareholders...! They only have £100 million sales each with a combined valuation of £800 million..?

Instead of idle gossip regarding cash/debt etc...Why don't you guys take the time to read the Q4 results update, it explains what's happening with cash, debt rebalancing, reduction in capex etc etc etc etc....

" The Group has strong liquidity with c. £400m of cash and £150m undrawn Revolving Credit Facility at the period end, ahead of the Demerger which completed on 2 January 2025."

· Continuing revenue (including Ingenuity) of £1,879.6m (+1.1%), with ongoing portfolio management to successfully exit loss-making discontinued categories.

· Over the medium term, revenue growth of mid to high-single digit is anticipated, with adjusted EBITDA margins consistent with historical levels (for Beauty and Nutrition), and significantly improved free cash flow.

· Specifically, capital expenditure will reduce to c. £20m pa (FY 2024 pre Demerger guidance: £100m to £110m) and cash lease costs will reduce to c. £22m pa.

· Future cash generation will facilitate a measured reduction in gross and net leverage, with RemainCo targeting continued progression to a neutral net cash / net debt position....."

https://www.lse.co.uk/rns/THG/q4-2024-trading-statement-2tx8ubiykyr2qoi.html

Ephemeral..170p was laughed out due to corruption don't you think? It's funny how Lord Lucan and the entire BOD can turn away an offer of 170p as "significantly undervaluing the company", yet eighteen months later be giving away Ingenuity to mainly insiders for nothing and loading up on £ millions of THG shares for 46p to 49p don't you think? Very suspicious dealings in MHO Adyor!

The only problem with the current CEO is that he's an arrogant, egotistical, charletan that has proven to be an incompetent control freak, who installed a lame duck Chairman and a BOD that only stay at THG because they wouldn't get a job anywhere else.. The sooner MA's Fraser Group makes a move here the better...at least MA thinks 49p and 40p was a reasonable price to accumulate more than 5% of THG's shares. AIMHO ADYOR!

Nothing will happen here as MM and his Yoga Partner own most of the shares now don't they?

Re Hype hero.. when did they sell it and I notice J.G. is one of the Directors? One assumes it disappeared off the books before the 2020 IPO?

https://www.thg.com/news/the-hut-group-acquires-hale-country-club

https://www.halecountryclub.co.uk/