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Bob, I m with you on equity deal and distribution rights. Been saying this for a while mate
But I don’t believe moulding will allow it, as he hates to lose control
For me, selling 20% equity to a company strong in offline supermarket presence globally esp uk/ USA, and giving the, distribution rights is the right thing to do. At say 2x/3x earnings and then paying off the long term debt to help FCF positive
But I have little faith left in moulding after the q4 update missed guidance
Agreed hosai, but history is littered by management teams rejecting offers that hindsight make look very good. Best example is Philip green offer for m and s at 9 quid a share
Bet m and s would kill for that now
Bob, not sure you are comparing apples with apples. Kape is tech and higher margin. And not sure anyone is paying 9 beans a share for Thg
Also agree one quid is ridiculous for Thg, I have a target price of 195p
That’s the equivalent of thg getting what? Circa a quid?
Insider ceo buys are never going to pay over the odds for
Agree hosai - as long as you are not a ipo / 500p+ investor, one can only compliment moulding for getting the ipo and SoftBank money
For me it’s so simple- thg and moulding need to just deliver what they say they will.
If they commit to :
1/ surrendering the golden share in 2022
2/ joining the premium market in 2022
3/ 100-130m ebitda (down from previous commitment of 160m) in 2022
4/ sales growth of 10-15% (down from 21%+) in 2022
5/ Ingenuity commerce of 108-112m in 2022
6/ material enterprise whales in 2023 (btw I do believe they will land this - rumours/ hiring/ progress made with nestle/ Kraft/ Matalan / others)
Etc etc
They just need to deliver what they are saying they would deliver - it’s not hard. It is then saying they will deliver it, and investors invest based on what management say
This is why the buck stops with Matthew moulding as ceo
Very well said SIH- fully endorse that.
My worry is moulding is amazingly going even more childish and doing more and more of these LinkedIn rants - it seems to annoy the city even more.
Wow not seen many compare thg to cine- you really are bearish
Don’t cine have a founder ceo with a suspended jail sentence or something….
Hi oke, not sure which Steve you are referring to.
Me personally I have a large long holding, of which 20% is traded and then a short position opened at circa 60p
So hedged but looking more to long hold. I agree with all the potential positives and like a lot of thg business
But know moulding is a liability - for the reasons shared and lots of others. Like most the missed q4 was the final straw for my trust in him. Although dopey John paid the price with his demotion, the buck lies with moulding as founder and ceo
He must oversee some share holder accretive actions before end of h1 to be allowed to stay in role. I feel lord Allen has enough support now to oust him if not
I still can’t believe the mouldy cultists exist. He has diluted you repeatedly, lied to you about guidance, about golden share going in 2022, about beauty being spun off, about 1bn GMV in 2023, about premium listing etc etc, and still you defend him.
Try to separate Thg (which has some excellent business parts such as nutrition and beauty, and some horrid business parts ondemand, experience and the hotels), from mouldy who has just plain not delivered
There is no agenda, the above is fact. He Rns Ed these things and has not delivered them
Licker, agreed moulding And lord Allen have bought a lot.
And via Kelso a number of high profile businessmen have invested circ 150k into Kelso, which has then bought 0.04% of Thg
However, no new II has invested in Thg significantly since Rowe price, who very quickly s9ld down.
At the same time shorts and noticeably marshal wace are increasing their short
The issue, as usual, always goes back to moulding. Most II in U.K. will not invest in a company where there shares have less importance than someone’s shares ie a cursed golden share
They will also often have mandates that the company must have a premium listing from a governance and reporting point of view. Thg is one of less than 10 companies across the whole LSE not to have a premium listing.
It’s not ramp or fud, these things were putin place by moulding and is why the SP is so low. If these go, if mould goes, and if the company starts to actually hit its own guidance, and then deliver positive cash flow, sp will naturally increase.
Until then, why would it?
Pointless article in the times but mouldings rant allowed them the opportunity for more negative press
Moulding must go and be replaced by a seasoned professional ceo, just like RR did
https://www.thetimes.co.uk/article/thg-needs-to-swallow-matt-mouldings-coffee-cure-3nld2fjtm
Yeah fair point - think the main increase was highest ebitda from 140m to 150m
After the bedlam of last week SP movements and mouldings rants, at least the new cfo is guiding the markets well. Funny that when you replace a donkey with a seasoned pro how things improve (maybe should do the same for ceo role now)
Latest is on the website but all tiers are higher - hopefully some more positive reports form analysts next week
https://www.thg.com/investor-relations/analyst-consensus
If any part of Thg is sold in theory the full loan term b needs to be repaid (600m euros)
That said, a JV equity minority sell with distribution rights is something I have long advocated for. It makes sense but will mouldy (who is the villain of the soap opera here agree as he is an utter control freak- think golden share/ having to be landlord, ceo, chair, majority shareholder, stack the board with yes men etc)
I hope sense prevails and they do a Celsius type deal - it’s a no brainier
So funny how all the cult can do is attack other posters, whereas the so called trolls are just trying to bring a incompetent ceo and a misfiring company to task
Cultists - no doubt you will vote mould back to the board at the next AGM? Why?
He has destroyed share holder value
Pearls play your own words back to yourself
If the city one what RNS is coming in April (you would hope they don’t given that insider trading) and the SP is plummeting, what does that suggest to you…
The concern would be thg are doing their FY audit. You don’t often see a 10% high low swing in 2 hours
52p hit- there is more to this . Not looking forward to Sunday newspapers
Can’t believe I am saying this but 52p!!