Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
As usual asos flying / thg dropping
My guess is that 1m trade yesterday was another short loading. If we can’t go up on a day like today, there really is no hope, except if news lands (and we all know how unlikely that is)
Normally goes very red when that happens….
Seems thg is being held down again. Can’t believe volume is so low and with all indexes / Sinai LR companies green, market makers are up to their tricks
100% agree Boom. Once the golden share goes, all the vultures will appear. Moulding only has voting rights on around half his shares so his position is fairly weak if sofina and/ or balderton go against him
Then THG become so attractive for external parties due to top quality nutrition business, decent beauty online business and tax write off benefits (with fairly low net debt of circa 160m and then leases)
Boom , that is a very good point. Is a big II or wealth fund bought Thg for say 2£ per share, it would only cost them circa 2.8bn but the 2bn tax loss to offset other profits they may make, is good dust for FCF of the other business interests in that group
What a kick in a gut end to the day
Totally legendary - well played to the poster who did it. Maybe the real lord Lucan Allen will now start to rain in moulding
The best outcome for me would be :
1/ an equity share of nutrition (say 20%) to be sold to a company that could then also have the distribution rights for myprotein offline (where thg are weak). This would both validate a price for the nutrition buisness and create new revenue whilst reducing debt / increasing cash
2/ the supposed boots ingenuity deal to be true as this would validate ingenuity and also put the spare capacity to work. I would also like to see a JV here between boots and thg beauty (this could help squeeze suppliers on prices)
3/ the utterly unneeded hotels and spa leaseholds and assets to be sold and money used to pay done debt-
This would also reduce cost outgoing and staff numbers
4/ McDonald to be thrown off the board and replaced with at least 2 new independent NED
5/ golden share to go immediately and before it expires in sept as a good will gesture
6/ ideally moulding replaced with professional ceo
But Thg won’t Rns it - you just can’t trust them at all. They still operate as a private company, only sharing info with a select few.
It’s a total joke of a business run by a clown
BOIX, are you still invested here?
Ut below day low- shorts back with games
60p about to go
Someone always has to jinx it!
I m still waiting on my emails sent
1/ to me on whales and boots specifically
2/ on Matt moulding outbursts affecting SP
I think the thing that annoyed so many was the ridiculous decision to do price protection for nutrition
They essentially pised away 50m editda here
#mouldingout
Good find 1pencil/ this really shows how utterly hated thg is even with existing shareholders. They reference the investor forum again and still they fully exited as did SoftBank as did t Rowe price as did blackrock
Case study: THG
The Investment Adviser engaged with the company's Senior Independent Director in October 2021 after THG suffered heavy selling pressure following a capital markets day. The declines reflected a number of factors, including investor concerns about the group's governance arrangements.
The Investment Adviser highlighted the need for enhanced financial disclosures at the divisional level and called for the search process for a new independent Board Chair to begin immediately. The Investment Adviser expressed its view that potential candidates should have a proven track record of leading large, listed businesses.
The company subsequently announced several moves designed to improve corporate governance and disclosed that the search process for a new Independent Chair had begun. The Investment Adviser was pleased when the company appointed its first independent Board Chair in March 2022 and continued to engage with THG, both directly and also via a collective engagement with other shareholders, coordinated by the Investor Forum.
While further positive governance changes have subsequently taken place, including the appointment of new independent directors, the Company has since exited its position in THG.
LD, very well put sir. You are spot on. Lse hates golden shares. II hate standard listing. All don’t massively like or trust moulding. Hence the need for therapy sessions with existing shareholders and very few to none new ones in the last year
Does feel like Mould needs to go when the GA goes in sept
Get your point so he can buy on the cheap?
Yeah I don’t trust moulding at all! But it’s good that useless John was sacked as cfo and we have a respected professional in sanders now there so we can trust numbers going forward.
Mouldings power base is almost gone. The board is quite independnant now except that scum McDonald (who we all reckon will be the best out) with new NED coming
Moulding isn’t ceo and chair anymore
Rumour is sofina are ****ed hence why they did the RNS to show dillution (they didn’t need to - remember balderton didn’t/ QIA didn’t / moulding himself didnt )- should be seen as discontent
All over twitter / LinkedIn / here / advfn etc PI have had enough of moulding and his big lying mouth
Think Allen will deal with him swiftly as his golden share can’t save him from a vote of no cofidence and as well all agree - he’s a top entrepreneur but maybe one of the worst ceo ever on the lse
Mon, the results were so poor don’t think we have to worry about cooking the books. That’s only when companies report unbelievably good results. Thg have never done that hence why they are hated in the city
Mould is a BS merchant but not dishonest IMO
Thanks Oke. I just don’t understand how, with whey now so low, and with the business bigger than 2021/ 2020, they are forecasting to make less ebitda than then 161/151m
Is it simply because these past numbers were rubbish and just adjusted to hell? Ie a fake read like all the analysts highlighted