Member Info for ThetaDecay

I have suspicions of impairment charges or other one off charges with the demerger, this isn't uncommon.

Thank you. Good info

JPM are clueless and ant-UK plc. Remember when they downgraded Rolls Royce right at the bottom when it was in the 70p range? Usually a downgrade with these fools means they are accumulating.

I remember Panmure Liberium have been quite positive with THG in the past though and had buy for a while, they obviously switched sides recently.

I calculated 7% too, I'm just repeating what PL said. I'm not massively postive about this raise but i've said before I think we are near cyclical lows and its a fair amount of my current portfolio. I like to hear both sides, I don't know why PL said 13-20% but they obviously did their own calculations.

Surely if results are inline or good then they could have waited for a raise later, not when the price is so much in the dumps at all time lows, not on the first day of FTSE250 trading. It could have been the same deal but with 5% dilution, not 20%, something doesn't add up. Is it MM trying to dilute big Mike's recent purchases? Could it be results are not going to be as expected? Or is it simply because Matt felt like it and wanted to reduce debt now and another middle finger to PI's?

20% dilution would be a nightmare imo

LD1973, its in TradingView News for THG. I also can't find it elsewhere online but seems to be legitimate.

Dow Jones Newswire - TradingView ~ THG Target Cut to 36.0p From 60.0p by Panmure Liberum. THG's refinance and capital raise reflect a challenging moment for the U.K. e-commerce company, Panmure Liberum analysts Anubhav Malhotra and Wayne Brown say in a note. The current macroeconomic backdrop mixed with slower growth and profitability has driven a need for cash, they say. The company is looking to raise between 60 million pounds and 91.2 million pounds via an equity raise and a convertible loan. However, this could dilute shares by between 13.5% and 20.5%, the analysts note. Though it could also save up to 15 million pounds in interest costs, they add. Panmure Liberum downgrades the stock to hold from buy.

THG Target Cut to 36.0p From 60.0p by Panmure Liberum this morning.

Good thing no one listens to PL

Yesimabeliever, this was my first reaction too. Why dilute 7% for £90 million when the price is so low, they could have waited until after results or later in the year when the finances are clear and look better, they could have raised £90 million and diluted 5% instead.

Looking deeper, it could be a way to fend off MA if he isn't part of the II raise, could also be signalling another set of missed results and a possible impairment charge which is what I'm suspecting.

In either case I still see THG as undervalued

Its just made me think twice about results in April, don't like MM is deepening his pockets but I can see the positives. I'll probably wait to increase my position after results, this has me a little spooked.

Status quo remains but MM just lined himself with more shares. Equity raises at these low prices either signals desperation or that the share price isn't really that low. hmm

Its a signal that the next set of results will come with an impairment that will result in negative cash flow, it will be another jam tomorrow situation. Refinancing is a positive, equity dilution with 6% of the 7% going to MM is not great.

7% dilution straight into MM's pockets. This is starting to remind me of 23 and me with their CEO Anne Wojcicki turning the stock price from $180 to $1, constantly increasing her own holdings until she tried to take it private herself throwing the shareholders under the water, eventually announced bankruptcy today.

THG PLC - PROPOSED DEBT REFINANCING AND EQUITY PLACING

THG PLC: PROPOSED DEBT REFINANCING TO 2029 AND ASSOCIATED EQUITY CONTRIBUTION EXPECTED TO RAISE £70M

THG PLC: THG FOUNDER AND CHIEF EXECUTIVE MATTHEW MOULDING TO CONTRIBUTE £60M IN EQUITY

Yeah most likely going down to the low 20's at least. Damn, insider trading and now understand a lot of the price action.

Issue of 91,855,591 new ordinary shares in the Company, representing approximately 6.95% of THG's existing issued share capital or equivalent to approximately £31.2m based on the closing price of THG's shares on 24 March 2025.

Matthew Moulding has agreed to subscribe for up to £31.2m in the Equity Placing. to the extent any shares from the Equity Placing are allocated to institutional investors, Matthew Moulding's subscription will be scaled back;

A further equity injection from Matthew Moulding, structured by way of a non-interest bearing convertible loan (the "Convertible Loan"), which will raise up to £54.6m and may be scaled back by the Company based on demand from institutional investors in the Equity Placing; and

In addition, Matthew Moulding paying up partly paid shares totalling approximately £5.35m.

MM is digging deeper and THG will never be free of him, its now obvious.

When has FTSE 250 inclusion ever caused a sustaining pump? At best it rises and then dumps when traders realise this short term event will not cause a significant change in share price. Trackers have already bought, funds will buy in a way that doesn't effect price. FTSE 250 inclusion makes the shares more liquid and gives it moredemand for when things do turnaround but it doesn't create a permanent increase in share price. So this obsession with FTSE 250 inclusion is either from short term traders or people who don't understand how the market works.

As the other guy says, the only thing that will effect the price long term is results and a turnaround.

This is why I like TIG at this price. Excluding Search, TIG is still undervalued.

Shinez impairment is done and over. The Domains, Identity and Software segment grew revenue by 7.4% and increased EBITDA by 50.4% to $19.4 million. The Comparison segment also performed strongly, with EBITDA up 75% to $16.1 million. The group swung to a post-tax loss of $17.7 million, down from a $25.1 million profit the year before, again due to the impairment charge. Even so, it generated record cash, with adjusted operating cash flow up 7% to $99.1 million and conversion rising to 108%.

A lot of volume this morning. nearly 1 million shares traded in 30 minutes of open (Before last week average traded per day was around 4 million)

Patience is 100% required to get returns here.