Member Info for Yesimabeliever

@oohahh. Wants your view on consideration THG shareholders can expect for Ingenuity?

Magnum, on call, MM said Ingenuity agreements/contracts with Ingenuity are all established and working. No material changes to be expected

About right I think @stockbroker.

I think Qataris might write cheque, sounded like one of their existing “stakeholders” we lined up

Market hated Ingenuity. when we get more clarity on timing/value of it going, THG will re rate IMO

My takeaways:

- MM has showed his hand and has to deliver Ingenuity demerger or he is gone. Whilst detail was light, IMO they are well on with it.

- He thanked stakeholders for their support. Clearly not all want to fund Ingenuity any more, hence the spin out. Some will, the rest will see their returns in THG (as will PI’s)

- Sounded to me like one or more of the 65% could be funding Ingenuity. the Qataris who have the liquidity and can take a longer term view to fund infrastructure plus tech.

In the short term the hyenas will be telling us Myprotein is failing etc blah blah blah, but I do expect it to come strong now rebrand is complete.

But actya

Everything we could have hoped for, apart from nutrition which is a big drag. Big question is will market buy that it will recover as per last rebrand?

“Nutrition last underwent a rebrand in 2018, at which point ASPs reduced by c.8% (vs FY 2017 +c.8%), before returning to growth of +c.14% in 2019”

With nutrition trading poorly, expect FY cash flow positive will be missed?

But Ingenuity is a massive positive, both performance and demerger

exciting stuff here’s hoping tomorrow goes well 🤞

well done to those lths who have held through an avalanche of ****e on here. special commendation to crafty for leading the fight during the bleak times. in the words of mm, “maybe we aren’t mad after all”.

Brenchuk called it at 15:40 today. Credit where credit is due.

“My expectation is that Ingenuity will be spun off into a partnership outside of THG, and Beauty and Health will remain on the LSE as is as a combined business. It isn’t going to NYSE. Let’s see this play ou”

City spy deserves air time for front and comedy. Insight=zero.

PI’s would be cashed out in a take private. Price would be in the £2’s. MM hates being a UK plc CEO, if he is to stay it has to go private IMO. Then build the management teams out in the divisions over time, and MM exits as the group breaks up.

I still believe THG is ripe tor a take private, taking about the free float and recapitalising the group (allowing the 65% to roll). Acquire brands into nutrition and beauty, which would become Ingenuity customers by default and further organic ingenuity sales to reach Ingenuity positive cash flow. Break up the group in 5 years

@Brench, interesting. I’ve always thought Ingenuity lacked sufficient scale with 3rd parties to stand on its own two feet yet. That said, he has brought in a chair and a CEO, so has the right Board structure to attract external investment.

Does anyone have any good analyst research on Autostore? products/services look outstanding, but recent share price performance has been poor (2/3 down from peak). Not that we have been in a cyclical downturn of course, MM is a charlatan etc etc. Interested in exploring the investment case for autostore as expect their margins will be fatter and more bullet proof than the Eretailers?

Cheers Crafty, think that sums up nicely why most are invested here.

Hopefully Tuesday can see the start of some of that value being recaptured. Can’t think MM & BoD will want to sit on their hands wallowing in the 60’s now the restructuring is done.

Time to get the share price up and hit the accelerator again on growth.

Come one Matty Boy, joining the LSE main category will as a step forward, but why not throw in a cheeky strategic transaction in Beauty/Nutrition and really stick 2 fingers up to the naysayers.

GL LTH’s

Or the less veiled “you deserve what’s coming”.. he loves rolling that one out 🤥 🤥

Cue a passive aggressive thinly veiled threat of impending doom, very worries for shareholders 🤥 🤥 🤥

AKA polishcap, aka APH.:

You told us results were terrible and it was going into the 30’s 🤥 🤥 🤥

Solid point VC. Let’s not forget that THG has spent the past 12 months deliberating dialling back growth in non core markets, to focus purely on margin. It is going to be interesting to see what the core profitability looks like in those core markets now the world has stabilised. A EBITDA suprise to the upside would go down nicely

He’s quoting an old bit of retail research from about 18 months ago when THG was indeed not growing….deliberatley… classic “wild tiger”

Something is cooking surely…