Member Info for Yesimabeliever

Come on then Vivek, let’s see some big enterprise Ingenuity wins to back this up then…I’m hoping the lack talking up the pipeline is a new strategy of underpromise and over deliver…

Well said Oculus, that is my belief also.

MM’s shareholder mates are only his buddies whilst they think he is the best man to make a return for them. The lease issue doesn’t concern me in the slightest. Immaterial in my opinion.

Short term I agree CityPie, but if MM can’t execute the plan and realise value (Ingenuity/SOTP) long term shareholders won’t stay patient forever. If you believe, like I do, that they value the assets well above current share price, that means remove the CEO as opposed to sell your shares

What am I lying about Steve. I see value at these levels. If I am wrong and I lose money, so be it, that is investing. I think MM is a growth CEO, and has made mistakes managing a turnaround scenario as a plc CEO. Overpromising and underdelivering doesn’t work well in plc’s as we all know. He is in last chance saloon to deliver. Ingenuity wins and sum of the parts or he is gone.

It’s not my fault Ste that you got in too early

Good news is this can’t carry on that much longer IMO. MM, having built THG from scratch has earned the right to have a go at fixing the situation and restoring shareholder value now the worst of the inflation surge has passed. Long term shareholders appear to be behind him for now, but he doesn’t have that much longer to start delivering Ingenuity wins and delivering some returns on all of that CAPEX. Otherwise shareholders will turn, THG will be taken out of his hands and broken up to realise the value of the Nutrition and Beauty assets. Even in the later scenario, I believe fair value for the shares sits above the current SP. Personally I still believe MM can deliver with Ingenuity, but I don’t think the scenario where MM stays as CEO and the business flatlines/declines further can be sustained beyond 2024.

My thoughts: SoftBank valued Ingenuity at £4.5billion. Apollo valued Ingenuity at circa £1 Billion (allegedly). Current estimated LSE valuation of Ingenuity circa -£1 billion. That’s why ingenuity client wins can put a rocket up the share price.

We can bang on forever about the LSE’s problems, getting capital/partners in from the US etc, but the big drag on the SP is Ingenuity. RNS a big client win and the game changes here. SoftBank managed to value Ingenuity at 4 billion didn’t they, so come on MM can we please land some whales and see off the doomsday brigade once and for all. Interestingly I heard today of a global FMCG business laying off their whole e-commerce division. They can’t make it work in house. Anybody know a specialist business that does outsourced D2C for global brands??? Still believe in Ingenuity’s market opportunity but time to start landing some big clients to unlock real value for shareholders

THG is up for sale, as a whole or in parts, just not the price or structure of the Apollo deal. MM needs the value up and fresh capital to keep growing the business. The current status quo doesn’t suit him, but the business is well capitalised and he wasn’t going to sell the Crown Jewels on the cheap to Apollo (who are bottom feeders after all) and subordinate long term shareholders who had funded the building of those assets. He’ll strike a deal or deals that suit his long term backers, and PI’s will realise value alongside that.

Thanks for the sector intel. Although you can never please the mood hoovers, those that do hold shares find it interesting/useful.

I agree with Ryan. A couple of enterprise size Ingenuity wins and this is quickly worth £2.5 to £3 as market forced to ascribe value to Ingenuity. Otherwise dial back capex and break it up in a controlled manner. Still worth £1.80.

I used to have zero sympathy for MM for his rants about short selling and the negative narrative it perpetuates around a company. Hit your numbers and you have nothing to worry about. Seeing some of the garbage that gets posted on here, and it's starts you thinking about the dark arts that the big boys employ with the press in their pockets. I am starting to think he has got a point

Could that comment be any more ste2000

Here’s a fact Ste a single RNS can change the picture here in a second.

Well said Cong. FUDsters narrative worked well for a couple years whilst THG had its hands tied behind its back doing the separation, and inflation was creating havoc (as it did for many businesses). Negative narrative is looking a bit tired in the face of THG’s heavily discounted share price, the successful pivot to FCF+ and proven interest in THG’s assets. Good luck to them if they want to be short this, but if they are carrying shorts overnight an RNS could burn them at any point.

Not sure the posters are all MM mega fans. I do think there are plenty like me who think that because of the missed targets, and subsequent FUD and negativity surrounding THG, that the share has fallen too far and doesn’t now reflect the fair value of the assets. A MM discount because of all the investor baggage of the last 2 years. That’s where I’m at with it. I don’t see this going back down to the lows having pivoted to focus on margins and now FCF positive. Beauty and Nutriotion are valuable assets, and Ingenuity has big potential/high barriers to entry in global D2C services. Not everyone has to buy into the shorters narrative

I dunno Polish, courier game is bloody hard yards from what I can see, need huge scale, and very low margin. I like the Ingenuity model, D2C Brand Development/Marketing , Global Ecomm/warehouse management/fufilment with integrated and automated tech - ought to be able to make some margins there with enterprise clients. Just need to sell more of it. Dish out the the distribution to couriers and let them compete on tight margins in what is a saturated space.

Polish Yodel has always been a basket case. Hemorrhaged cash forever even with Very as a captive customer. One to swerve. I believe Crane came in as Ingenuity to drive sales, that is his forte after all, and Ingenuity hasn’t converted enough to date. I suspect Vivek strong on ops, not sales

MM has to do some sort of transaction(s) soon to back up the rhetoric or he loses control of the big shareholders and/or the Board. Either way the clock is ticking. Personally, I don’t think he is the fool that many on here and in the city would have you believe - let’s see what he comes up with