Member Info for Yorek

This is the wording I was advised by HL:

“We're waiting confirmation of the details before we'll be writing to shareholders. However if the shares are not listed on the stock market e.g. private, then it would not be possible to hold these within your HL Accounts.”

I have THG shares in 3 accounts - SIPP, ISA & Fund & Shares account (normal trading account) and they are saying I cannot hold private shares in any of them.

If anyone gets a different response from HL, please post the wording here.

House of Lords select committee for food, diet & obesity have recommended the following in the report this morning:

“introduce a salt and sugar reformulation tax on food manufacturers, building on the success of the Soft Drinks Industry Levy.”

If (?) The National Food Strategy model were to be used, it would be £6 a kilo added to the price of salt to food manufacturers.

It’s only a recommendation but may show the direction of travel ….

I would have thought the time for a rival offer would be after the publication of the circular and when the share price is lower, because if the share price is lower than 49p, the Ingenuity deal is going to be pro ratad down (as I understand it). So a rival offer that significantly exceeds the pro ratad down value of Ingenuity, would have to be considered….but maybe only approved, if some/all existing investors are permitted to remain. Surely it’s in the interest of any interested parties to allow the share price to fall as low as possible.

This doesn’t mean I believe an offer is in the horizon.

Mr Osborne visited THG:

https://www.balderton.com/news/the-hut-group-announce-100m-of-investment-in-north-west/

Lingotto Investment Management (Chairman George Osborne) seems to be interested in the Ingenuity sector. They took a declarable position in Ocado last year and a few days ago, I read that they’d taken a small position in Amazon….

OAC, I would be very surprised if Ocado were interested in Ingenuity, not least because they’re loss making and have only recently resolved a dispute over patents with Autostore.

There’s 2 parts to the business; the tech side (like autostore) and the retail side. Ocado retail is owned 50:50 with M&S, but they are also locked in a dispute as M&S are refusing to make payments that Ocado believe they are owed.

I feel like it wouldn’t or shouldn’t be on their pad, but I may be wrong.

I feel like M&S would be a more suitable partner, as their chairman recently said they need to be a global retailer, so Ingenuity could facilitate that for clothing/home/ambient food. But I’ve mentioned that before.

Sorry, probably not much help.

If that’s what’s happening, then they don’t see an alternative bid/approach as an option….or any uplift from the AN float or the circular being distributed.

I’m assuming that we’ll get a communication via our broker, like we do when we vote on the AGM and they will facilitate it, but we’ll have to wait for the circular to find out.

Thanks Cong

Just read that the AN IPO is on Thursday 24/10, but I had a diary note for Tuesday 29/10. Anyone confirm either way?

I’m expecting some read across in the press at least.

Sorry Oke, I think I misunderstood your post.

Personally I don’t think anyone will sell any RemainCo shares before March 2025, but I’m usually wrong…

I thought existing large holders were exchanging Ingenuity shares for their own THG RemainCo shares, so no change in number of THG RemainCo shares …. Is that not the case?

Definitely a bargain. Enjoy your holiday.

Received mine. They’re relatively short dated (best before another month or so) but we’ll all be glad to see I’m sure, that it’s the old brand stock being sold through. Or my delivery was anyway.

Knew they were invested but didn’t know their average. Makes me feel a tad more comfortable.

Also mentioned a bit later that trading at around half book value….. with net tangible assets around 46p

Nothing we don’t know. It’s basically an explanation of the RNS’s with a bit about how McDonald was ousted at THG.

Interesting that they’ve reported it at all. Maybe more over the weekend….

“Acquisition vehicle backed by THG activist plans to float

Selkirk, set up by Iain McDonald who had stepped down from Matthew Moulding’s business after investor revolt, wins support of Kelso Group”

https://www.thetimes.com/business-money/markets/article/acquisition-vehicle-backed-by-thg-activist-plans-to-float-sfbtjmjvs

“UK: Upcoming Applied Nutrition float underlines growing interest in preventive health sector”

“Jorge Granados, a Senior Vice President in Houlihan Lokey’s Consumer Group, expects further growth and increased M&A activity in the space, as private equity targets high-growth wellness brands.”

https://www.investorsinhealthcare.com/articles/uk-upcoming-applied-nutrition-float-underlines-growing-interest-in-preventive-health-sector/

Justdandy, what do you get when you join the dots?

McDonald was ousted. He didn’t go willingly…unless we have all misread his relationship with Matt and Matt moving him to an advisor role was to keep his enemy close. I don’t buy that. The last post on LinkedIn I can find to Matt was a pat on the back saying how proud he is of Matt and the team. That was 3 months ago.

Moniman, please post before then if you have any non “drivel” to post….but by that I don’t mean what you over 👂, from a 🧑‍🌾 in the pub 😉