Member Info for Yorek

“Issuing its EITF document will enable shares in Applied Nutrition to begin trading before the Budget in late October, when chancellor Rachel Reeves is forecast to substantially increase capital gains tax.”

It can’t be coincidence that THG are looking to realise value in the same period….

“An offer run by RetailBook will enable ordinary investors to participate in the Liverpool-based company’s IPO, with an expected intention to float announcement to be issued on Monday, Sky News learns.”

https://news.sky.com/story/applied-nutrition-to-unveil-retail-offer-alongside-500m-float-13224475

This is what Kelso said:

“We note THG’s positive announcement of its Interim results, in particularly, the move to Premium Index and potential demerger of Ingenuity. Well done!”

Is CitySpy now implying Apollo may be back too, with Evri….

CS post: “One way for PE to be successful is to buy business with synergies. The sum is often greater than the parts. For somebody to take on Amazon they would need to offer a warehouse to door solution in the D2C space.”

OSG, hope you’re right. Even my (so far unwavering) support of MM is being tested. Looking forward to a positive outcome for all of us, in the not too distant future.

Cong, I read the transcript of the call last night. This was before the Q&A:

“I think, in terms of the output from the rebrand, just to remind people why we've done this. We've done this to be able to attack a significantly bigger off-line market which we've never really addressed in the past.”

Cong, I’m not sure to be honest. It’s just a gut feeling after all this time….as not much adds-up.

If MM was offered any of the 3 divisions to take private himself, I believe it would be Ingenuity. I therefore think that if some investors have lost patience, he would want to add as much as possible to his holding……which might actually mean him making a play for Ingenuity. I don’t believe he would be allowed to do that, without there being a sale process to raise fair value for existing holders though. I’m also not ruling out SoftBank returning to collaborate with him either.

The changes to Nutrition don’t stack up to me…which makes me think he wouldn’t block a bid/sale. I very clearly remember him saying that offline would not be a focus while he is in charge, and yet we’re now told the rebranding was for offline and how import global collaborations are.

Cong, personally,I don’t believe the man who claims to like building things, has any intention of letting go of Ingenuity.

Reading the report doesn’t tell you that Icon is for sale…….and has been for a while. Why does MM want to sell?

I remember reading somewhere about the transfer rules, that to make the step-up, there has to be no material changes to your business. So to me, they can’t step-up until after the demerger. Happy to be wrong as always.

What a week to take an off grid holiday 😏

If they are looking to the March 2025 reshuffle, surely the demerger needs to be done before Christmas or early January at the latest.

The data for the 2024 reshuffle seems to have been taken from Tues 27th Feb. If we assume it would be Tuesday 25th Feb in 2025…..and they have to give a “minimum of 20 business days notice” “to effect the transfer” as per the Deliveroo update, surely it all has to be done & dusted before w/c 27/1/25, to qualify for the March reshuffle.

“Just six months in, we’ve achieved truly industry-leading ecommerce fulfilment speeds for Holland & Barrett: 🔊SOUND ON FOR THIS🔊

✅From order being placed to dispatched from our warehouse? 𝟭𝟬 𝗺𝗶𝗻𝘂𝘁𝗲𝘀

✅From order placed to the customer receiving the product? 𝟭𝟮 𝗵𝗼𝘂𝗿𝘀

Watch how we do it with Holland & Barrett's new Tribiotic range transitioning through one of our UK facilities, 𝗶𝗻 𝗳𝘂𝗹𝗹 𝗔𝗦𝗠𝗥 𝗴𝗹𝗼𝗿𝘆.

We'll look forward to sharing more insight on our Holland & Barrett relationship over the coming weeks....

Thank you to our partners AutoStore™ for sponsoring this video series, all powered by THG Fulfil👏

THG / THG Studios / THG Ingenuity”

This article outlines one of the reasons why global food companies are interested in nutrition related companies to diversify their portfolios. Warning labels are already used in some parts of the world and they are being considered in many other regions, including 🇺🇸 it seems.

https://www.washingtonpost.com/health/interactive/2024/food-warning-labels-fda-healthy-choices/

Looks like they’re owned by UK Investor Group. No mention if FT:

https://www.ukinvestorgroup.com/portfolio/

Https://ukinvestormagazine.co.uk/thg-surely-there-is-no-need-to-rush-into-the-shares-before-next-weeks-interims/?mc_cid=0d44e8b133&mc_eid=17d032cad5

THG PLC

Notice of Half-Year Results

THG PLC ("THG" or the "Group") will publish its results for the six months ended 30 June 2024 on 17 September 2024.

The THG management team will be hosting a conference call and webcast for analysts and institutional investors on 17 September at 09:00 BST.

Baron also added this afterwards:

“I would just add on this maybe an important and final point also. Last year there was £80.8m of merger and acquisitions costs and if you strip that out you actually get to the same £110m net debt for FY22.

Important also because SFOR announced in March: "The majority of the [M&A] cash payments have now been made with the majority of the balance of £11.4 million settled in the first quarter of 2024". One big headwind gone!! I care but really appreciate it if you don't 😅

Now off to the gym, have a great day”

“Deliveroo plc ("Deliveroo" or the "Company" and together with its subsidiaries, the "Group") announces that it is proposing to transfer the listing category of all of its ordinary shares of £0.005 each (the "Ordinary Shares") from the equity shares (transition) category of the Official List maintained by the Financial Conduct Authority (the "FCA") (the "Official List") to the equity shares (commercial companies) category of the Official List, in accordance with UKLR 21.5R and UKLR TP 2 (the "Transfer").

The provision of a minimum of 20 business days' notice (which period commenced by way of today's announcement) is required to effect the Transfer. No shareholder approval is required in connection with the Transfer. It is anticipated that the Transfer will take effect at 8.00 a.m. on 10 October 2024 and is conditional on the approval of the FCA.………”

There’s a lot more if anyone is interested, worth a read.

“inadequacies”….I guess that’s one interpretation. Others have suggested in the comments that he’s shown strength of character in being open and honest about the situation he finds himself in.

Anyway, I still believe that TGL and fellow NEDs have challenged Matt and it’s led to the pivots we’re seeing. I also believe there’s a plan, that will emerge, but in the meantime, the lack of news means low volume and manipulation.

I note we have not yet had the GlassMoon Matt Moulding interview, even though it was referenced in TGLs interview. I guess that will be his opportunity to take centre stage (which he clearly doesn’t enjoy) to explain all, so it will probably be recorded after the plan materialises.

On LinkedIn:

“I'm proud to share that THG has been awarded Supply Chain Initiative of the Year (EMEA) at the esteemed Environmental Finance: Sustainable Company Awards 2024.

Recognising our work in building a resilient and sustainable supply chain, the award honours our Partnership in Action (PACT) initiative, which launched last December. Our THG x PACT initiative seeks to work ever more closely with our suppliers, fostering a culture of sustainability and transparency, whilst mutually decarbonising operations 🤝

The demand for real impact means that it's imperative for governments, organisations, businesses, and individuals to collaborate on sustainability efforts . THG has global scale, partnerships, and capacity, and I'm proud of the way we're leveraging this to accelerate change 🌍 🔄 .

Congratulations to everyone who worked to develop this award-winning initiative, with a special shout-out to my team members Clare Clark, Louise Earle, Claire Grimstead (MBA), and Georgina Barry who helped drive and lead this all. A huge well done to all the other winners 🏆”