Thg Share Discussion Threads

[zb27] 08/12/2023 10:02

Question is what next?

Another major holder breaks ranks?

Moulding issues a RNS statement for a demerger?

PE firm steps in?

Moulding takes it private?

Whatever it is, most can agree its so horribly undervalued something has to happen, status quo is not an option.

[zb27] 08/12/2023 09:08

Gets more and more intriguing. Fireworks here soon.

What Kelso have suggested is issue an RNS outlining a demerger will happen in the medium term, I.e. when the time is right. This in itself will put a rocket booster up THG.

Atleast small LTH's know, some major holders feel exactly the same. There is a massive undervaluation, and the BOD have to act, otherwise PE will come knocking again.

[fgump] 08/12/2023 08:58

I agree that a split of assets makes sense.What I don't know is given the current dire market for IPOs how on earth they will achieve a decent valuation for anything? Surely any investor will just look back at the group and assume they can buy stock at a discount rather than the higher price for a demerger asset?

[mirabeau] 08/12/2023 08:43

RE: OVMK Asset Management Netherlands


ReplyRecommendReport Post

schlemiel

Posts: 12,095

Price: 79.22

No Opinion
OVMK Asset Management NetherlandsToday 08:41

Statement From OVMK Asset Management Netherlands Regarding the Recent Publications on THG Plc

December 08, 2023 03:30 AM Eastern Standard Time

GOUDA, Netherlands--(BUSINESS WIRE)--Ophorst van Marwijk Kooy Vermogensbeheer N.V. (Hence: OVMK) has taken note of the press release issued by Kelso Group Holdings Plc yesterday and read the article published in The Times (published December 7th, 2023). OVMK has been a shareholder in THG Plc since December 2021 and currently owns close to 2% of the outstanding shares.

We admire the way THG Plc has evolved since the company was founded. All three underlying divisions are high-quality players in their individual niche markets and excellently positioned for further growth. We are, however, disappointed by the significant structural undervaluation of the company’s shares on the stock exchange, despite the improvements made to both the structure of the three separate entities and corporate governance. We therefore agree that this is the right time to unlock value by examining the strategic options for each of the company’s three business units to maximize value for all shareholders.

OVMK Asset Management Netherlands

Ophorst van Marwijk Kooy is a Dutch based Value Investment firm founded in 2009

Contacts

For further information please contact: [e-mail]

[zb27] 08/12/2023 07:47

From the letter it seems like Kelso have approached the big holders and many of them agree! Hence why they are calling for a vote, Kelso must know most would vote for a demerger, the fast money 35% surely would 🤣

What's the next move, some of the big holders publicly speak out?

One way or another Moulding needs to action something which significantly drives up the share price.

Will patiently wait for it to all play out, unlocking day will inevitably come.

[zb27] 07/12/2023 23:55

I think most of missed the major point from the Kelso letter. Why are they calling for a demerger?

Basically if no action is taken immediately there is no doubt another round of bidding will come from PE firms. This time golden share is gone, things will be very different.

They suggested a demerger RNS to drive up the share price.

Its like a drama unfolding.

Remember when Kelso 1st invested, and rumours of Sparta Capital investing as an activist we very quickly had an offer from Apollo.

Plenty of influential people at Kelso, who knows, they may have even heard of another PE firm tabling a bid again.maybe Apollo return? Intriguing drama for sure.

[hades1] 07/12/2023 19:14

Hooded Claw
1. Agree that Kelso aren’t perfect but we need someone pressurising Mad Matt as clearly he is gong to absolutely nothing to release shareholder value without it! That’s where we are at 79p!
2. We have absolutely no idea which shareholders (if any?) supported the rejection of the Apollo bid as Mad Matt didn’t reveal any details just a rough number without any evidence. At the time with his Golden Share it was irrelevant as he didn’t need to provide evidence anyway but knowing Matt as we do he was probably lying anyway.
3. Matt also never revealed the size of the Apollo bid anyway - It’s never even leaked from the supposed shareholders he consulted with???

[disco1984] 07/12/2023 18:26

Don’t think so franky.

Nice try

[one_frankel] 07/12/2023 17:40

You really are stupid Disco because I've been ba_nned on LSE, not once but twice you bloody buffoon!

[disco1984] 07/12/2023 17:19

You’ve been active on LSE Franky.

Who are you kidding lol

[one_frankel] 07/12/2023 17:17

Well hello folks, its been a few days since I was entertaining the asylum but there's not been much positive momentum in the tripe with all these developments, I wonder why hey!

...Anyway, its good to see that JP Morgan has reduced their rating to 48p from 50p and are underweight now even with the tripes best ever quarter...Apparently!

[hades1] 07/12/2023 16:43

Moulding just needs to GO!
That would fix the problem instantaneously.

[london07] 07/12/2023 15:40

hxxps://www.retailsector.co.uk/648126-kelso-ramps-up-thg-break-up-campaign/

Only a matter of time.

Someone is clearly picking up stock at anything below 80p. Surely totally exhausted, can't imagine anyone selling here when the big prize is at multiples.

Why not snap up everything at these levels, with just 1 stroke, THG could be 200p plus.

[bookbroker] 07/12/2023 13:32

Moulding needs to go on a charm offensive with the city, otherwise he might as well take the company private. But having a listing with parts of the company in the US will require the support of those thieves at JP Morgan, so he’d better start eating some humble pie. Outside investors in THG deserve more respect.

[hooded claw] 07/12/2023 12:49

BOIX7 Dec '23 - 11:43 - 61471 of 61472
0 1 0
Sure they have backing from many major shareholders (Institutional and private) given they are talking about 225p per share vs 79p!

===============

They based the 225p on the 220p (they didn't even quote it correctly) SOTP estimate by Liberum earlier this year and has NOTHING to do with having the backing of anybody so I am unsure of your logic that you used ?

At no point since they started investing in THG have Kelso shown they have anymore knowledge than the rest of us and even that knowledge they got wrong.

I am also sure that the Apollo bid was slightly higher than 225p (after they valued Ingenuity at £1b on it's own) and it got turned down by the same major shareholders you are referring to.

[bookbroker] 07/12/2023 12:18

That chairman Charles Allen should e telling MM how the city works, only Ashley has got away with telling them to do one!

[boix] 07/12/2023 11:43

Sure they have backing from many major shareholders (Institutional and private) given they are talking about 225p per share vs 79p!
I have certainly lent them my votes.
Who wouldn’t want 225p except Mad Matt?

[hooded claw] 07/12/2023 10:44

I have seen others successfully do just as I suggested over the last 25 years ... you can't do much with 0.5% but you are a lot stronger with the backing of 10 - 20%

To me it is weak and unprofessional to try to be an activist shareholder without that kind of backing. Activist has act as the first part of the word and Kelso's actions so far have been pretty pointless.

Why would they go and try and poach from the 65% when they can appeal to the fast money 35% first and then go to the larger shareholders with much more control ?

[sparsam] 07/12/2023 10:40

U sold out claw?

[havinthelasttoast] 07/12/2023 10:10

Whilst not wishing to get into a debate with you it’s nonsense to suggest an activist investor would need to publicly say pls come and talk to us. They have a list of shareholders and know the key individuals in all those firms. You would never ever say what you are suggesting in an RNS in my view. I could have course be wrong :)

My conjecture is that they are already talking to major shareholders and the RNs and times article is to apply pressure.

Time will tell but this is all good for us.

[hooded claw] 07/12/2023 10:05

Unprofessional and weak to act in an activist way to increase your voice ?

Yes much better to shout from a half of one percent standing

[zb27] 07/12/2023 09:10

As Kelso suggest all it would take is an RNS from THG clearly outlining their intention to demerge the 3 businesses and share price works itself towards 220p.

[mirabeau] 07/12/2023 09:09

breaking 80p and it's off to the races

[havinthelasttoast] 07/12/2023 09:07

How do you know what they have done ? They know all the shareholders personally. You don’t do that publicly. That’s unprofessional and weak.

Anyway it’s better than nothing. Let’s hope it helps :)