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Much happier about my investment after AGM than before. Had a chat with MM at the end he is a very approachable guy.
Shook hands with Lord Allen, IMHO the 3 divisions are in safe hands , the company is not the share price but am confident that will change very soon. :)
Good post and reassuring.
THG leadership need now to work on a strategy to get some control back on their share price, to prevent shorts and day gamblers running amok, as they do each and even today, and even as we write
Crafty we all hope it changes soon lol
Thanks Crafty. Much appreciated.
Thanks for sharing Crafty
Crafty - Did he understand investors frustration with the sp?
To be honest, Crafty is the most positive on this board, so this is hardly a massive 180! If Ste2K went to the AGM and came out with this statement, I would be a lot more surprised.
Crafty
Thanks for that.
Any reference to corporate reorganisation ala Kelso proposals?
Nice work Crafty and thanks for the positive update 👍
"but am confident that will change very soon. :)"
Based on what Crafty ? TBF You have always been confident of that for quite a long time now.
Interesting Gillian had more votes against than the chairman
I thought the same, very odd, I wonder what the issue with Gillian is?
But still, it's clear that CA had a small but noticeable percentage voting against.
Looks like Kelso, Cookson and OVMK were pretty much swatted away again.
I wonder if KLSO will do a LinkedIn post pontificating about the results of the AGM. Let's face it, they didn't come across particularly well in the last one where they were crying about being compared to Matt's dogs.
Possibly good for stability that all have kept their seats at the table. However I hope the lower percentage for some is a wakeup call that investors wish to see strong strategic progress.
If this stock gets moved to main market there will be buys from tracker funds etc that will hopefully move us north.
Crafty, can you please elaborate as to why you are more confident? Some context would be great.
@hermit The asian guy to my left, same fella who asked a question last year, asked some questions after me and explained he had invested all his pension in THG and I don't think at a very good average.
MM assured the room that the board are there to represent ALL shareholders equally.
@hermit I had a private chat with MM at the end of the AGM and what was said will remain private, nothing price-sensitive but enough to make me feel that my investment is in safe hands.
As I said before he is a very approachable bloke and not the ogre many make him out to be. I would encourage anyone who is a LTH to get to the next one.
I agree Magnum, I voted for stability and Charles Allen to see the job through that he has started. Nobody on that Board is happy with where the share price is, and I am sure they have a plan to address it. Let’s let them get on with it rather than second guess/criticise every move they make off limited information (that happens a lot on this board). The big II’s have shown their support for CA/MM, and some of them have £100’s millions at stake. Unlike Kelso.
I got the impression that they plan to get the share price back to where it belongs which is many multiples of where we are now.
The market cannot ignore FCF positive FY2024 and more ingenuity wins in the pipeline
*I got the impression that they plan to get the share price back to where it belongs which is many multiples of where we are now.*
I would be amazed if this wasn't the general aim of any BOD where the share price is way below the IPO price.
What specifically did they say that suggested a sense of urgency, hitherto seemingly absent...?
‘The market cannot ignore FCF positive FY2024 and more ingenuity wins in the pipeline‘
Clearly it can. The market pays little attention to this type of activity and will move the share price up or down to suit their own ends. Corrupt, and why so many companies are shunning the London market.
No disrespect to anyone at THG but how do they intend to get the SP back to where it belongs, and what exactly have they been doing over the last 3 years.
I'm not saying there isn't a strategy but it would be good to know exactly what it is and why they are confident it will work - especially when considering there is little evidence to show that they've had any success in moving the SP in the right direction since the IPO whatsoever, other than occasional unsustainable spikes related to possible takeover activity that never transpires.
Also what levels of FCF are they expecting to generate and if its free what are they going to do with it? Using it to generate more FCF or paying a dividend /share buyback would definitely give the SP a boost and it would also have the benefit of making life difficult for anyone trying to short the stock.
@speci
FCF would be re-invested in growth according to annual report 2022
FCF would also be used for M&A, on that note I wonder if they had a cheeky bid on Body Shop?
Wonder what the timeline is to finding out who won?
But reinvested in what and to what end, for what purpose.
The purchase of Biossance is a prime example of this. THG spent US$20m on this but we know next to nothing about if it was a good decision or not. In an ideal world this would the fully integrated into THG operations generating FCF and providing a good RoE and if it isn’t questions should be asked as to why it isn’t and what’s gone wrong because it otherwis you are basically burning through cash with nothing to show for it and the SP will reflect that.