Updates

THG

June 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Having disclosed its approach a month ago, after a short period THG has ended its talks with Apollo about a possible takeover. Interesting to note that THG’s chief executive is quoted as saying Apollo was willing to increase its bid (beyond the 170p offered by Belerion Capital and King Street Capital Management in 2022) and that the US investor viewed THG’s Ingenuity unit as being “more valuable than the whole of THG the day before the bid leaked.” THG has added that recent trading has continued well. Speculative buy. ...

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Card Factory - Beefy 40-page buy note from Liberum

Boohoo - Mid term aspirations imply an EBITDA of £120m against a market cap of £500m

THG - Mulls IPO of beauty business or strategic stake sale (May 2024)

THG - Strong Exit Momentum from 2023 (February 2024)

THG (January 2024)

THG (November 2023)

THG (October 2023)

THG (August 2023)

THG - Operational momentum is improving (July 2023)

THG - Shares rocket following bid approach from Apollo (May 2023)

THG - “Ecommerce in a box for global brands” - shares £1 below last year’s rejected bid (February 2023)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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THG