16th Oct 2024 11:30
THG PLC - Manchester-based e-commerce retailer - Founder & Chief Executive Officer Matthew Moulding takes part in THG's equity raise, as announced last week. Moulding buys 20.4 million shares via FIC Shareco Ltd at 49 pence, worth GBP10.0 million on Tuesday. Moulding now has 341.3 million shares, of which 219.2 million are ordinary voting shares - 14.4% of the expanded total - and 122.2 million are unlisted ordinary shares. THG on Friday said it raised GBP95.4 million in total from the sale of 194.7 million new shares, 14.6% of the total prior to the raise, at 49p. THG raised GBP75 million from a share placement run by Barclays, Jefferies and Peel Hunt. To that was added the GBP10 million investment by Moulding and GBP10 million from acquisitive fellow retailer Frasers Group PLC. The "strategic investment" by Frasers followed a partnership between THG and Frasers that was announced back in June. The equity raise will be used to finance the demerger of THG's Ingenuity division, which operates its e-commerce platform, so as to make THG a pure-play retailer of consumer beauty and nutrition products. THG Chief Financial Officer Damian Sanders also takes part in the equity raise, buying 153,061 shares.
Current stock price: 48.04p, up 2.8% in London on Wednesday
12-month change: down 28%
By Tom Waite, Alliance News editor
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