THG PLC Removal of the Special Share (3078P)
October 18 2021 - 2:00AM
UK Regulatory
TIDMTHG
RNS Number : 3078P
THG PLC
18 October 2021
18 October 2021
THG PLC
Removal of the Special Share
and
Commitment to apply to the Premium Segment of the Main Market in
2022
Special Share removal & application to the Premium Segment
of the Main Market
THG PLC ("THG or the "Group") announces that Matthew Moulding,
CEO, in furtherance of good corporate governance, has confirmed his
intention to cancel his Special Share rights. This cancellation
will facilitate the Group's application to step-up to the Premium
segment of the Main Market of the London Stock Exchange in
2022.
Features of a Premium Listing for consideration by shareholders
include:
-- the opportunity to vote on any future material acquisitions
in accordance with Chapter 10 of the Listing Rules;
-- the Group will be required to comply with the requirements of
Chapter 11 of the Listing Rules relating to the announcement and,
in some cases, the approval, of related party transactions (as
defined in the Listing Rules); and
-- a Premium Listing will permit THG to gain UK FTSE indexation.
While the Group currently complies with many aspects of the UK
Corporate Governance Code published by the Financial Reporting
Council, THG's Board intends to undertake a further review of its
corporate governance arrangements in conjunction with its
application to step-up to a Premium Listing.
Matthew Moulding, CEO, commented:
"After the anniversary of our 2020 listing we feel that the time
is right to make this next step and apply to the Premium segment in
2022, thereby continuing the development of THG as we endeavour to
deliver our strategy for the benefit of our shareholders, key
stakeholders and employees."
For further information please contact:
Investor enquiries - THG PLC
Kate Grimoldby Investor.Relations@thg.com
Media enquiries:
Powerscourt - Financial PR adviser Tel: +44 (0) 20 7250
1446
Victoria Palmer-Moore/Nick Dibden/Nick thg@powerscourt-group.com
Hayns
THG PLC
Viki Tahmasebi Viki.tahmasebi@thg.com
ENDS
Notes to editors
THG ( www.thg.com ) is a vertically integrated, digital-first
consumer brands group, retailing its own brands in beauty and
nutrition, plus third-party brands, via its proprietary,
end-to-end, e-commerce technology, infrastructure and
brand-building platform (THG Ingenuity) to an online and global
customer base. THG's business is operated through the following
businesses:
THG Ingenuity : Ingenuity Commerce provides an end-to-end
direct-to- consumer e-commerce solution for consumer brand owners
under 'Software as a Service' (SaaS) licences. The wider Ingenuity
division provides stand-alone digital services, including hosting,
studio content, translation services and beauty product development
and manufacturing.
THG Beauty : The globally pre-eminent digital-first brand owner,
retailer and manufacturer in the prestige beauty market, combining
its prestige portfolio of eight owned brands across skincare,
haircare and cosmetics, the provision of a global route to market
for over 1,000 third-party beauty brands through its portfolio of
websites, including Lookfantastic, Dermstore, Cult Beauty and
Mankind and the beauty subscription box brand GLOSSYBOX.
THG Nutrition : A group of digital-first Nutrition brands, which
includes the world's largest online sports nutrition brand
Myprotein, and its family brands (Myvegan, Myvitamins, MP Clothing
and Myprotein Pro), with a vertically integrated business model,
supported by six THG production facilities.
THG OnDemand : Personalisation and customisation is a key
offering within THG OnDemand, enabling brands to offer unique
products to a vast range of consumers across THG's global
territories through websites including Zavvi, IWOOT and Pop in a
Box.
Other : Luxury D2C websites including Coggles, AllSole and
MyBag, in addition to THG Experience. The latter comprises prestige
events locations at Hale Country Club & Spa, King Street
Townhouse Hotel and Great John Street Hotel, providing deeply
experiential brand building environments, most notably in support
of THG Society, the Group's proprietary influencer marketing
platform.
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END
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