THG PLC Share Purchase (1688D)
October 17 2022 - 12:56PM
UK Regulatory
TIDMTHG
RNS Number : 1688D
THG PLC
17 October 2022
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REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
17 October 2022
THG PLC
Share purchase
Sale of entire Softbank shareholding to each of QIA and Founder
& CEO Matthew Moulding
THG PLC ("THG" or the "Group"), the proprietary technology
platform specialising in taking brands direct to consumers
globally, has today been informed that SB Northstar LP ("Softbank")
has agreed to sell 80,621,797 ordinary shares of GBP0.005 each in
the capital of THG (the "Relevant Shares"), representing its entire
shareholding in THG, to each of Qatar Holding, LLC ("QIA") and
Matthew Moulding (through FIC Shareco Limited ("FIC Shareco"), a
PCA of Matthew Moulding) in the following proportions: 67,801,285
to QIA and 12,820,512 to FIC Shareco.
The Relevant Shares are to be sold at a price of 39 pence per
share and settlement of the sale is expected to take place on 20
October 2022, following which the relevant notifications are
expected to be made in accordance with the Disclosure Guidance and
Transparency Rules and the Market Abuse Regulation 596/2014 as it
forms part of the domestic law of the United Kingdom by virtue of
the European Union (Withdrawal) Act 2018.
QIA is an existing shareholder, having cornerstoned THG's
initial public offering in September 2020, with deep expertise in
retail, consumer and technology and a focus on growth opportunities
which have a positive impact.
This acquisition by FIC Shareco on behalf of Matthew Moulding
further evidences his commitment to the Group and its strategy, and
is his fourth investment in THG since IPO, with over GBP38m
invested in August 2021, July 2022 and October 2022. This purchase
will take his direct and indirect holding to a total of 320,934,183
shares in THG, comprised of 198,744,095 ordinary voting shares and
122,190,088 unlisted ordinary shares, in each case of GBP0.005 in
the capital of THG.
Matthew Moulding, CEO commented:
"I'm delighted to be further increasing my family's stake in
THG, continuing our unswerving support following on from other
recent share purchases. QIA shares the Board's vision of the scale
of opportunity for THG, building a British global success story in
large and growing addressable markets. QIA's long-term investment
approach is a positive endorsement for the UK as a whole.
"I'm incredibly proud of the progress the team continue to make
in each of our major divisions, and believe the uncertain
macro-conditions provide an even greater opportunity for THG to
further disrupt global Beauty, Nutrition and Technology
markets.
"We at THG extend our thanks to Softbank for their support as a
financial and commercial partner, and we will continue to benefit
from the relationships formed across their international technology
portfolio."
For further information please contact:
THG PLC
James Pochin, General Counsel and James.Pochin@thehutgroup.com
Company Secretary
Media enquiries:
Powerscourt - Financial PR adviser Tel: +44 (0) 20 7250
1446
Victoria Palmer-Moore/Nick Dibden/Nick thg@powerscourt-group.com
Hayns
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END
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