A note posted by THG on the London Stock Exchange this afternoon has revealed that THG co-founder and chief executive, Mattew Moulding, has gifted close to £1m worth in the Manchester online retailer to unnamed “friends.”
The group stated in the note that Moulding had bought 1,169,000 ordinary voting shares in the group, priced at 70.2287p per share, or a total £820,973.
It continued: “Matthew Moulding immediately gifted 1,169,000 ordinary shares to various friends, none of whom are classified as persons closely associated with Matthew Moulding, for nil consideration.”
The note did not name the friends, nor how the shares were distributed among them.
At the time the notice was published, on the afternoon of Tuesday July 27, shares in THG were priced at 66.03p per share.
Moulding currently has a stake of about 22 per cent in THG
Earlier this week the health and beauty retail giant announced it had ended a potential £1.6bn agreement with Japan’s SoftBank blaming “global macroeconomic conditions.”