New chairman for THG as Matt Moulding relinquishes role March 22, 2022 E-commerce retailer THG has named Charles Allen as its new chairman as Matt Moulding will continue as CEO at the beleaguered company. The company had previously declared it would split the roles of executive chair and CEO held by Matt Moulding. Allen, who has the same role at FTSE 250 construction giant Balfour Beatty, is to [...]
THG earnings margin anticipated to be below market expectations as quarterly revenue up January 18, 2022 E-commerce giant THG has said its adjusted core earnings margin would fall short of market expectations, in otherwise buoyant results on Tuesday. The retail group posted a 29.7 per cent jump in fourth-quarter revenue, setting it on a good course for the year However, THG blamed adverse currency movements as it forecast that adjusted core [...]
THG on warpath to prove collusion as firm hands City regulator data dossier January 9, 2022 E-commerce firm THG has given a dossier of data to the Financial Conduct Authority (FCA), in a bid to prove hedge funds and stockbrokers conspired to push its share price down. THG chief executive Matt Moulding believes a dossier of irregular stock market trading and short-selling data will prove collusion against his company, according to [...]
City broker Numis reports itself to FCA over THG memo that went a step too far November 17, 2021 AIM-listed investment bank Numis has apologised and handed itself in to the City watchdog, after one of its employees circulated a bold memo suggesting that ecommerce group THG had “irregularities in accounting”. Numis, a bookrunner on THG’s IPO just over a year ago, has found itself in a sticky situation after the memo to hundreds [...]
Investors shake off latest outburst from embattled THG boss November 8, 2021 THG shares enjoyed a brief moment in the sun on Monday morning before slumping once again, at the market’s first trading opportunity since CEO Matthew Moulding spilled the beans on Friday about his regrets for the group’s IPO. Topping off what has been a tumultuous few weeks for the ecommerce group, Moulding revealed that he [...]
THG shares hit record rock bottom after Blackrock sheds half its stake November 2, 2021 Shares in THG have plunged to an all-time low this morning on the news that its largest institutional shareholder Blackrock sold half of its stake in the ecommerce group after a tumultuous month. Blackrock has sold 58m shares in THG at a price of 195p each, valuing the deal at £113.1m, according to its bookrunner [...]
THG ramps up governance overhaul and begins search for independent chair October 26, 2021 UK e-commerce company THG said this morning it has appointed a consulting firm to begin a search for a new independent chair for the company, in its latest attempt to appease City investors with doubts about the governance and transparency of the business. Alongside its third quarter results this morning, the group announced it had [...]
THG boss Matthew Moulding ditches share pledge against personal Barclays loan October 20, 2021 THG chief executive Matthew Moulding has dropped a pledge of shares in the business as collateral against a personal loan with Barclays, in the latest effort to claw back investor confidence after a bleak share price crash. The company today said that Moulding and his wife Jodie were no longer using THG shares as collateral [...]
