LONDON - THG PLC announced on Thursday the completion of its previously disclosed demerger process, which has resulted in a reorganization of the company's share structure. The demerger involved a B Share Redesignation and Ingenuity Distribution, which took place on December 30, 2024, and January 2, 2025, respectively.
Following the completion of the demerger, THG PLC's issued share capital now comprises 1,322,058,529 Ordinary Shares and a variety of deferred and ordinary shares including Deferred 1 Shares and Deferred 2 Shares among others. The company confirmed it does not hold any shares in treasury.
Shareholders who chose to participate in the demerger have received Ingenuity Shares, which led to a proportional reduction in their holdings of Ordinary Shares in THG PLC. Conversely, shareholders who did not opt to participate have retained their Ordinary Shares and now own a larger proportional percentage of these shares in the company.
The demerger also necessitates Ingenuity Shareholders who received uncertificated Ingenuity Shares to transfer them into escrow with Equiniti Limited, following specific instructions outlined in the Ingenuity Shareholders' Agreement. These shares will remain in escrow until IngenuityCo confirms that the requirements for a transfer of shares have been met, at which point they may be released to support trades within the matched bargain facility.
This strategic move is expected to allow THG PLC to streamline its business structure and provide shareholders with new investment opportunities through the distribution of Ingenuity Shares. The matched bargain facility is designed to facilitate the trading of these shares among investors.
The capital terms used in this announcement are consistent with those defined in the Demerger circular, which was made available to shareholders on November 28, 2024. This information is based on a press release statement from THG PLC.
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