THG Completes Ingenuity Demerger Following Shareholder Approval

THG, the eCommerce giant, has officially announced the successful demerger of its tech arm, THG Ingenuity, from the profitable THG Beauty and THG Nutrition. This decision follows the overwhelming approval by 88.71% of shareholders at the company's recent general meeting. The demerger was swiftly executed and announced through the London Stock Exchange, just four months after THG publicly expressed its intention to spin off Ingenuity. To facilitate the process, THG raised £95.4 million, including contributions from CEO Matt Moulding and Mike Ashley's Frasers Group. Post-demerger, Ingenuity has become a standalone private entity with John Gallemore appointed as its executive president. The shares have been reorganized, leading to a proportional decrease in ordinary shares for participating shareholders.