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The group, whose 2020 market debut was the largest London listing in seven years, told shareholders on Tuesday it is 'actively undertaking detailed work' in order to 'facilitate the demerger of THG Ingenuity'. THG has undertaken a restructuring as part of a strategic review of its loss-making units, having issued several profit warnings post-IPO as trade suffered rampant inflation and poor consumer strength. THG shares have fallen more than 90% since their 2020 market debut In a short statement, the Lookfantastic and Myprotein owner said there can be no certainty on timescale but structuring tax clearances have already been approved by HMRC.
It added: 'Pursuant to THG's stated strategy to maximise shareholder value, and following extensive shareholder engagement, the group announces that it is actively undertaking detailed work to review potential structures to facilitate the demerger of THG Ingenuity.' The announcement..
. Mike Sheen.
