The demerger of THG Ingenuity into a standalone business has taken place.

The company’s loss-making tech arm is now split from the profitable THG Beauty and THG Nutrition.

The demerger was confirmed in a low key statement to the London Stock Exchange just days after 88.71 per cent of shareholders voted for it at the company’s general meeting.

The speed of the split is all the more impressive as it comes just four months after the eCommerce giant told the LSE of its intention to take Ingenuity private.

THG raised £95.4m to facilitate the demerger, including £10m from CEO Matt Moulding and £10m from Mike Ashley’s Frasers Group.

THG’s COO John Gallemore will take up the role of Ingenuity’s executive president.

Writing earlier this week on LinkedIn, Moulding said: “Taking Ingenuity private was the obvious solution. And so, the City has now thrown Ingenuity back to me – quite literally.

“My arms are wide open, as are the arms of hundreds of small investors joining me in taking Ingenuity private.”

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Today’s official announcement to the LSE said: “Further to the announcement by the company on 27 December 2024 confirming the results of the general meeting and confirming the number of ordinary shares in respect of which valid elections to participate in the B share redesignation and Ingenuity distribution had been received, the company today confirms that:

  • the B share redesignation occurred on 30 December 2024;
  • the Ingenuity distribution has today been made to holders of B shares; and
  • following completion of the Ingenuity distribution, each of the B shares has been redesignated as a deferred 1 share. As such, the company is pleased to confirm that the demerger has completed.

“Following completion of the demerger:

  • The number of ordinary shares in the issued share capital of the company has decreased and the number of deferred 1 shares in the issued share capital of the company has increased. As at the date of this announcement, the company’s issued share capital consists of 1,322,058,529 ordinary shares, 56,082,651 D1 ordinary shares of £0.005 each, 17,066 D2 ordinary shares of £1 each, 48,605,750 E ordinary shares of £0.005 each, 26,715,453 F ordinary shares of £0.005 each, 16,885,866 G ordinary shares of £0.005 each, 204,404,691 deferred 1 shares and 21,563,860 deferred 2 shares of £0.005 each. The company does not hold any shares in treasury.
  • Shareholders who did not elect to participate in the demerger have retained their holdings of ordinary shares and now hold a proportionally increased percentage of ordinary shares in the company.
  • Shareholders who elected to participate in the Demerger now hold Ingenuity shares and their holdings of ordinary shares in the company have reduced proportionally.”