THG founder and CEO Matt Moulding has increased his stake in the Manchester-headquartered online retailer to 25 per cent after the conversion of a convertible loan.
An announcement to the London Stock Exchange revealed that the 53-year-old’s equity interest equates to 429,873,034 shares in the company.
This comprises 307,682,946 ordinary voting shares and 122,190,088 unlisted ordinary shares.
Moulding, who founded THG 2004, reportedly acquired 209.1 million new voting shares at 32.3p worth £67.5m, in a convertible loan conversion.
THG’s share price currently stands at 45.61p, giving it a market cap of £729m.
This represents a significant recovery from its share price of 27p on September 4th.
In March 2025 it was revealed that Moulding had committed up to £60m of his own money as part of a debt refinancing package and equity.
One analyst said at the time: “It’s one of the biggest founder subscriptions on the stock market in UK history.”
Writing on LinkedIn at the time, Moulding said running a business was as stressful as having children.
“Like parenting, founders/CEO feel the burden of nurturing their corporate offspring, bringing solutions to challenges,” he wrote.
“Like any parent, I’m once again stepping up for THG. This time investing a further £60m into THG, underpinning the planned refinancing.
“Joining the LSE four-and-a-half ago hasn’t proved too profitable for me or my family. I will soon have bought £110m of THG shares in less than five years.”
It’s been a busy year for THG, which sold Claremont Ingredients for £103m in a cash deal that saw the online retailer double its money.
The proceeds from the deal reduced THG’s net debt from £330m to £230m in a stroke.
Moulding’s stated ambition is to get to a neutral net cash / net debt position, sparking speculation that he might sell more company assets.