THIS IS THE JUICY BIT...22 May 2026 07:16
The Ingenuity distribution resolution is essentially THG saying the January 2025 Ingenuity distribution may not have been carried out using the exact legal process required under the Companies Act, even though the intended transaction itself was agreed. They’re now asking shareholders to formally ratify and “clean up” the process so everyone ends up in the position originally intended, while also approving legal waivers so directors and relevant shareholders can’t later be sued over the procedural issue. It reads more like a legal/governance tidy-up exercise than an allegation of fraud or missing money, but it does raise questions about how the original process was handled.