Tosh in the Times26 Mar 2025 08:50
This tosh is being rightly called out in the comments section. My favourite comment is the one suggesting they’d rather be fostered than have Moulding as their father. A deluded, useless and narcissistic CEO spouting nonsense.
The founder of THG has agreed to pump an extra £60 million into his struggling beauty and nutrition empire as part of a fresh fundraising round to pay down debts.
The group behind the Cult Beauty, Look Fantastic and Myprotein brands has raised £90 million from a share issue with existing and new City investors, which it said was oversubscribed.
Most of the funds came from Matt Moulding, THG’s chief executive, who agreed to a £55 million convertible loan and £5 million of “partly paid” shares. He has invested about £50 million in THG shares since its flotation at a valuation of £5.4 billion in 2020, when the shares went on sale at 500p apiece.
Group photo of four people in front of a snowy mountain range.
“You can be certain a THG project will always fall in the middle of any planned trip,” Moulding wrote
MATTHEW MOULDING
The remaining £30 million was through a placing of stock at a price of 32.3p, a 5 per cent discount to Monday’s closing price. The group said the cash would be used to reduce gross debt, which stood at around £686.2 million at the end of the 2024 financial year.
The announcement sent shares in THG, which have declined by about 95 per cent in the past five years, up by 1p, or 3.2 per cent, to 35p on Tuesday.
ADVERTISEMENT
THG, which was co-founded as The Hut Group by Moulding in 2004, has struggled since going public amid disappointing sales and a series of corporate governance rows.
Moulding has long been vocal in his criticism of media coverage of his business and the challenges of running a publicly listed company. In a post on LinkedIn on Monday, Moulding reflected on the “crushing burden of responsibility” of running a business and how it is “a lot like parenting”.
“Joining the [London Stock Exchange] four and a half years ago hasn’t proved too profitable for me or my family,” he said. “I will soon have bought £110 million of THG shares in less than five years. Despite the CEO role normally attracting remuneration of £3 million a year, since [the] IPO I’ve waived all remuneration and expenses, effectively paying to go to work each day. I do get free coffee, though.”
The post was accompanied by a photograph with family and friends standing next to a private jet.
Group of people standing in front of a private jet.
MATTHEW MOULDING
The pictures were from a weekend’s ski trip with friends, which Moulding complained was interrupted by business calls. “You can be certain a THG project will always fall in the middle of any planned trip,” he wrote.
ADVERTISEMENT
He added that his wife, Jodie, and his children frequently tell him that he is an “idiot for not taking the £15 million in remuneration these past five years
Sign In
Follow the stocks
