Thg Share Discussion Threads

[bldm] 28/1/2022 16:32

Damn, MM pooped on his party too.

[f56] 28/1/2022 16:19

Thanks kooba.

[bookbroker] 28/1/2022 16:18

Likely borrowed against his holding, very common across the board, in his case he has been foreclosed. Whitehead will not end up on the street, has worked for Barclays Private Equity, so knew the score. Just a bloody nose!

[newswseller] 28/1/2022 16:15

Thanks for your thoughts..

[kooba] 28/1/2022 16:09

My guess is that Whitehead held stock through FIC Shareco a moulding vehicle. He pledged this stock against a personal loan and the share price fall has led to the shares being sold as becoming insufficient capital.Say he borrowed £10m to buy a house yacht make alternative investments whatever and he put 7m shares up as security worth £35m..fine comfy level of cover..however the agreement would specify if the security dropped close to the loan amount (below 140p might be the trigger ?) and alternative security was not forthcoming then the shares can be sold to cover the outstanding..so maybe not a discretionary sale..but he's been closed out. Just a guess but often happens with this result when there's been a sharp fall in a share price that was riding high. PDMR borrowings against stock are disclosable..but it appears the group operations director does not discharge managerial responsibility if this is the case.Alternatively he has just dumped out all his stock for another reason..but i think its unlikely this sale was wanted. All imho.

[bldm] 28/1/2022 15:53

This is when you realise that MM made the statements about the short sellers on purpose because he knew individual investors will blame the share price fall on his statements rather than focus on fundamental problems that exist in the company.

[f56] 28/1/2022 15:51

Yes it’s Steven Whitehead ~£8 million. The shares were held on his behalf by M Moulding.

[hatfullofsky] 28/1/2022 15:50

Disposal by FIC Shareco of ordinary voting shares beneficially owned by Steven Whitehead

[average down mug] 28/1/2022 15:49

🤡☝A039;£8 million this country needs a rebellion move the rich and help the poor disgusting.

[bldm] 28/1/2022 15:40

Thank you kooba, a much appreciated and informative comment. I can't say if this is an odd announcement so I trust your judgement that it is. Just wondering, is this another red flag? Personally, I am a bit wary about THG's accounting and MM's schemes. I am sceptical of anything "unusual" when it comes to accounting/announcements from THG because of the risk of cover-ups or hiding information.

[kooba] 28/1/2022 15:39

So FIC Shareco is a business closely associated with Moulding , where he and his wife deposited shares and borrowed against , the security on their shares was removed. It is not their holding being sold.It appears Whitehead also had shares deposited in FIC Shareco and it is his stock being sold. It is unclear if he borrowed against his holding and this is some sort of foreclosure?By saying he is not a PDMR is saying any borrowing not notifiable i guess.Either way saying Whitehead is not a PDMR or even a PCA of Moulding is odd as indeed he has been with the firm since 2010.

[pre] 28/1/2022 15:35

That’s a great post kooba and looks like some can’t read the rns properly. Shares already priced in and could see overhang clear

[kooba] 28/1/2022 15:31

The Company today announces that on 19 October 2021, it received notification from Matthew & Jodie Moulding and FIC Shareco that the foregoing pledge of Ordinary Shares under the FIC Shareco Loan Facility had been released in full. Accordingly, as of 19 October 2021, no Ordinary Shares legally or beneficially owned by Matthew Moulding or Jodie Moulding (including any such shares registered in the name of FIC Shareco), are the subject of any security or share pledge.

[f56] 28/1/2022 15:29

Presumably it’s Steven Whitehead and the shares were awarded to him?

[kooba] 28/1/2022 15:24

PCA Person Closely Associated with.It's an unusual announcement it is not Matthew Moulding personally ..it then refers to Whitehead but says he is not a PDMR (Person Discharging Managerial Duties) he may not be main board but he is not only a founder but quite clearly a PDMR in his roleSteven WhiteheadGroup Commercial Director at The Hut GroupBizarre..and rather unclear who the underlying beneficial owner of the company is..but in these situations after a sharp fall you find out who has borrowed against their shares and can't put up further security the banks foreclose and the shares are sold to cover loans. This may well have been a factor in then share price performance and this could clear an overhang was it is clearer what has happened.

[welshwiz] 28/1/2022 15:22

Some thicko's cant even read an RNS properly.

[solo4yous] 28/1/2022 15:20

Bed wetters runI'll add here

[1pencil] 28/1/2022 15:16

Need to read back through the previous releases, but at a guess this is do with Goldman Sachs International Bank agreement from last year.

Its the same company at any rate, FIC Shareco

[deanmatlazin] 28/1/2022 15:14

Open 100k short - will join Moulding buying them back at 20p :)

[allenquatermain] 28/1/2022 15:10

Down 6.8%

And all the ignorant desperate losers called the bottom yesterday

BWAHAHAHA

[deanmatlazin] 28/1/2022 15:10

Better short this shares to 20p. So he can sell what he left at that price :)