LONDON - THG PLC announced today that its shareholders have passed a special resolution regarding the B Share Redesignation and Ingenuity Distribution, initially detailed in a circular on November 28, 2024. The resolution received 88.71% approval in a poll vote, with 61.81% of the issued share capital represented.
The company disclosed that 100% of the Ingenuity Shares held by the company had valid elections received. Consequently, on December 30, 2024, a total of 204,081,632 Ordinary Shares will be redesignated as B Shares, a reduction from the original number due to the pro rata scale back of over-elected shares and rounding of fractional entitlements.
This redesignation is a precursor to the distribution of an equal number of Ingenuity Shares to holders of B Shares, scheduled for January 2, 2025. Post-distribution, the company's capital will consist of 1,322,058,529 Ordinary Shares and an increased number of Deferred 1 Shares by 204,081,632.
Shareholders receiving uncertificated Ingenuity Shares are reminded to transfer these shares into escrow as per the Ingenuity Shareholders' Agreement, following the demerger's completion. The agreement was outlined in the company's announcement on December 17, 2024.
The events following the resolution remain on schedule as previously announced on November 28, 2024. These include the crediting of CREST accounts with unsuccessfully elected Ordinary Shares and the crediting of Electing Shareholders' CREST accounts with Ingenuity Shares, both occurring on December 30, 2024, and January 2, 2025, respectively. The finalization of share certificates and the potential repurchase and cancellation of Deferred 1 Shares are also outlined in the expected timetable.
This announcement is based on a press release statement and reports the facts surrounding THG PLC's general meeting outcomes and the subsequent steps in their corporate restructuring.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.