NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
26 July 2022
THG PLC
COMPLETION OF INTERNAL DIVISIONAL SEPARATION AND TERMINATION OF OPTION AND COLLABORATION AGREEMENT
THG PLC ("THG") announces that it has completed the internal separation of its key trading divisions which, as previously announced, simplifies THG's corporate divisional structures and provides it with material optionality and flexibility to enter into future strategic partnerships to generate value accretion for its stakeholders.
Further to the announcement on 10 May 2021 that THG had entered into an option and collaboration agreement (the "O&C Agreement") with SB Management Limited ("SBM"), a wholly owned subsidiary of SoftBank Group Corp, THG also announces that in light of global macroeconomic conditions the O&C Agreement has been terminated by mutual agreement among the parties with immediate effect. The call option granted by THG to SBM will not therefore be, and will cease to be capable of being, exercised.
| Investor enquiries: THG PLC | |
| Kate Grimoldby | |
|
| |
| Powerscourt - Financial PR adviser | Tel: +44 (0) 20 7250 1446 |
| Victoria Palmer-Moore/Nick Dibden/Nick Hayns | |
|
Viki Tahmasebi |
|
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
