THG chair Charles Allen buys almost £1m of shares

Charles Allen

THG plc, the Manchester e-commerce, beauty and nutrition giant, announced that its chair Charles Allen bought 1.15 million ordinary shares in the firm at a price of 86.2731 pence.

“The company has received notification that Charles Allen, Lord Allen of Kensington CBE, a non-executive director of the company, has purchased 1,150,000 ordinary shares of £0.005 each in the capital of the company at a price of 86.2731 pence per ordinary share,” said THG.

THG went public at £5 a share in September 2020 and the stock rose to around £8.

However, THG shares have since fallen to around 85p  — giving the firm a stock market value of just over £1 billion — following a disastrous presentation to investors last October and concerns over the company’s structure, transparency and governance.

On March 22, 2022, THG announced that Allen, a corporate board veteran, was joining THG as independent non-executive chair with immediate effect and would have a “clear mandate to refresh THG’s board and further strengthen governance and diversity.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.