REG - THG PLC - Response to media speculation

THGAnnouncement

23/04/2025 07:00

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RNS Number : 7574F  THG PLC  23 April 2025

23 April 2025

 

THG PLC

 

Response to media speculation

 

 

The Board of THG (the "Board") notes the recent media speculation surrounding
Myprotein and confirms that it received and rejected a wholly unsolicited,
largely unfunded, highly conditional and non-binding proposal (the "Proposal")
from Selkirk to acquire Myprotein.

 

The Proposal ascribed a headline value to Myprotein of £400m - £600m on a
cash-free, debt-free basis. The majority of the consideration offered was in
the form of newly issued Selkirk shares, and the remainder of the
consideration would have been payable in cash from a new equity and debt
issuance, which was largely unfunded and without appropriate detail on its
source.

 

The Board considered that the Proposal fundamentally undervalued Myprotein and
its prospects, and in addition carried significant execution complexity and
risks, in particular the ability of Selkirk to raise sufficient funding. On
this basis, the Proposal was unequivocally rejected by the Board. THG confirms
that there has been no further engagement with Selkirk since the Proposal was
rejected.

 

Following the Ingenuity demerger on 2 January 2025 and its recent successful
refinancing, the company has reduced its gross and net debt, secured long-term
banking facilities and is focused on executing its growth and cash generation
strategy.

 

The Group's preliminary results and Q1 trading update are expected to be
announced on or around 30 April 2025.

 

 

 

For further information please contact:

 

 Investor enquiries - THG PLC
 Kate Grimoldby, Director of Investor Relations and Strategic Projects  Investor.relations@thg.com (mailto:Investor.relations@thg.com)

 Media enquiries:
 Sodali & Co - Financial PR adviser                                     Tel: +44 (0) 20 7100 6451
 Victoria Palmer-Moore/Russ Lynch/Maria Sizyakova                       thg@sodali.com (mailto:thg@sodali.com)

 THG PLC                                                                media-enquiries@thg.com

ENDS

 

Notes to Editors

THG PLC is a global e-commerce group headquartered in Manchester, UK,
operating through two leading consumer businesses: THG Beauty and THG
Nutrition.

THG Beauty operates prominent online platforms including Lookfantastic, Cult
Beauty and Dermstore, offering a valued route to market for over 1,300
prestige third-party brands, alongside a specialist portfolio of owned brands.

THG Nutrition, led by Myprotein, the world's largest online sports nutrition
brand, spans multiple health and wellness categories, delivering its products
both directly to consumers and through strategic offline partnerships
worldwide.

 

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