Matt Moulding gives up Hut Group golden share

Matt Moulding took another pop at the City after The Hut Group’s (THG) annual meeting.

In a 511-word LinkedIn post, the entrepreneur called out ‘the blatant bad actors’ in the Square Mile.

In particular, the ecommerce group’s founder addressed the broadside at broker Numis and ‘their close friends’. 

There have been tensions between Numis and THG since the investment bank retracted allegations about ‘irregularities in accounting’ at the MyProtein and Look Fantastic owner in 2021. 

Moulding has previously claimed there is a concerted effort from hedge funds and the media to damage his firm’s share price – which closed 6.8 per cent up at 77.84p yesterday.

At its AGM in Altrincham, an event which Moulding described as ‘typically as dull as watching paint dry’, the firm was dealt a blow as 24 per cent voted against re-electing Iain McDonald to the board. 

Two shareholder advisory groups said he was not independent as he has been on the board alongside founders Moulding and John Gallemore for 13 years.