Matt Molding gives Hut Group gold share: Entrepreneur calls City ‘bad actors’ in online tirade
Matt Molding took another look at the City after The Hut Group (THG) annual meeting.
In a 511-word LinkedIn post, the entrepreneur called out “the blatantly bad actors” in the Square Mile.
The founder of the e-commerce group mainly addressed broker Numis and ‘their good friends’.
‘Motivation’: THG founder Matt Molding (pictured with wife Jodie) has claimed there is a concerted effort by hedge funds and the media to hurt his company’s stock price
Tensions have been brewing between Numis and THG since the investment bank withdrew allegations of “accounting irregularities” from the owner of MyProtein and Look Fantastic in 2021.
Molding has previously claimed there is a concerted effort by hedge funds and the media to hurt his company’s share price – which closed 6.8 percent yesterday at 77.84 p.m.
At the Altrincham AGM, an event Molding described as ‘typically as boring as drying paint’, the company was dealt a blow as 24 per cent voted against Iain McDonald’s re-election to the board.
Two shareholder advisory groups said he was not independent, having served on the board with founders Molding and John Gallemore for 13 years.