One of Manchester's richest men has gifted shares in his retail and software giant worth more than £800,000 to a number of his friends.
Matthew Moulding, who is chief executive of THG, has bought a further 1.169 million shares in the Manchester-headquartered retail giant at a price of 70.2287p each.
He then immediately gifted the shares to various friends for free, according to the company's latest filing with the London Stock Exchange. READ MORE: Click here to sign up to the BusinessLive North West newsletter THG has not named the recipients of the shares, how many there are or how many shares they have each been given.
Mr Moulding has a stake of about 22% in THG. The news comes after a $1.6bn deal that would have seen Japanese investment giant SoftBank take a near 20% stake in a major division of THG was abandoned yesterday.
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