THG is moving ahead with the demerger of its e-commerce services Ingenuity division and on Thursday laid out a timeline for the process.

Existing THG shareholders will be able to participate in the demerger by “electing to redesignate Ordinary Shares as B Shares, with such B Shares giving the holder the right to receive a preferential distribution in specie of Ingenuity Shares (with a demerger ratio of one Ingenuity Share for each B Share held)”. 

Important dates leading up to completion of the demerger include 18 December as the ex-date for receipt of B Shares, and 19 December as the record date.

A general meeting relating to the move will take place in London on 27 December and assuming shareholders have voted in favour, the demerger will be effective on 2 January next year.

The news comes after THG founder Matthew Moulding sold the business park he owns next to Manchester Airport for £180 million after confidence levels in the global property market began to return. But it “will continue to be home to THG for many years to come”.