Matthew Moulding’s U-turn is belated acceptance about pitfalls of denying proper voting rights
It’s good to know Matthew Moulding has retained his sense of humour amid current troubles. At least one assumes he was joking when he said his sudden desire to shed his “golden share” is somehow related to the first anniversary of the Hut Group’s listing on the London stock exchange. Come on, the U-turn would not be happening if Moulding did not need to repair relations with outside shareholders urgently.
The nonsense in his explanation was that THG originally argued that anti-takeover protections were designed for precisely today’s situation – a wobbly share price and nervous outside investors who might throw in the towel given the chance.