boohoo group plc Result of Annual General Meeting (0880D)
21 Junio 2019 - 09:50AM
UK Regulatory
TIDMBOO
RNS Number : 0880D
boohoo group plc
21 June 2019
For Immediate Release 21 June 2019
boohoo group plc
("boohoo" or the "Company")
Result of Annual General Meeting ("AGM")
boohoo group plc, a leading online fashion group, announces that
all resolutions were passed on a poll at the Company's Annual
General Meeting held on 21 June 2019.
Resolution 13 sought authorisation to buy back up to 10% of
issued share capital as at 17 May 2019 (being the latest
practicable date prior to the publication of the AGM notice). This
was conditional on independent shareholders approving a whitewash
resolution (Resolution 14), on a poll, pursuant to Rule 9 of the
City Code on Takeovers and Mergers. The Company confirms that
Resolution 14 was passed on a poll with the results being as
follows: 394,940,304 (67.51%) votes for, 190,034,428 (32.49%) votes
against and 353,139,757 votes withheld.
Following the passing of Resolution 13, the Concert Party (as
defined in the AGM notice) holds in aggregate, 338,330,649 Ordinary
Shares, representing 33.396% of the issued share capital of the
Company. If the Board were to exercise the authority pursuant to
Resolution 13, in whole or in part, and cancel the Ordinary Shares
acquired or put those into treasury, then the shareholding of the
Concert Party and The TMZ Trust would proportionately increase, up
to a possible maximum of 37.1% of the issued share capital of the
Company.
The Board announces that it currently has no intention of using
the authority to purchase Ordinary Shares under Resolution 13
before the next AGM of the Company.
As was announced in the AGM notice, the Board would only
exercise such authority if it considered that the effect of such
purchase would be to increase earnings and/or net assets per
Ordinary Share and that such exercise would be in the best
interests of Shareholders generally. In addition, the Board would
only exercise the authority if it was satisfied that the Company
had at the time such purchase is contemplated, sufficient cash
resources for current working capital purposes and distributable
reserves and there would be no requirements for financing from
third parties for this purpose.
The full text of the resolutions is set out in the Notice of
Meeting dated 21 May 2019 which is available at
www.boohooplc.com.
Enquiries
boohoo group plc
Neil Catto, Chief Financial Officer Tel: +44 (0)161 233 2050
Alistair Davies, Investor Relations Tel: +44 (0)161 233 2050
Clara Melia, Investor Relations Tel: +44 (0)20 3289 5520
Zeus Capital - Nominated adviser and
joint broker
Nick Cowles/Andrew Jones (Corporate Tel: +44 (0)161 831 1512
Finance)
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20 3829 5000
Broking)
Jefferies Hoare Govett - Joint broker
Max Jones/Philip Noblet Tel: +44 (0)20 7029 8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth/Sophie Wills/Maddie Tel: +44 (0)20 7466 5000
Seacombe
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and
innovative brand targeting young, value-orientated customers. For
13 years, boohoo has been pushing boundaries to bring its customers
up-to-date and inspirational fashion, 24/7. boohoo has grown
rapidly in the UK and internationally, expanding its offering with
range extensions into menswear, through boohooMAN.
In early 2017 the group extended its customer offering through
the acquisitions of the vibrant fashion brand PrettyLittleThing,
and free-thinking brand Nasty Gal and in March 2019 acquired the
Miss Pap brand. United by a shared customer value proposition, our
brands design, source, market and sell great quality clothes, shoes
and accessories at unbeatable prices. This investment proposition
has helped us grow from a single brand, into a major multi-brand
online retailer, leading the fashion eCommerce market for 16 to
30-year-olds around the world. As at 28(th) February 2019, the
boohoo group had around 13 million active customer accounts across
all its brands around the world.
This information is provided by RNS, the news service of the
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END
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