boohoo group plc Clarification Relating to Acquisition (2838O)
28 Mayo 2020 - 11:44AM
UK Regulatory
TIDMBOO
RNS Number : 2838O
boohoo group plc
28 May 2020
For Immediate Release 28 May 2020
boohoo group plc
("boohoo" or "the Group")
Clarification Relating to Acquisition
boohoo (AIM: BOO), a leading online fashion group, notes that
further to the announcement (RNS No: 1928O) of the Group's
acquisition of the minority interest in PrettyLittleThing ("the
Transaction"), boohoo makes the following clarification to the
section of the announcement entitled "Transaction Process".
Umar Kamani and Paul Papworth are related parties as defined by
the AIM Rules for Companies ("the AIM Rules") and the Transaction
is therefore a related-party transaction for the purposes of Rule
13 of the AIM Rules.
The Independent Directors, being the Group's Executive Directors
(Neil Catto and John Lyttle) and Non-Executive Directors (Brian
Small, Iain McDonald and Pierre Cuilleret) consider, having
consulted with Zeus Capital, the Group's nominated adviser, that
the terms of the acquisition are fair and reasonable in so far as
Group's shareholders are concerned.
All other details, including the disclosures under Schedule 4 of
the AIM Rules, are included in the original notification.
-ends-
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 Finance) Tel: +44 (0)161
831 1512
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20
Broking) 3829 5000
Jefferies - Joint broker
Philip Noblet/Max Jones Tel: +44 (0)20
7029 8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth/ Kim Looringh-van Beeck/Toto Tel: +44 (0)20
Berger 7466 5000
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. Since
2006, 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. In March 2019 the group acquired
the MissPap brand and in August 2019, the Karen Millen and Coast
brands, all complementary to the group's scalable multi-brand
platform. United by a shared customer value proposition, our brands
design, source, market and sell great quality clothes, shoes and
accessories at unbeatable prices. These investment propositions
have helped us grow from a single brand, into a major multi-brand
online retailer, leading the fashion eCommerce market for 16 to
40-year-olds around the world. As at 29 February 2020, the boohoo
group had around 14 million active customers across all its brands
around the world.
This information is provided by RNS, the news service of the
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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