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On 24 October 2024, boohoo group plc announced the receipt of requisition notices dated 23 October 2024 from HSBC Client Holdings Nominee (UK) Ltd. on behalf of Frasers Group plc, a holder of approximately 27% of boohoo's voting rights. These notices propose to appoint Mike Ashley and Mike Lennon as directors of boohoo group plc, remove John Lyttle as a director, and appoint Mike Ashley as Chief Executive Officer if appointed as a director.
| Date | 24 Oct 2024 |
| Time | 07:00:08 |
| Category | Miscellaneous |
| ID | 4453J |
The information contained within this announcement is deemed by the company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended) ("UK MAR"). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
24 October 2024
boohoo group plc
("boohoo" or the "Company")
Receipt of Requisition Notices
boohoo Group plc (AIM: BOO), a leading online fashion group, confirms that it has received letters and accompanying notices dated 23 October 2024 from HSBC Client Holdings Nominee (UK) Ltd. on behalf of Frasers Group plc ("Frasers"), seeking, as a holder of approximately 27% of the voting rights of the Company, to requisition an extraordinary general meeting of the Company pursuant to Article 89 of Companies (Jersey) Law 1991 (the "Requisitions").
The Requisitions propose to appoint Mike Ashley and Mike Lennon as directors of the Company and to remove John Lyttle as a director of the Company. They also propose to appoint Mike Ashley as Chief Executive Officer, should he be appointed as a director.
The boohoo Board is in the process of reviewing the content and validity of the Requisitions with its advisers. A further announcement will be made in due course.
In the meantime, shareholders are urged to take no action.
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Enquiries |
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boohoo group plc |
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Stephen Morana, Chief Financial Officer |
Tel: +44 (0)161 233 2050 |
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Mike Cooper, Head of Investor Relations |
Tel: +44 (0)161 233 2050 |
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Zeus - Joint Financial Adviser, Nominated adviser and Joint Broker |
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Nick Cowles / Dan Bate / James Edis |
Tel: +44 (0)161 831 1512 |
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Benjamin Robertson |
Tel: +44 (0)20 3829 5000 |
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HSBC - Joint Financial Adviser and Joint Broker |
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Anthony Parsons / Alex Thomas / Chloe Ponsonby / James Hopton |
Tel: +44 (0)20 7991 8888 |
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Headland - Financial PR Adviser |
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Susanna Voyle / Will Smith |
Tel: +44 (0)20 3725 7514 |
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo group is a fashion forward, inclusive and innovative business. The Group's brands are complementary, vibrant and scalable, delivering inspirational, on-trend fashion to our customers 24/7. The diversity of our brands, including the group's 5 core brands, boohoo, boohooMAN, PrettyLittleThing, Karen Millen and Debenhams, enable us to serve a broad customer base, globally, with a primary focus on the UK and US markets. Since its acquisition in 2021, Debenhams has been transformed from a retailer into a digital marketplace with a capital-light, low-risk operating model and a focus on fashion, beauty as well as home. Boohoo group is concentrated on driving sustainable, profitable growth with technology and automation increasing efficiency across the business..