boohoo Group
plc
("boohoo" or the "Group")
RESULT OF GENERAL
MEETING:
SHAREHOLDERS OVERWHELMINGLY REJECT FRASERS'
PROPOSAL
boohoo (AIM: BOO), a leading online
fashion group, announces the results of the General Meeting held
today, 21 January 2025. Shareholders have overwhelmingly
voted AGAINST the
resolution proposed by Frasers Group plc ("Frasers") that Mahmud Kamani, Founder
and Group Executive Vice Chair, be removed as a director of the
Company.
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RESOLUTION
|
VOTES
FOR
|
%
|
VOTES
AGAINST
|
%
|
VOTES
TOTAL
|
% of
ISC
|
VOTES WITHELD
|
|
That Mahmud Kamani be removed from
office as a director of the Company.
|
409,943,574
|
36.83%
|
703,010,216
|
63.17%
|
1,112,953,790
|
79.67%
|
367,507
|
With the clear support of shareholders, the
Board calls on Frasers to end its attempts to destabilise and
disrupt the Group. These continued distractions are not in the best
interests of creating value for all Shareholders.
Tim
Morris, Independent Non-Executive Chair of boohoo Group,
said:
"I would like to thank our shareholders for
their overwhelming support, which provides the Board with a clear
mandate to continue with the work of creating maximum value for all
shareholders.
"Today's outcome follows the rejection in
December of the previous Frasers attempt to destabilise boohoo. On
both occasions 99% of investors who are not connected to Frasers
backed the Board's position."
Dan
Finley, Chief Executive Officer of boohoo Group,
said:
"Once again, our shareholders have spoken. We
want to put this disruption and distraction behind us. Our focus is
on maximising value for all shareholders."
Notes
1. The full text of the
resolution is set out in the Notice of Meeting dated 11 December
2024 which is available at www.boohooplc.com.
2. Proxy appointments which
gave discretion to the Chairman of the AGM have been included in
the "AGAINST" total for the appropriate resolution.
3. Votes "For" and "Against"
any resolution are expressed as a percentage of votes validly cast
for that resolution.
4. A "Vote withheld" is not a
vote in law and is not counted in the calculation of the percentage
of shares voted "For" or "Against".
5. The number of shares in
issue on 20 December 2024 was 1,396,940,715 with no
shares in treasury.
6. For reference, Frasers
Group owns 399,773,352 ordinary shares in boohoo Group.
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Enquiries
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boohoo Group
plc
|
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Stephen Morana, Chief Financial
Officer
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Tel: +44 (0)161 233 2050
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Victoria Huxster, Investor Relations
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Tel: +44 (0)161 233 2050
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Zeus Capital -
Joint Financial Advisor, Nominated Advisor and Joint
Broker
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Nick Cowles / Dan Bate / James Edis
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Tel: +44 (0)161 831 1512
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Benjamin Robertson
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Tel: +44 (0)20 3829 5000
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HSBC - Joint
Financial Advisor and Joint Broker
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Anthony Parsons / Alex Thomas / Chloe Ponsonby /
James Hopton
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Tel: +44 (0)20 7991 8888
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Headland - PR
agency
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Susanna Voyle / Will Smith
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Tel: +44 (0)20 3725 7514
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About boohoo
Group plc
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.
