REG - boohoo group plc - Clarification Relating to Acquisition

BoohooAnnouncement

28/05/2020 17:45

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.
 
 
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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 Broking)


Tel: +44 (0)20 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 Berger


Tel: +44 (0)20 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.
 


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