REG - boohoo group plc - Result of AGM and Update on Trading

BoohooAnnouncement

22/06/2023 17:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230622:nRSV6467Da&default-theme=true

RNS Number : 6467D  boohoo group plc  22 June 2023

 For Immediate Release  22 June 2023

 boohoo group plc

 

("boohoo" or the "Group")

 

Result of Annual General Meeting and Update on Trading

 

boohoo (AIM: BOO), a leading online fashion group, announces that all
resolutions were passed on a poll at the Group's Annual General Meeting
("AGM") held today, 22 June 2023. The Group also provides the below trading
update following its AGM earlier today.

 

AGM Result

 

 

      RESOLUTION                                        VOTES        %       VOTES        %       VOTES        VOTES WITHELD

FOR
AGAINST
TOTAL
 1    Report and accounts                               789,430,645  99.90%  795,442      0.10%   790,226,087  721,429
 2    Remuneration report                               533,822,735  67.52%  256,805,264  32.48%  790,627,999  319,517
 3    Re-elect Shaun McCabe                             789,239,330  99.82%  1,407,843    0.18%   790,647,173  300,343
 4    Re-elect Tim Morris                               745,618,754  94.30%  45,028,067   5.70%   790,646,821  300,695
 5    Re-elect John Lyttle                              789,308,432  99.83%  1,365,366    0.17%   790,673,798  273,718
 6    Re-appoint Alistair McGeorge                      789,446,661  99.85%  1,197,946    0.15%   790,644,607  302,909
 7    Re-appoint John Goold                             785,918,909  99.40%  4,726,012    0.60%   790,644,921  302,595
 8    Re-appoint auditors                               790,311,369  99.95%  386,530      0.05%   790,697,899  249,617
 9    Auditor's remuneration                            790,275,108  99.94%  442,574      0.06%   790,717,682  229,834
 10   Political donations                               784,023,036  99.15%  6,699,785    0.85%   790,722,821  224,695
 11*  Disapplication of pre-emption rights - general    786,550,345  99.48%  4,114,938    0.52%   790,665,283  282,233
 12*  Disapplication of pre-emption rights - financing  745,392,218  94.27%  45,278,135   5.73%   790,670,353  277,163
 13*  Purchase of own shares                            788,272,330  99.69%  2,488,910    0.31%   790,761,240  186,276

*Special Resolution

 

Notes

1.     Proxy appointments which gave discretion to the Chairman of the AGM
have been included in the "For" total for the appropriate resolution.

2.     Votes "For" and "Against" any resolution are expressed as a
percentage of votes validly cast for that resolution.

3.     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".

4.     The number of shares in issue on 22 June 2023 was 1,268,444,763
with no shares in treasury.

 

The Board notes that while Resolution 2 was approved, which gave shareholders
the opportunity to cast an advisory vote on the Directors Remuneration Report
for the year ended 28 February 2023, 32.48% of the votes cast were votes
against Resolution 2.

 

Over the coming months, the Board will reflect on the result of Resolution 2,
and the Remuneration Committee looks forward to ongoing engagement with the
Group's shareholders as it continues to shape the Group's future remuneration
policy.

 

The full text of the resolutions is set out in the Notice of Meeting dated 19
May 2023 which is available at www.boohooplc.com (http://www.boohooplc.com/)
.

 

Update on Trading

 

The Group's execution of its Back to growth strategy continues apace and
guidance remains unchanged from that issued previously in May, with an
expectation to return to profitable growth in the second half of the financial
year as a result of the anticipated benefits from investments being made
across price, product and proposition. This is expected to improve Adjusted
EBITDA year on year and the Group continues to focus on maintaining its strong
balance sheet.

 Enquiries
 boohoo group plc
 Shaun McCabe, 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
 Mark Mochalski, Investor Relations              Tel: +44 (0)20 3239 6289

 Zeus - Nominated adviser and joint broker
 Dan Bate / James Edis                           Tel: +44 (0)161 831 1512
 Benjamin Robertson                              Tel: +44 (0)20 3829 5000

 Jefferies - Joint broker
 Ed Matthews                                     Tel: +44 (0)20 7029 8000
 Harry Le May                                    Tel: +44 (0)20 7029 8000

 Buchanan - Financial PR adviser                 boohoo@buchanan.uk.com
 Richard Oldworth / Toto Berger / Verity Parker  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 global
brand targeting young, value-orientated customers, pushing boundaries to bring
its customers up-to-date and inspirational fashion, 24/7.

In 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, in August 2019 the Karen
Millen and Coast brands and in June 2020 the Warehouse and Oasis brands, all
complementary to the group's scalable, multi-brand platform. In January 2021,
the group acquired the intellectual property assets of Debenhams, with the
goal of transforming a leading UK fashion and beauty retailer into a digital
department store and marketplace through a new capital-light and low-risk
operating model. In February 2021, the group acquired the intellectual
property assets of UK brands Dorothy Perkins, Wallis and Burton. As at 28
February 2023, the boohoo group had 18 million active customers across all its
brands around the world.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGUUSVROBUNUAR