HK-listed Esprit soars to 16-month high on hopes of directors shuffle

Esprit Holdings

10/07/2020 04:02

** Shares of apparel retailer Esprit Holdings Ltd  0330.HK 
soar 106.8% to HK$1.82, their highest since March 2019 
    ** Stock later trims gain to HK$1.53, still up 73.9%,
heading for best session since listing in Dec 1993 
    ** Stock biggest percentage gainer on Hong Kong bourse 
    ** Co says its second-largest shareholder, North Point
Talent Ltd, requests shareholders meeting to appoint three
executive directors with immediate effect, while removing two
existing directors  urn:newsml:reuters.com:*:nFWN2EG171
    ** Statement comes after disclosure that Karen Lo,
controlling shareholder of North Point Talent, bought 150 mln
Esprit shares in the open market at HK$0.8029 each on July 3,
raising her stake to 12.89% from 4.93% (https://bit.ly/31YMfJD)
    ** Shares of co, which is undergoing restructuring and has
shut stores and trimmed staff, have fallen 44% this year, by
last close
    ** Esprit has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 7.5 percentage points in the past month
    ** The Hong Kong benchmark index  .HSI  falls 0.6%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)