REG - Frasers Group PLC - Response to Press Coverage

FrasersAnnouncement

21/09/2023 16:30

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RNS Number : 2699N  Frasers Group PLC  21 September 2023

21 September 2023



FRASERS GROUP PLC

("Frasers Group" or the "Company")

Response to Press Coverage

Frasers is aware of the recent press coverage concerning Frasers' application
for judicial assistance seeking evidence from James Gorman in New York. We
have previously announced Frasers' participation as claimant in proceedings
against Morgan Stanley in the High Court in London to which the New York
application is connected.

The London proceedings relate to a disputed margin call made by Morgan Stanley
in May 2021 on Saxo Bank, in connection with certain put and call options in
Hugo Boss which were ultimately held by Frasers. Saxo sought to pass the
margin call through to Frasers.  Frasers successfully sought and obtained
injunctive relief in June 2021 preventing the banks taking any steps in
connection with the margin call. Frasers considers Morgan Stanley to have
acted unlawfully in making and maintaining the margin call and now seeks
damages for its losses from Morgan Stanley in the region of approximately
EUR50 million. There is no counterclaim against Frasers.

By the application in New York, Frasers now seeks testimonial and documentary
evidence from James Gorman.

 

Ends.

 

 Frasers Group plc

 Robert Palmer, Company Secretary            T. 0344 245 9200

 LEI: 213800JEGHHEAXIJDX34                   E. Company.Secretary@frasers.group (mailto:Company.Secretary@frasers.group)

 Chris Wootton, Chief Financial Officer      T. 0344 245 9200

                                             E. financial@frasers.group (mailto:financial@frasers.group)
 Rosie Oddy, Brunswick Group, PR Advisors    T. 020 7404 5959

                                             E. frasersgroup@brunswickgroup.com (mailto:frasersgroup@brunswickgroup.com)

 

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