Brief: Superdry Launches Restructuring Plan, announces Equity Raise & Delisting

Superdry

16/04/2024 07:52

April 16 (Reuters) - Superdry PLC  SDRY.L :
    * PROPOSED RESTRUCTURING PLAN, EQUITY RAISE AND DELISTING
    * C-RETAIL LIMITED IS LAUNCHING A RESTRUCTURING PLAN
    * ANNOUNCING EQUITY RAISE THAT WILL PROVIDE NECESSARY
LIQUIDITY
HEADROOM ( "EQUITY RAISE"), AS WELL AS ITS INTENTION TO DELIST
FROM LSE
    * EQUITY RAISE IS FULLY SUPPORTED AND UNDERWRITTEN BY JULIAN
DUNKERTON, SUPERDRY'S CEO AND CO-FOUNDER
    * RESTRUCTURING PLAN, EQUITY RAISE AND DELISTING CONSTITUTE
KEY
MEASURES NEEDED TO ALLOW SUPERDRY TO RETURN TO A MORE STABLE
FOOTING
    * RESTRUCTURING PLAN, ONCE COMPLETED, IS EXPECTED TO RESULT
IN
RENT REDUCTIONS ON 39 UK SITES
    * RESTRUCTURING PLAN, EQUITY RAISE AND DELISTING CONSTITUTE
KEY
PACKAGE OF MEASURES NEEDED TO ALLOW  TO RETURN TO A MORE STABLE
FOOTING
    * RESTRUCTURING PLAN IS CONDITIONAL ON COMPANY RECEIVING
PROCEEDS
OF EQUITY RAISE
    * BANTRY BAY AND HILCO HAVE CONSENTED TO LAUNCHING OF
RESTRUCTURING PLAN AND REMAIN SUPPORTIVE OF COMPAN
    * LAUNCH OF RESTRUCTURING PLAN IS NOT EXPECTED TO AFFECT
ORDINARY
COURSE OPERATIONS
    * PROCESS TO IMPLEMENT RESTRUCTURING PLAN IS EXPECTED TO
COMPLETE
IN JUNE 2024
    * INTENDS TO MAKE RELEVANT APPLICATIONS TO EFFECT
CANCELLATION OF
LISTING OF ITS SHARES
    * INTENDS TO EXPLORE IMPLEMENTATION OF MATCHED BARGAIN
FACILITY
WITH THIRD PARTY MATCHED BARGAIN FACILITY PROVIDER IN EVENT CO
IS DELISTED

Source text for Eikon:  ID:nEQ6wcWrya 
Further company coverage:  SDRY.L 

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