REG-Superdry plc Superdry plc: Response to announcement by Julian Dunkerton

SuperdryAnnouncement

28/03/2024 16:45

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   Superdry plc (SDRY)
   Superdry plc: Response to announcement by Julian Dunkerton

   28-March-2024 / 16:38 GMT/BST

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   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY
   OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
   CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
   JURISDICTION.

   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER ARTICLE
   7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 AS INCORPORATED
   INTO UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
   2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY
   INFORMATION SERVICE, THIS INSIDE INFORMATION WILL BE CONSIDERED TO BE IN
   THE PUBLIC DOMAIN.

   28 March 2024

                                  Superdry plc

                         (“Superdry” or the “Company”)

                  Response to announcement by Julian Dunkerton

   The Company notes today’s announcement from Julian Dunkerton that he does
   not intend to make an offer for Superdry and, as a result, confirms that
   the Company is no longer in an offer period.

   Following a period of engagement, the Transaction Committee and Julian
   Dunkerton have, together, concluded that a takeover offer from Julian
   Dunkerton for Superdry is unlikely to deliver an outcome for shareholders,
   or stakeholders more broadly, that the Transaction Committee and Julian
   Dunkerton are confident can be executed in the context of the Company’s
   ongoing work on its turnaround plan and material cost saving options.

   However, the Company remains in discussions with Julian Dunkerton in
   respect of alternative structures, including a possible equity raise fully
   underwritten by Julian Dunkerton, which would provide additional liquidity
   headroom for the Company’s turnaround plan. It is expected that any equity
   raise would be at a very material discount to the current share price,
   require shareholder approval of a Rule 9 waiver (as referred in Note 1 of
   the Notes on Dispensations from Rule 9 of the Code) and be conditional on
   a de-listing of the Company.

   A further announcement will be made as appropriate. There can be no
   certainty that a transaction with Julian Dunkerton will be agreed.

   The person responsible for releasing this announcement is Jennifer
   Richardson, General Counsel & Company Secretary.

   Enquiries

   Superdry

   Peter Sjӧlander, Chairman                     +44 (0) 1242 586747

    
   Peel Hunt LLP (Financial Adviser to Superdry)

   George Sellar

   Michael Nicholson
                                                 +44 (0) 2074 188900
   Andrew Clark

   Edward Lowe

    
   Brunswick Group LLP (Financial PR)
                                                 +44 (0) 207 4045959
   Tim Danaher

    

   This announcement is not intended to, and does not, constitute, represent
   or form part of any offer, invitation or solicitation of an offer to
   purchase, otherwise acquire, subscribe for, sell or otherwise dispose of
   any securities or the solicitation of any vote or approval in any
   jurisdiction whether pursuant to this announcement or otherwise.

   The distribution of this announcement in jurisdictions outside the UK may
   be restricted by law and therefore persons into whose possession this
   announcement comes should inform themselves about, and observe, such
   restrictions. Any failure to comply with the restrictions may constitute a
   violation of the securities law of any such jurisdiction.

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B60BD277
   Category Code:  OTT
   TIDM:           SDRY
   LEI Code:       213800GAQMT2WL7BW361
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   312687
   EQS News ID:    1870261


    
   End of Announcement EQS News Service

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