UK's Frasers rises as founder Mike Ashley fails to secure Boohoo board seat

Xxl AS

20/12/2024 13:57

** Shares of Frasers  FRAS.L  up 2.6% at 625.5p; company top
gainer on FTSE 100 index  .FTSE  
    ** Frasers founder Mike Ashley failed to secure a board seat
at Boohoo  BOOH.L  after shareholders in the struggling online
fast-fashion group voted against the move
    ** "There may be hopes that the rejection will mean that a
line will now be drawn under boardroom battles at Frasers Group
and the company can move onto focuses in revitalising sales
across its other operations," Susannah Streeter, head of money
and markets at Hargreaves Lansdown, said
    ** Boohoo said 64% of votes cast at its investor meeting
opposed the election of Ashley to the board
    ** Boohoo shares are up 0.8% at 33p
    ** FRAS down ~32% YTD, while BOOH down ~20% YTD


 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com;))