BOO.L

boohoo group plc
boohoo group plc - Result of General Meeting
20th December 2024, 12:14
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RNS Number : 9736Q
boohoo group plc
20 December 2024
 

For Immediate Release

20 December 2024

 

 

 

boohoo Group plc

 

("boohoo" or the "Group")

 

RESULT OF GENERAL MEETING

 

SHAREHOLDERS REJECT FRASERS' PROPOSALS

 

boohoo (AIM: BOO), a leading online fashion group, announces the results of the General Meeting held today, 20 December 2024 in relation to the appointment of Mike Ashley and Mike Lennon as directors of boohoo.

Shareholders have overwhelmingly voted AGAINST both resolutions proposed by Frasers Group plc ("Frasers").

 

VOTES
FOR

%

VOTES
AGAINST

%

VOTES
TOTAL

% of ISC

VOTES WITHELD

1. That Michael Ashley be appointed as a director of the Company.

410,483,490

36.23%

722,444,725

63.77%

1,132,928,215

81.10%

305,981

2. That Michael Lennon be appointed as a director of the Company.

410,458,467

36.24%

722,268,786

63.76%

1,132,727,253

81.09%

506,943

 

For reference, Frasers Group owns 399,773,352 ordinary shares in boohoo.

 

Notes

1.     Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "AGAINST" total for the appropriate resolution.

2.     Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

3.     A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

4.     The number of shares in issue on 20 December 2024 was 1,396,912,394 with no shares in treasury.

 

 

 

Tim Morris, Independent Non-Executive Chair of boohoo Group, said:

 

"I would like to thank our shareholders for their support of the Board. We remain focused on delivery of our Business Review with the objection of unlocking and maximising value for all shareholders.

 

Dan Finley, Chief Executive Officer of boohoo Group, said:

 

"Our Group is a dynamic business, with great brands and extremely talented people, underpinned by best-in-class infrastructure. Since my appointment, I have hit the ground running, taking immediate and decisive actions to maximise and unlock value for all shareholders.

"I am super energised to realise the significant opportunities I see for this business. I continue to believe this group is materially undervalued. Our most important work is ahead of us, and we will drive value for all shareholders."

The full text of the resolutions is set out in the Notice of Meeting dated 13 November 2024 which is available at www.boohooplc.com.

 

 

Enquiries



boohoo Group plc



Stephen Morana, Chief Financial Officer

Tel: +44 (0)161 233 2050

Victoria Huxster, Investor Relations

Tel: +44 (0)161 233 2050

Zeus Capital - Joint Financial Advisor, Nominated Advisor and Joint Broker 

Nick Cowles / Dan Bate / James Edis

Tel: +44 (0)161 831 1512

Benjamin Robertson

Tel: +44 (0)20 3829 5000

HSBC - Joint Financial Advisor and Joint Broker 


Anthony Parsons / Alex Thomas / Chloe Ponsonby / James Hopton 

Tel: +44 (0)20 7991 8888 

Headland - PR agency


Susanna Voyle / Will Smith

Tel: +44 (0)20 3725 7514





 

About boohoo Group plc

"Leading the fashion eCommerce market"

Founded in Manchester in 2006, boohoo Group is a fashion forward, inclusive and innovative business. The Group's brands are complementary, vibrant and scalable, delivering inspirational, on-trend fashion to our customers 24/7. The diversity of our brands, including the group's 5 core brands, boohoo, boohooMAN, PrettyLittleThing, Karen Millen and Debenhams, enable us to serve a broad customer base, globally, with a primary focus on the UK and US markets. Since its acquisition in 2021, Debenhams has been transformed from a retailer into a digital marketplace with a capital-light, low-risk operating model and a focus on fashion, beauty as well as home. Boohoo Group is concentrated on driving sustainable, profitable growth with technology and automation increasing efficiency across the business.

 

 

 

 

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