TIDMBOO
RNS Number : 6467D
boohoo group plc
22 June 2023
For Immediate Release 22 June 2023
boohoo group plc
("boohoo" or the "Group")
Result of Annual General Meeting and Update on Trading
boohoo (AIM: BOO), a leading online fashion group, announces
that all resolutions were passed on a poll at the Group's Annual
General Meeting ("AGM") held today, 22 June 2023. The Group also
provides the below trading update following its AGM earlier
today.
AGM Result
RESOLUTION VOTES % VOTES % VOTES VOTES
FOR AGAINST TOTAL WITHELD
Report and
1 accounts 789,430,645 99.90% 795,442 0.10% 790,226,087 721,429
---------------------- ------------ ------- ------------ ------- ------------ ---------
Remuneration
2 report 533,822,735 67.52% 256,805,264 32.48% 790,627,999 319,517
---------------------- ------------ ------- ------------ ------- ------------ ---------
Re-elect Shaun
3 McCabe 789,239,330 99.82% 1,407,843 0.18% 790,647,173 300,343
---------------------- ------------ ------- ------------ ------- ------------ ---------
Re-elect Tim
4 Morris 745,618,754 94.30% 45,028,067 5.70% 790,646,821 300,695
---------------------- ------------ ------- ------------ ------- ------------ ---------
Re-elect John
5 Lyttle 789,308,432 99.83% 1,365,366 0.17% 790,673,798 273,718
---------------------- ------------ ------- ------------ ------- ------------ ---------
Re-appoint
6 Alistair McGeorge 789,446,661 99.85% 1,197,946 0.15% 790,644,607 302,909
---------------------- ------------ ------- ------------ ------- ------------ ---------
Re-appoint
7 John Goold 785,918,909 99.40% 4,726,012 0.60% 790,644,921 302,595
---------------------- ------------ ------- ------------ ------- ------------ ---------
Re-appoint
8 auditors 790,311,369 99.95% 386,530 0.05% 790,697,899 249,617
---------------------- ------------ ------- ------------ ------- ------------ ---------
9 Auditor's remuneration 790,275,108 99.94% 442,574 0.06% 790,717,682 229,834
---------------------- ------------ ------- ------------ ------- ------------ ---------
10 Political donations 784,023,036 99.15% 6,699,785 0.85% 790,722,821 224,695
---------------------- ------------ ------- ------------ ------- ------------ ---------
Disapplication
of pre-emption
11* rights - general 786,550,345 99.48% 4,114,938 0.52% 790,665,283 282,233
---------------------- ------------ ------- ------------ ------- ------------ ---------
Disapplication
of pre-emption
12* rights - financing 745,392,218 94.27% 45,278,135 5.73% 790,670,353 277,163
---------------------- ------------ ------- ------------ ------- ------------ ---------
Purchase of
13* own shares 788,272,330 99.69% 2,488,910 0.31% 790,761,240 186,276
---------------------- ------------ ------- ------------ ------- ------------ ---------
*Special Resolution
Notes
1. Proxy appointments which gave discretion to the Chairman of
the AGM have been included in the "For" 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 22 June 2023 was 1,268,444,763 with no shares in treasury.
The Board notes that while Resolution 2 was approved, which gave
shareholders the opportunity to cast an advisory vote on the
Directors Remuneration Report for the year ended 28 February 2023,
32.48% of the votes cast were votes against Resolution 2.
Over the coming months, the Board will reflect on the result of
Resolution 2, and the Remuneration Committee looks forward to
ongoing engagement with the Group's shareholders as it continues to
shape the Group's future remuneration policy.
The full text of the resolutions is set out in the Notice of
Meeting dated 19 May 2023 which is available at www.boohooplc.com
.
Update on Trading
The Group's execution of its Back to growth strategy continues
apace and guidance remains unchanged from that issued previously in
May, with an expectation to return to profitable growth in the
second half of the financial year as a result of the anticipated
benefits from investments being made across price, product and
proposition. This is expected to improve Adjusted EBITDA year on
year and the Group continues to focus on maintaining its strong
balance sheet.
Enquiries
boohoo group plc
Shaun McCabe, Chief Financial Officer Tel: +44 (0)161 233 2050
Alistair Davies, Investor Relations Tel: +44 (0)161 233 2050
Clara Melia, Investor Relations Tel: +44 (0)20 3289 5520
Mark Mochalski, Investor Relations Tel: +44 (0)20 3239 6289
Zeus - Nominated adviser and joint
broker
Dan Bate / James Edis Tel: +44 (0)161 831 1512
Benjamin Robertson Tel: +44 (0)20 3829 5000
Jefferies - Joint broker
Ed Matthews Tel: +44 (0)20 7029 8000
Harry Le May Tel: +44 (0)20 7029 8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth / Toto Berger / Verity Tel: +44 (0)20 7466 5000
Parker
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and
innovative global brand targeting young, value-orientated
customers, pushing boundaries to bring its customers up-to-date and
inspirational fashion, 24/7.
In 2017, the group extended its customer offering through the
acquisitions of the vibrant fashion brand PrettyLittleThing and
free-thinking brand Nasty Gal. In March 2019, the group acquired
the MissPap brand, in August 2019 the Karen Millen and Coast brands
and in June 2020 the Warehouse and Oasis brands, all complementary
to the group's scalable, multi-brand platform. In January 2021, the
group acquired the intellectual property assets of Debenhams, with
the goal of transforming a leading UK fashion and beauty retailer
into a digital department store and marketplace through a new
capital-light and low-risk operating model. In February 2021, the
group acquired the intellectual property assets of UK brands
Dorothy Perkins, Wallis and Burton. As at 28 February 2023, the
boohoo group had 18 million active customers across all its brands
around the world.
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END
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