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For Immediate Release
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20
December 2024
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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").
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VOTES
FOR
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%
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VOTES
AGAINST
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%
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VOTES
TOTAL
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% of
ISC
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VOTES
WITHELD
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1. That Michael Ashley be appointed as a
director of the Company.
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410,483,490
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36.23%
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722,444,725
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63.77%
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1,132,928,215
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81.10%
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305,981
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2. That Michael Lennon be appointed as a
director of the Company.
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410,458,467
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36.24%
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722,268,786
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63.76%
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1,132,727,253
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81.09%
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506,943
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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.
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Enquiries
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boohoo Group plc
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Stephen Morana, Chief Financial
Officer
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Tel: +44 (0)161 233 2050
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Victoria Huxster, Investor
Relations
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Tel: +44 (0)161 233 2050
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Zeus Capital - Joint Financial Advisor, Nominated Advisor and
Joint Broker
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Nick Cowles / Dan Bate / James
Edis
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Tel: +44 (0)161 831 1512
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Benjamin Robertson
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Tel: +44 (0)20 3829 5000
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HSBC - Joint Financial Advisor and Joint
Broker
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Anthony Parsons / Alex Thomas /
Chloe Ponsonby / James Hopton
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Tel: +44 (0)20 7991
8888
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Headland - PR agency
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Susanna Voyle / Will
Smith
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Tel: +44 (0)20 3725 7514
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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.