Boohoo - EGM Result

boohoo group plc

21 January 2025

 

	21 January 2025

boohoo Group plc 

("boohoo" or the "Group")

RESULT OF GENERAL MEETING:

 SHAREHOLDERS OVERWHELMINGLY REJECT FRASERS' PROPOSAL

boohoo (AIM: BOO), a leading online fashion group, announces the results of the General Meeting held today, 21 January 2025. Shareholders have overwhelmingly voted AGAINST the resolution proposed by Frasers Group plc ("Frasers") that Mahmud Kamani, Founder and Group Executive Vice Chair, be removed as a director of the Company.

RESOLUTION	VOTES FOR	%	VOTES AGAINST	%	VOTES TOTAL	% of ISC	VOTES WITHELD
That Mahmud Kamani be removed from office as a director of the Company.	409,943,574	36.83%	703,010,216	63.17%	1,112,953,790	79.67%	367,507

With the clear support of shareholders, the Board calls on Frasers to end its attempts to destabilise and disrupt the Group. These continued distractions are not in the best interests of creating value for all Shareholders. 

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

"I would like to thank our shareholders for their overwhelming support, which provides the Board with a clear mandate to continue with the work of creating maximum value for all shareholders.

"Today's outcome follows the rejection in December of the previous Frasers attempt to destabilise boohoo. On both occasions 99% of investors who are not connected to Frasers backed the Board's position."

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

"Once again, our shareholders have spoken. We want to put this disruption and distraction behind us. Our focus is on maximising value for all shareholders."

Notes

1.    The full text of the resolution is set out in the Notice of Meeting dated 11 December 2024 which is available at www.boohooplc.com.

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

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

4.    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".

5.    The number of shares in issue on 20 December 2024 was 1,396,940,715 with no shares in treasury.

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

Enquiries
boohoo Group plc
Stephen Morana, Chief Financial Officer		Tel: [phone]
Victoria Huxster, Investor Relations		Tel: [phone]
Zeus Capital - Joint Financial Advisor, Nominated Advisor and Joint Broker
Nick Cowles / Dan Bate / James Edis		Tel: [phone]
Benjamin Robertson		Tel: [phone]
HSBC - Joint Financial Advisor and Joint Broker
Anthony Parsons / Alex Thomas / Chloe Ponsonby / James Hopton		Tel: [phone]
Headland - PR agency
Susanna Voyle / Will Smith		Tel: [phone]

About boohoo Group plc

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.

 

END