FOR IMMEDIATE
RELEASE
14 January 2025
boohoo group
plc
("boohoo"
or "the Company")
Glass Lewis
recommends
shareholders vote "AGAINST" the Resolution
boohoo Group plc (AIM:BOO) notes the
publication of the voting recommendation from Glass Lewis the
independent proxy adviser, in relation to the Company's forthcoming
General Meeting.
Glass Lewis has recommended that boohoo shareholders vote
"AGAINST" the Resolution at the General Meeting on 21 January 2025,
which seeks to remove Mahmud Kamani as a
director.
Glass Lewis recognise that the
Company "has
initiated significant actions" in recent
months, including undertaking the Business Review, strengthening
its balance sheet, and introducing leadership changes, including
appointing a new CEO and Independent Chair, while transitioning
Mahmud Kamani from Executive Chair to Executive Vice
Chair.
Glass Lewis conclude that these changes
"should
enable the Company to retain Mr Kamani's institutional knowledge
and expertise while empowering new leadership to undertake
initiatives that will likely be needed to improve the Company's
performance".
This
recommendation is in line with the unanimous recommendation of the
Company's Independent Committee and the independent proxy
adviser Institutional Shareholder Services
Inc. ("ISS").
General Meeting and How to
Vote
The General Meeting to vote on the
Resolutions will be held at the offices of Addleshaw Goddard LLP at
One St Peter's Square, Manchester M2 3DE on 21 January
2025, at 10.00 a.m.
The notice convening the General
Meeting can be found here: Notice
of General Meeting, and includes
details of how to vote at the General Meeting, some shareholder
Q&A, the Notice of General Meeting itself and additional
information in respect of the Notice of General Meeting including
in relation to the appointment of proxies.
Capitalised terms in this announcement, unless otherwise
defined herein, have the same meanings as set out in the Circular
posted to Shareholders on 11 December 2024.
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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.
