Strategic investment in Hugo Boss AG

RNS Number : 7883D

Frasers Group PLC

24 October 2022

 

Date: 24 October 2022

FRASERS GROUP PLC ("Frasers Group" or "the Company")

STRATEGIC INVESTMENT IN HUGO BOSS AG ("Hugo Boss")

Frasers Group is pleased to announce that it has recently increased its investment in Hugo Boss, and now has the following interests in the common stock:

· 3,025,000 shares of common stock, representing 4.3% of Hugo Boss's total share capital

· 20,089,000 shares of common stock via the sale of put options, representing 28.5% of Hugo Boss's total share capital

After taking into account the premium it will receive under the put options, Frasers Group's maximum aggregate exposure in connection with its acquired interests in Hugo Boss, with the common stock holding valued at the closing share price on 21 October 2022, is approximately 960m (c. 840m).

Frasers Group has a long history (over twenty years) of making strategic investments to develop relationships and partnerships with other retailers, suppliers and brands, including by way of acquisitions of shares, options, contracts for difference and other financial instruments.

The strategic investments Frasers Group makes offer new opportunities for The Company, whilst also helping to support the long-term future of the existing retail businesses, and the many thousands of jobs they sustain.

Frasers Group continues to see opportunities that strengthen Frasers Group's brand proposition and the recent acquisitions of Studio Retail Limited (with its significant knowledge and experience in consumer credit) and Missguided (with its focus on Womenswear and its digital platforms) are examples of its drive to expand and acquire businesses and brands that can strengthen Frasers Group, and the connection to our consumers.

Frasers Group has extensive ambitions to grow the business inside and outside of the UK and is constantly exploring the potential for further expansion.

Accordingly, Frasers Group's board of directors believe that the acquisition of direct and / or indirect strategic stakes within Hugo Boss, are in the ordinary course of business of the Company.

Ends

Frasers Group plc

Robert Palmer, Company Secretary  T. 0344 245 9200

  E. [e-mail]

LEI:213800JEGHHEAXIJDX34

Chris Wootton, Chief Financial   T. 0344 245 9200

Officer  E. [e-mail]

Ronnie Laffar, Head of PR &   T. 07585 886189

Communications   E. [e-mail]

Rosie Oddy, Brunswick Group,  T. 07734 861279

PR Advisors  E. [e-mail]

Numis  T. 020 7260 1000

Luke Bordewich

Stuart Ord

Ollie Steele

Liberum  T. 020 3100 2000

John Fishley

Kane Collins

Nikhil Varghese

 

END

 

 

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