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Footasylum PLC (FOOT)

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Monday 18 February, 2019

Footasylum PLC

Acquisition of stake by JD Sports Fashion Plc

RNS Number : 3768Q
Footasylum PLC
18 February 2019
 

18 February 2019

Footasylum plc

 

("Footasylum" or the "Company")

 

Acquisition of stake by JD Sports Fashion Plc

 

Footasylum, a UK-based fashion retailer focusing on the branded footwear and apparel markets, notes today's announcement that JD Sports Fashion Plc has acquired 8.3% of the issued share capital in Footasylum for investment purposes, and that it is prepared to acquire up to an aggregate interest of 29.9% of the Company.

 

Footasylum continues to operate its business as usual and remains focused on delivering its differentiated, product-led, multi-channel proposition.

 

 

Contacts:

 

Footasylum plc

Nancy Kelsall (Company Secretary)

 

Tel: +44 (0) 1706 746 777

GCA Altium Limited (Financial Adviser & Nominated Adviser)

Phil Adams

Sam Fuller

Tim Richardson

 

Tel: +44 (0) 20 7484 4040

Liberum Capital Limited (Broker)

John Fishley

Andrew Godber

 

Tel: +44 (0) 20 3100 2222

Powerscourt (Financial Public Relations)

Rob Greening

Lisa Kavanagh

Isabelle Saber

 

Tel: +44 (0) 207 250 1446

Customer website: https://www.footasylum.com/

Investor website: http://investors.footasylum.com/

 

Notes to Editors:

 

Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets. The Company retails "on-trend" product ranges which are predominantly aimed at 16 to 24-year-old fashion-conscious consumers and are sourced from an extensive stable of third-party and own brands. These include well-known sports and casual footwear and apparel brands, as well as up-and-coming brands and own label products.

 

Examples of third-party brands include: adidas; Nike; The North Face; Gym King; Converse; New Balance; EA7; Vans; Nicce London; Under Armour; Tommy Hilfiger; and Calvin Klein. Examples of Footasylum's own brands include: Kings Will Dream and Alessandro Zavetti.

 

The Company operates a multi-channel model which combines a 70-strong store estate - in a variety of high street, mall and retail park locations in cities and towns throughout Great Britain - with a fast-growing online platform and a recently launched wholesale arm for distributing its own brand ranges via a network of partners.

 

Footasylum was founded in 2005 and the Company's ordinary shares were admitted to trading on AIM in November 2017. 


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