Business
Further strategic investment in Hugo Boss AG
Further strategic investment in Hugo Boss AG.
About this update from Frasers Group Plc
[{"type":"text","content":"\n\n2 April 2025\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\nFRASERS GROUP PLC (\"Frasers Group\" or the \"Company\")\nFURTHER STRATEGIC INVESTMENT IN HUGO BOSS AG (\"Hugo Boss\")\nFrasers Group is pleased to announce that it has increased its investment in Hugo Boss (the \"HB Strategic Investment\") through the further sale of put options over Hugo Boss' shares (the \"HB Trades\"). Accordingly, Frasers Group holds the following interests in the common stock of Hugo Boss (\"Common Stock\"):\n· 13,548,661 shares of Common Stock, representing 19.2% of Hugo Boss' total share capital; and\n· up to 16,700,000 shares of Common Stock through the sale of put options, representing up to 23.7% of Hugo Boss' total share capital.\nAfter taking into account the premium received and strike prices under the put options, Frasers Group's maximum aggregate exposure in connection with its net acquired interests in Hugo Boss, at the closing share price on the date of this announcement, is approximately €1,020 million (approx. £850 million) for the interest in 30,248,661 shares in Hugo Boss that would result if the put options were exercised in full.\nDetails of the HB Strategic Investment\nFrasers Group makes strategic investments in the ordinary course of its business to develop relationships and partnerships with other retailers and to build relationships with key suppliers and brands. The Company remains a long-term investor in Hugo Boss and the board of directors of Frasers Group (the \"Board\") believes that the HB Strategic Investment will create value for the Company's shareholders, as its strategic investments in Hugo Boss have done in the past. Michael Murray, the Chief Executive of Frasers Group, has been nominated for election to the Supervisory Board of Hugo Boss in May 2025.\nThrough the HB Trades, the Company has acquired additional interests in Hugo Boss through the sale of put options which give the counterparty the right (but not the obligation) to sell Common Stock to the Company at an agreed price per share. The Company has received a premium in respect of any such put options sold.&...