Boohoo - EGM Result
Shareholders reject Frasers' proposal to remove Mahmud Kamani as director with 63.17% voting against.
- Votes against removal 703,010,216 (63.17%)
- Votes for removal 409,943,574 (36.83%)
- Total votes cast 1,112,953,790 (79.67% of issued share capital)
- Frasers Group shareholding 399,773,352 shares
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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
- 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.
- Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "AGAINST" total for the appropriate resolution.
- The number of shares in issue on 20 December 2024 was 1,396,940,715 with no shares in treasury.
- For reference, Frasers Group owns 399,773,352 ordinary shares in boohoo Group.
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