| For Immediate Release | 22 June 2023 |
|
|
|
boohoo group plc
("boohoo" or the "Group")
Result of Annual General Meeting and Update on Trading
boohoo (AIM: BOO), a leading online fashion group, announces that all resolutions were passed on a poll at the Group's Annual General Meeting ("AGM") held today, 22 June 2023. The Group also provides the below trading update following its AGM earlier today.
AGM Result
|
| RESOLUTION | VOTES | % | VOTES | % | VOTES | VOTES WITHELD |
| 1 | Report and accounts | 789,430,645 | 99.90% | 795,442 | 0.10% | 790,226,087 | 721,429 |
| 2 | Remuneration report | 533,822,735 | 67.52% | 256,805,264 | 32.48% | 790,627,999 | 319,517 |
| 3 | Re-elect Shaun McCabe | 789,239,330 | 99.82% | 1,407,843 | 0.18% | 790,647,173 | 300,343 |
| 4 | Re-elect Tim Morris | 745,618,754 | 94.30% | 45,028,067 | 5.70% | 790,646,821 | 300,695 |
| 5 | Re-elect John Lyttle | 789,308,432 | 99.83% | 1,365,366 | 0.17% | 790,673,798 | 273,718 |
| 6 | Re-appoint Alistair McGeorge | 789,446,661 | 99.85% | 1,197,946 | 0.15% | 790,644,607 | 302,909 |
| 7 | Re-appoint John Goold | 785,918,909 | 99.40% | 4,726,012 | 0.60% | 790,644,921 | 302,595 |
| 8 | Re-appoint auditors | 790,311,369 | 99.95% | 386,530 | 0.05% | 790,697,899 | 249,617 |
| 9 | Auditor's remuneration | 790,275,108 | 99.94% | 442,574 | 0.06% | 790,717,682 | 229,834 |
| 10 | Political donations | 784,023,036 | 99.15% | 6,699,785 | 0.85% | 790,722,821 | 224,695 |
| 11* | Disapplication of pre-emption rights - general | 786,550,345 | 99.48% | 4,114,938 | 0.52% | 790,665,283 | 282,233 |
| 12* | Disapplication of pre-emption rights - financing | 745,392,218 | 94.27% | 45,278,135 | 5.73% | 790,670,353 | 277,163 |
| 13* | Purchase of own shares | 788,272,330 | 99.69% | 2,488,910 | 0.31% | 790,761,240 | 186,276 |
*Special Resolution
Notes
1. Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.
2. Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.
3. A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".
4. The number of shares in issue on 22 June 2023 was 1,268,444,763 with no shares in treasury.
The Board notes that while Resolution 2 was approved, which gave shareholders the opportunity to cast an advisory vote on the Directors Remuneration Report for the year ended 28 February 2023, 32.48% of the votes cast were votes against Resolution 2.
Over the coming months, the Board will reflect on the result of Resolution 2, and the Remuneration Committee looks forward to ongoing engagement with the Group's shareholders as it continues to shape the Group's future remuneration policy.
The full text of the resolutions is set out in the Notice of Meeting dated 19 May 2023 which is available at www.boohooplc.com.
Update on Trading
The Group's execution of its Back to growth strategy continues apace and guidance remains unchanged from that issued previously in May, with an expectation to return to profitable growth in the second half of the financial year as a result of the anticipated benefits from investments being made across price, product and proposition. This is expected to improve Adjusted EBITDA year on year and the Group continues to focus on maintaining its strong balance sheet.
| Enquiries | |
| boohoo group plc | |
| Shaun McCabe, Chief Financial Officer | Tel: +44 (0)161 233 2050 |
| Alistair Davies, Investor Relations | Tel: +44 (0)161 233 2050 |
| Clara Melia, Investor Relations | Tel: +44 (0)20 3289 5520 |
| Mark Mochalski, Investor Relations | Tel: +44 (0)20 3239 6289 |
| | |
| | |
| Zeus - Nominated adviser and joint broker | |
| Dan Bate / James Edis | Tel: +44 (0)161 831 1512 |
| Benjamin Robertson | Tel: +44 (0)20 3829 5000 |
| | |
| | |
| Jefferies - Joint broker | |
| Ed Matthews | Tel: +44 (0)20 7029 8000 |
| Harry Le May | Tel: +44 (0)20 7029 8000 |
| | |
| | |
| Buchanan - Financial PR adviser | boohoo@buchanan.uk.com |
| Richard Oldworth / Toto Berger / Verity Parker | Tel: +44 (0)20 7466 5000 |
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and innovative global brand targeting young, value-orientated customers, pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7.
In 2017, the group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing and free-thinking brand Nasty Gal. In March 2019, the group acquired the MissPap brand, in August 2019 the Karen Millen and Coast brands and in June 2020 the Warehouse and Oasis brands, all complementary to the group's scalable, multi-brand platform. In January 2021, the group acquired the intellectual property assets of Debenhams, with the goal of transforming a leading UK fashion and beauty retailer into a digital department store and marketplace through a new capital-light and low-risk operating model. In February 2021, the group acquired the intellectual property assets of UK brands Dorothy Perkins, Wallis and Burton. As at 28 February 2023, the boohoo group had 18 million active customers across all its brands around the world.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.