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LONDON - Frasers Group plc will hold its Annual General Meeting (AGM) on Wednesday, September 24, 2025, at its Shirebrook headquarters, according to a statement released Friday.
The British retail conglomerate reported a statutory profit before tax of £379.4 million for fiscal year 2025, down from the restated £501.0 million in the previous year. Adjusted profit before tax rose to £560.2 million from a restated £544.8 million.
Among key proposals for shareholder approval at the upcoming AGM, Frasers is seeking authority to make off-market purchases of its shares from MASH Holdings Limited and MASH Beta Ltd, companies ultimately owned by controlling shareholder Mike Ashley.
The proposed Directed Buyback Contract would allow Frasers to reduce Ashley’s holding in the company through standalone purchases, institutional placings, or broker-managed trading programs. The maximum number of shares that could be purchased under this arrangement is approximately 67.5 million, representing 14.99% of Frasers’ issued ordinary share capital.
The company stated that directors would only exercise the power to conduct off-market purchases if they determine it is "in the best interests of the Company and its shareholders as a whole."
Jefferies International Limited, acting as Frasers’ sponsor, has advised that the terms of the proposed Directed Buyback Contract are "fair and reasonable" for shareholders.
Additionally, Frasers is seeking approval for a Put Option Agreement with Jefferies that would allow for contingent off-market share purchases.
The company has made the AGM notice, annual report, and proxy forms available electronically to shareholders and published them on its website.
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