LONDON - Frasers Group plc has publicly addressed the shareholders of boohoo group plc, urging them to vote in favor of appointing Mike Ashley and Mike Lennon as directors at a shareholder meeting set for December 20, 2024. Despite allegations of perceived conflicts and governance concerns by boohoo's board, Frasers has confirmed its commitment to adhere to all appropriate protocols to mitigate these issues.
In an open letter released today, Frasers Group, which is helmed by Mike Ashley and Mike Lennon, stated its belief that their appointments would serve the best interests of boohoo, its shareholders, and stakeholders. Frasers has called for a shareholder meeting to vote on the matter, seeking to overcome the reluctance of boohoo's board to appoint the two men to directorial positions.
Frasers Group has positioned this move as a response to the boohoo board's ongoing allegations regarding conflicts of interest and governance concerns, which Frasers claims are unfounded. The Group has expressed readiness to sign up to all appropriate protocols to address these concerns, as a measure to reassure boohoo shareholders.
The full text of the open letter to boohoo's shareholders has been made available for review, with Frasers' legal adviser, White & Case LLP, overseeing the legal aspects of the approach. Contact details for Frasers Group's investor relations and media contacts have been provided, though the announcement emphasizes that it is not intended as an investment recommendation or solicitation.
It is important to note that the announcement contains forward-looking statements based on Frasers' beliefs and assumptions, which involve risks and uncertainties. These statements are not guarantees of future performance and potential investors are advised to seek independent financial advice.
This news report is based on a press release statement from Frasers Group plc and does not constitute an endorsement or recommendation of the proposed directorial appointments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.