Superdry plc / GB00B60BD277
28.03.2024 - 17:38:11Superdry plc: Response to announcement by Julian Dunkerton
Superdry plc (SDRY) Superdry plc: Response to announcement by Julian Dunkerton 28-March-2024 / 16:38 GMT/BST NOT 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. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 AS INCORPORATED INTO UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN. 28 March 2024 Superdry plc (“Superdry” or the “Company”) Response to announcement by Julian Dunkerton The Company notes today’s announcement from Julian Dunkerton that he does not intend to make an offer for Superdry and, as a result, confirms that the Company is no longer in an offer period. Following a period of engagement, the Transaction Committee and Julian Dunkerton have, together, concluded that a takeover offer from Julian Dunkerton for Superdry is unlikely to deliver an outcome for shareholders, or stakeholders more broadly, that the Transaction Committee and Julian Dunkerton are confident can be executed in the context of the Company’s ongoing work on its turnaround plan and material cost saving options. However, the Company remains in discussions with Julian Dunkerton in respect of alternative structures, including a possible equity raise fully underwritten by Julian Dunkerton, which would provide additional liquidity headroom for the Company’s turnaround plan. It is expected that any equity raise would be at a very material discount to the current share price, require shareholder approval of a Rule 9 waiver (as referred in Note 1 of the Notes on Dispensations from Rule 9 of the Code) and be conditional on a de-listing of the Company. A further announcement will be made as appropriate. There can be no certainty that a transaction with Julian Dunkerton will be agreed. The person responsible for releasing this announcement is Jennifer Richardson, General Counsel & Company Secretary. Enquiries
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
ISIN: | GB00B60BD277 |
Category Code: | OTT |
TIDM: | SDRY |
LEI Code: | 213800GAQMT2WL7BW361 |
OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
Sequence No.: | 312687 |
EQS News ID: | 1870261 |
End of Announcement | EQS News Service |
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