For Immediate Release
7 March 2014

boohoo.com plc
("boohoo" or the "Company")

Announcement of Placing details and Admission to AIM

Successful Placing to raise £300 million
Market capitalisation of £560 million at Placing Price
Trading starts 14 March 2014 on AIM

boohoo, one of the UK's largest pure-play online, own brand fashion retailers, today announces the successful pricing of its initial public offering ("the IPO") and the placing ("the Placing") of 600 million ordinary shares at 50p per share. It is expected that dealings will commence on AIM at 8.00 a.m. on 14 March 2014.

The Company designs, sources, markets and sells the latest on-trend fashions through the www.boohoo.com website to a core market of 16-24 year old consumers. boohoo is a well-established brand in the UK, Ireland and Australia and currently sells its products into over 100 countries.

boohoo is raising gross proceeds of approximately £300 million, £50 million of which will be used to accelerate its expansion and enhance its working capital base. A proportion of the money raised will be used as part of a multi-stage development plan to grow the Company's distribution facilities and repay the outstanding mortgage on its Burnley warehouse, in addition to funding the infrastructure and IT systems to support future international growth. Approximately £240 million will be used to repay the Convertible Loan notes held by the Company's existing shareholders. Following Admission the Board and the Kamani family will hold approximately 44% of the Company's enlarged share capital. On Admission, the Company is expected to have net cash of approximately £50 million.

The Company is expected to join AIM on 14 March 2014 with a market capitalisation at the Placing Price of approximately £560 million.

The Ordinary Shares will trade under the ticker "BOO" and the ISIN number is: JE00BG6L7297. Zeus Capital is acting as NOMAD and Sole Broker to the Company.

Company highlights

· A strong brand identity and competitive position
o Founded in 2006, boohoo has grown rapidly, developing a brand identity and an international online proposition, and now has over 2.3 million active customers, with approximately 140,000 new customers registering on the website per month
o High fashion, high quality and low price products
o Limited number of direct competitors, focused on a similar age group and price point

· Agile supply chain facilitated by a unique 'Trial and Repeat' model
o Trends transferred from catwalk to closet in as little as six weeks
o Low stock cover of just seven to eight weeks

· A successful track record of revenue generation and profit growth
o For the ten months to December 2013, sales increased by 70% to £91.9m and adjusted EBITDA grew 188% to £10.1m (versus £54.1m and £3.5m respectively for the same period in the prior year)
o Exclusively own brand offering, generating gross margins of over 60 per cent

· A highly experienced management team
o Founded by Joint Chief Executives, Mahmud Kamani and Carol Kane, who together have a long history of supplying fashionable clothing, accessories and shoes to high street retailers

· Demonstrated international growth
o Currently operates an English language website for all sales in the UK and globally and a local French language website launched in October 2013
o 37% of sales were international for the ten months to December 2013, growing from £18m to £34m

· A compelling growth market
o The global apparel retail market has grown at an average annual growth rate of 2.8% per annum since 2008 and is expected to be worth £987 billion by 2017. Online retail sales are forecast to take 23.5% of total fashion retail sales by 2016 in the UK
o Expansion of the current product range, will allow boohoo to broaden its appeal, supported by engagement through interactive content and marketing
o The Directors believe that boohoo's exciting growth prospects are underpinned by forecast growth in both the domestic and international online fashion retail markets, the Company's highly efficient sourcing model and a robust infrastructure development plan

Commenting on the announcement, Mahmud Kamani, Joint Chief Executive of boohoo, said:

"We are delighted to announce that our initial public offering has been successful. The placing and Admission to AIM marks a significant step for boohoo as we invest in this exciting growth opportunity underpinned by the rapidly growing online retail market.

We would like to welcome our new shareholders to the Company and look forward to continuing to develop our business providing market leading customer service for on-trend, value led fashion clothing and accessories as a publicly quoted company."

Carol Kane, Joint Chief Executive of boohoo, said:

"boohoo is a lifestyle driven, online destination and the 'go to' for the latest fashion trends at affordable prices. We are confident that our competitive position and growing customer base means that we are well placed to capitalise on the fast growing online fashion retail market. Our success to date, coupled with our exciting expansion plans, makes this an ideal time to bring the Company to AIM."




Enquiries:

boohoo.com plc
Mahmud Kamani, Joint Chief Executive
Carol Kane, Joint Chief Executive
Neil Catto, Chief Financial Officer

c/o Buchanan +44 (0)20 7466 5000
Buchanan - Financial PR adviser
Richard Oldworth
Helen Chan
Gabriella Clinkard

Citigroup today reaffirms its neutral investment rating on Boohoo.com Plc (LON:BOO) and set its price target at 270p.

That'll do. Bought a few more at 244p

Never easy to get it right Bb. I wouldn't be surprised to see 220p, briefly.

Getting gittery. ........

Shore Capital Buy 244.38 - - Reiterates

Liberum Capital Buy 244.38 300.00 300.00 Reiterates

Been there...... done that..... still gittery....

that's because you're a git :-)

markets really are very skittish and difficult at the moment, and individual even more so ..... probably doesn't matter much if you are happy to hold, but for those playing with S/Bs, it must be real nail-biting times

Can't see any reason for the jitters, Bb! You must have a very low average price by now and so long as you are in for the long haul, you should probably have accumulated a similar amount to Ronaldo's tax bill!!!

StockMarketWire.com
boohoo.com has granted options over a total of 979,593 ordinary shares under its long term incentive plan.

This included 138,037 options granted to chief financial officer Neil Catto.

Seems to be holding around the 240 mark......
Fingers crossed.
Ronaldo......... Lol.😀
And your right cynic. ...... old git....

Phew...... seems to be on the up.

Comment from Stifel today:
"We upgrade our rating from Hold to Buy as we do not believe the current share price fully reflects expected FY18 sales and earnings. Our estimates are at the top end of the consensus range (Stifel FY18E Sales +8% and PBT +11%) and are supported by our Proprietary Social Media Analytics analysis, which shows a higher level of customer engagement compared to close competitors. Furthermore, we believe in worldwide fulfilment from the UK, underpinned by the warehousing expansion (recently announced) and the UK-based supply chain. Our 288p TP implying 19% upside potential, is DCF based and reflects a £3bn sales opportunity.

With the two new warehouses, the group will have warehousing capacity up to an ambitious £3bn net sales capacity, by FY20. We do not foresee capacity constraints in the meantime, as PLT will be placed in a third-party facility. We find the decision to expand warehouse capacity in the UK and fulfil worldwide from the UK to be in line with boohoo’s supply chain strategy, which leverages close suppliers relationships.
Multibrands strategy. As PLT exponential growth demonstrated and management recently confirmed, the two recently acquired businesses should drive domestic and international sales growth “leveraging that capability that we have got at boohoo”. PLT benefited from both boohoo’s legacy operational infrastructure and expertise and we believe that the multibrand strategy should support the two businesses even further.
Valuation. While we recognise the increased execution risk, we believe the company is moving in the right direction. We upgrade our DCF-based TP from 192p to 288p (19% upside potential). BUY."

Cheers harry.

bit of a tree shake this morning.

Just resting before 300p Xmas. .......

Deutsche Bank today initiates coverage of Boohoo.com Plc (LON:BOO) with a buy investment rating and price target of 290p.

Whats going on then harry......

Steady as she goes, Bb. The summer months are always a bit slow on stocks as brokers and traders go on holiday. Am happy to hold.....might even add a few if the sp touches the 200 DMA......c220p.

is the 220 going to hold

Nope!