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Frasers Group PLC - Shirebrook, England-based owner of House of Fraser, Sports Direct and Flannels retail chains - confirms successfully subscription for 4.0 million shares of handbags and other leather goods maker Mulberry Group PLC, at 100 pence each, according to the clawback provisions of the subscription announced by Mulberry on September 27. Participation in subscription brings Fraser’s holdings in Mulberry to 26.1 million shares, or 36.9% of shares outstanding. Percentage is relative to the open retail offer for up to 750,000 Mulberry shares. As Challice Ltd holds 56% of Mulberry share capital, Frasers has been granted a dispensation by the Takeover Panel. Fraser’s participation does not require it to make a mandatory cash offer to other Mulberry shareholders under FCA takeover code. Under the code, Frasers has a put up or shut up date of no later than 17:00 on October 28, though Fraser may request to extend the deadline. Frasers current share price: 813.00 pence, closed up 0.8% in London on Friday 12-month change: up 3.2% Mulberry Group PLC: 110.00 pence, ended down 8.3% in London on Friday. 12-month change: down 46% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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