Frasers Group plc (LON:FRAS) is boohoo’s largest shareholder, with c.27% of the issued share capital. This is a significant investment for Frasers in its capacity as a constructive, long-term, strategic investor, committed to maximising value for the benefit of all boohoo shareholders and other stakeholders.
Frasers has today published an open letter which it has sent to the board of directors of boohoo.
Frasers is requisitioning a general meeting of boohoo to appoint Mr. Mike Ashley as a director and CEO of boohoo and Mr. Mike Lennon as a director of boohoo, to take effect without delay. Frasers firmly believes that these appointments are in the best interests of boohoo, its shareholders and its stakeholders.
The Board appointments proposed by Frasers are now the only way to set a new course for boohoo’s future. Frasers urges boohoo shareholders to vote in favour of its proposals.
The full text of Frasers’ open letter can be found here:
