Frasers Group plc (LON:FRAS) has announced its current investment in Hugo Boss now comprises the following:
· 2,714,300 shares of common stock, representing 3.9% of Hugo Boss’s total share capital
· Of the above, 2,714,300 shares of common stock, representing 3.9% of Hugo Boss’s total share capital is covered via the sale of call options
· 17,574,000 shares of common stock via the sale of put options, representing 25.0% of Hugo Boss’s total share capital
· Of the above, 1,760,000 of common stock, representing 2.5% of Hugo Boss’s total share capital is matched via the purchase of put options
After taking into account the premium it will receive under the put and call options, Frasers Group’s maximum aggregate exposure in connection with its net acquired interests in Hugo Boss, with the common stock holding valued at the closing share price on 5 January 2023, is approximately €660m (c. £580m).
The above represents the resultant position after the most recent transaction, the on-market sale of call options on 5 January 2023. If the sold call options are exercised at maturity the consideration will be retained by Frasers Group.
