TIDMBOO
RNS Number : 1385O
boohoo group plc
27 May 2020
For Immediate Release 27 May 2020
boohoo group plc
("boohoo" or "the Group")
Posting of the Annual Report and Accounts and AGM Notice
boohoo (AIM: BOO), a leading online fashion group, is pleased to
confirm that its Annual Report and Accounts for the year ended 29
February 2020, and its Notice of Annual General Meeting and Proxy
Card have now been posted to shareholders and a copy of both can be
found on the Company's website (www.boohooplc.com)
The Company's Annual General Meeting for the year ended 29
February 2020 will be held at 49 - 51 Dale Street, Manchester, M1
2HF on Friday, 19 June 2020 at 14:00.
Attendance and impact of COVID-19
The Directors are continuously monitoring the UK government
advice relating to COVID-19 and compulsory social distancing
measures ("Social Distancing Measures"). Given current guidance and
general uncertainty as to what additional or alternative measures
may be in place at the time of the AGM, it is intended that the AGM
will take place in a different format to previous years.
The Directors propose that the AGM will be attended by two
Directors (each of whom holds shares) in person only (adhering to
Social Distancing Measures). Shareholders who travel to the meeting
will not be admitted and are therefore advised not to travel to the
AGM.
The Directors also request that Shareholders vote in advance of
the AGM either electronically, via CREST or by completing and
returning the enclosed form of proxy as soon as possible and in any
event not later than 14:00 on 17 June 2020. The resolutions set out
in the Notice of Meeting will be voted on by way of a poll. All
valid proxy votes (whether submitted electronically or in hard copy
form) will be included in the poll to be taken at the meeting.
Notwithstanding the Social Distancing Measures, the Directors
recognise the importance of the AGM as an opportunity for
Shareholders to communicate to the Directors and accordingly,
Shareholders will be able to use a dial-in facility to enable them
to listen to the AGM proceedings. Shareholders attending the
meeting via this facility will not be counted in the quorum for the
meeting and accordingly will not be able to vote at the
meeting.
The Directors are currently looking to put in place facilities
to enable questions to be taken from Shareholders listening
remotely after the conclusion of the business of the AGM. It is
intended that further details of this facility will be published on
the Company's website ( www.boohooplc.com ) in due course.
In addition, Shareholders are encouraged to submit questions, no
later than 7 days prior to the AGM, via email to the Company
Secretary at legal@boohoo.com. The Company will endeavour to
publish these questions and the Company's responses on the
Company's website, www.boohooplc.com , as soon as practicable after
the AGM.
Correction to Final Results announcement and Annual Report and
Accounts
Within the group's Annual Report and Accounts and within the
Final results announcement on 22 April 2020, the word "policy"
contained in the heading to note 1, Accounting Policies should not
have been included and the heading should read "Change of
accounting, non-controlling interest - restatement of 2019
financial statements". As that note describes, an error was
identified in the accounting treatment used in prior years which
has now been corrected and the prior year restated. The Group
confirms that the accounting treatment set out within this
paragraph is compliant with IFRS accounting standards.
Definition of Free cash flow
Free cash flow is disclosed within page 9 of the Group's most
recent annual results published on 22 April 2020, and contains
clear definitions, alongside a full reconciliation down to net cash
flow for the financial year, including items such as tax paid and
dividends paid to minority shareholders.
The Group considers that its free cash flow measure has been
used on a consistent and transparent basis over its reporting
periods, and aids the reader's understanding of the underlying cash
flow of the business before any impact of financial structure or
taxation regimes. The Group recognises that Free Cash Flow is not
defined by IFRS, and will review this for future reports.
-ends-
Enquiries
boohoo group plc
Neil Catto, Chief Financial Officer Tel: +44 (0)161 233
2050
Alistair Davies, Investor Relations Tel: +44 (0)161 233
2050
Clara Melia, Investor Relations Tel: +44 (0)20 3289
5520
Zeus Capital - Nominated adviser and joint
broker
Nick Cowles/Andrew Jones (Corporate Finance) Tel: +44 (0)161 831
1512
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20 3829
Broking) 5000
Jefferies - Joint broker
Philip Noblet/Max Jones Tel: +44 (0)20 7029
8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth/ Kim Looringh-van Beeck/Toto Tel: +44 (0)20 7466
Berger 5000
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and
innovative brand targeting young, value-orientated customers. Since
2006, boohoo has been pushing boundaries to bring its customers
up-to-date and inspirational fashion, 24/7. boohoo has grown
rapidly in the UK and internationally, expanding its offering with
range extensions into menswear, through boohooMAN.
In early 2017 the group extended its customer offering through
the acquisitions of the vibrant fashion brand PrettyLittleThing,
and free-thinking brand Nasty Gal. In March 2019 the group acquired
the MissPap brand and in August 2019, the Karen Millen and Coast
brands, all complementary to the group's scalable multi-brand
platform. United by a shared customer value proposition, our brands
design, source, market and sell great quality clothes, shoes and
accessories at unbeatable prices. These investment propositions
have helped us grow from a single brand, into a major multi-brand
online retailer, leading the fashion eCommerce market for 16 to
40-year-olds around the world. As at 29 February 2020, the boohoo
group had around 14 million active customers across all its brands
around the world.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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