THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU
596/2014), WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018.
Unless otherwise
stated, defined terms used in this announcement have the meanings
given to them in the Circular published by the Company on 21 May
2024 and
the announcement published by the Company on 11 June
2024.
17 June 2024
Superdry
Plc
(“Superdry” or the “Company”)
Result of
Sanction Hearing
Superdry announces the result of
the sanction hearing for the Restructuring Plan.
Superdry is pleased to announce
that the Restructuring Plan has been sanctioned by the Court
following the sanction hearing held on 17 June 2024.
The compromises effected by the
Restructuring Plan are summarised in the announcement published by
Superdry on 16 April 2024. The sanction of the Restructuring Plan
is a condition to the Equity Raise, in the form of the Placing,
which was approved by Shareholders on 14 June 2024. The
Restructuring Plan is, along with the Equity Raise (in the form of
the Placing) and the Delisting, part of the Capital and
Restructuring Measures being undertaken by the Group.
As set out in the announcement
published on 11 June 2024, the Restructuring Plan received the
support of 99% of the Plan Creditors which attended and voted at
the Plan Meetings held on 10 June 2024.
The sanction of the Restructuring
Plan by the Court will enable the Group to implement the Capital
and Restructuring Measures, which the Group is undertaking in order
to secure its long-term future and return to
profitability.
Commenting on the result of the
Sanction Hearing, Peter Sjӧlander, Superdry Chairman,
said:
“This is an
important moment for Superdry. My thanks and those of the entire
Board go to the shareholders and creditors of Superdry who have
supported the proposals, which will enable the business to go
forward with the right structure, balance sheet and cost base to
deliver its turnaround and future growth.”
Enquiries
|
Superdry
Peter Sjӧlander,
Chairman
|
+44 (0) 1242
586747
|
|
|
|
|
Teneo Financial Advisory Limited (Financial Adviser to the Plan
Company)
Gavin
Maher
Jonathan
Lees
|
+44 (0) 208 052 234
|
|
Peel Hunt LLP
(Sole Sponsor and Financial Adviser to Superdry)
George
Sellar
Michael
Nicholson
Andrew
Clark
|
+44 (0) 207
418 8900
|
|
Brunswick
Group LLP (Financial PR to Superdry)
Tim
Danaher
|
+44 (0) 207
404 5959
|
|
|
|
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N. M.
Rothschild & Sons Limited (Financial Adviser to Julian
Dunkerton)
John
Byrne
Charles
Fenwick
|
+44 (0) 121
600 5252
|
The person responsible for
releasing this announcement is Jennifer Richardson, General Counsel
& Company Secretary.