Superdry plc: Response to announcement by Julian Dunkerton
The Company notes today’s announcement from Julian Dunkerton that he does not intend to make an offer for Superdry and, as a result, confirms that the Company is no longer in an offer period.
- The Company notes today’s announcement from Julian Dunkerton that he does not intend to make an offer for Superdry and, as a result, confirms that the Company is no longer in an offer period.
- Following a period of engagement, the Transaction Committee and Julian Dunkerton have, together, concluded that a takeover offer from Julian Dunkerton for Superdry is unlikely to deliver an outcome for shareholders, or stakeholders more broadly, that the Transaction Committee and Julian Dunkerton are confident can be executed in the context of the Company’s ongoing work on its turnaround plan and material cost saving options.
- However, the Company remains in discussions with Julian Dunkerton in respect of alternative structures, including a possible equity raise fully underwritten by Julian Dunkerton, which would provide additional liquidity headroom for the Company’s turnaround plan.
- There can be no certainty that a transaction with Julian Dunkerton will be agreed.