It said this investment reflects its “belief” in the Hugo Boss brand, strategy and management team. Frasers Group said it continues to intend to be a “supportive stakeholder” and create value in the interests of both Frasers Group’s and Hugo Boss’ shareholders.
The group also said it has 16.3m shares of common stock via the sale of put options, representing 23.2% of Hugo Boss’s total share capital.
According to Frasers Group, after taking into account the premium it will receive under the put options, its maximum aggregate exposure in connection with its acquired interests in Hugo Boss, with the common stock holding valued at the closing share price on 7 April 2022, is approximately £600m.
Frasers Group also announced that on 7 April 2022 it purchased 285,250 of its ordinary shares from Liberum Capital Limited (acting as the company’s broker) at an average price of 662.37p per share, as part of the company’s buyback programme. The purchased shares will all be held as treasury shares.
The company now holds 149.5m ordinary shares as treasury shares. The total number of ordinary shares in issue (excluding shares held as treasury shares) is 491m.