from SuperGroup (isin : GB00B60BD277)
Superdry plc: Result of Sanction Hearing
Superdry plc (SDRY) 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
The person responsible for releasing this announcement is Jennifer Richardson, General Counsel & Company Secretary. Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GB00B60BD277 |
| Category Code: | REP |
| TIDM: | SDRY |
| LEI Code: | 213800GAQMT2WL7BW361 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 328452 |
| EQS News ID: | 1926705 |
| End of Announcement | EQS News Service |