On the 4th December 2019, Zeus Capital Limited and Jefferies International Limited announced that they had been advised by Mahmud Kamani and Carol Kane that they intended to sell up to 35,000,000 and 15,000,000 ordinary shares respectively in boohoo group plc (LON: BOO) via an accelerated bookbuild placing to institutional investors. Mahmud Kamani is the Group Co-Founder and Group Executive Chairman of boohoo, and Carol Kane is the Group Co-Founder and Executive Director of boohoo.
The Joint Global Co-ordinators announce that the Selling Shareholders have, subject to completion, sold 50,000,000 ordinary shares in the Company, representing approximately 4.3 per cent. of the issued share capital of boohoo. The Placing Shares were placed at a price of 285 pence per share and were sold to institutional investors in a placing managed by Zeus Capital and Jefferies, acting as joint bookrunners.
The Company is not a party to the Placing and will not receive any proceeds from the Placing.
Following the Placing, the Selling Shareholders hold 184,010,301 ordinary shares in the Company, representing approximately 15.8 per cent. of the Company’s issued share capital, as per the table below:
| Selling Shareholder | Shares held pre-Placing | Placing Shares sold | Holding after Placing | Holding % after Placing |
| Mahmud Kamani | 187,679,880 | 35,000,000 | 152,679,880 | 13.1 |
| Carol Kane | 46,330,421 | 15,000,000 | 31,330,421 | 2.7 |
| Total | 234,010,301 | 50,000,000 | 184,010,301 | 15.8 |
The Selling Shareholders have agreed that they will not, without the Boohoo’s and Joint Global Co-ordinators’ prior written consent, dispose of further ordinary shares in the Company for a period of 18 months (subject to certain to customary exceptions).
Settlement of the Placing is expected to take place on 09 December 2019, subject to the satisfaction or waiver of certain customary conditions.
