Frasers Now Intends To Seek To Buy Addl MySale Shares By Means Of Market Or Other Purchases

Frasers Group plc (FRAS.L ZVX.F), on Monday, announced that it is now interested in 481,276,224 MySale Shares, representing 48.5% per cent of the voting rights of MySale.

Under Rule 9 of the Takeover Code, Frasers is now required to make a mandatory cash offer for the MySale Shares not already held by Frasers.

Frasers now intends to seek to acquire additional MySale Shares by means of market or other purchases and in accordance with the Takeover Code. Frasers believes that accepting the Offer will provide MySale Shareholders with the opportunity to achieve an immediate liquidity event.

On 17 August 2022, Frasers announced a firm intention to make an offer for the entire issued and to be issued ordinary share capital of MySale Group plc not already owned by Frasers at a price of 2 pence per MySale Share. On 2 September 2022, the company published an offer document setting out the full terms and conditions of the Offer.

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