Frasers Group plc said it intends to make the mandatory offer for XXL ASA. The Group noted that a further announcement will be made in due course.
On 6 January 2025, a fully underwritten rights issue of new shares was announced by XXL ASA. Following the completion of the Rights Issue and the registration of the share capital increase in XXL, Frasers Group plc will unconditionally control 28,776,451 shares and the same number of votes in XXL and trigger an obligation under the Norwegian Securities Trading Act to make a mandatory offer for the remaining shares in XXL that it does not already own.
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