The vote by Boohoo shareholders for Frasers Group’s Mike Ashley to become company director received 36% of votes for and 63% of votes against while the vote for Mike Lennon to become director of Boohoo received 36% of votes for and 63% against.
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In its letter, Frasers said it believed “these appointments are in the best interests of Boohoo, all of its shareholders and all of its stakeholders”.
Tim Morris, Independent Non-Executive Chair of Boohoo Group, said: “I would like to thank our shareholders for their support of the Board. We remain focused on delivery of our Business Review with the objection of unlocking and maximising value for all shareholders.
Dan Finchley, CEO of Boohoo, added: “Our Group is a dynamic business, with great brands and extremely talented people, underpinned by best-in-class infrastructure. Since my appointment, I have hit the ground running, taking immediate and decisive actions to maximise and unlock value for all shareholders.
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By GlobalData“I am super energised to realise the significant opportunities I see for this business. I continue to believe this group is materially undervalued. Our most important work is ahead of us, and we will drive value for all shareholders.”
In an email to Just Style, a spokesperson for Frasers Group said it would respond in “due course”.
