The UK-based online retailer and fashion-led marketplace had previously set out plans to conduct this fundraising process in an announcement dated 18 February 2026.
It completed the placing and subscription at an issue price of 18 pence per share, which represented a 5% discount compared to the 19 pence closing price on 17 February 2026.
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The fundraise, described as “significantly oversubscribed” at the set issue price, involved the placing of 200 million new ordinary shares and a subscription for 22.22 million new ordinary shares.
After deducting expenses related to the transaction, net proceeds stand at approximately £38.7m.
Admission of the new ordinary shares to trading on AIM is scheduled to take place on 23 February 2026. The shares will be issued fully paid and will rank equally with existing ordinary shares, including eligibility for future dividends or other distributions.
Debenhams Group CEO Dan Finley said: “We are pleased with the strong level of support from new and existing shareholders. The success of the fundraise demonstrates the strength of support for our multi-year turnaround strategy. The fundraise will deliver an improved capital structure for the Group, providing us with greater financial flexibility to execute our turnaround strategy and deliver value for all shareholders.”
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By GlobalDataIn connection with the fundraising activities, Iain McDonald has stepped down from his positions as non-executive director and chair of the remuneration committee with immediate effect.
This change enables participation in the fundraise by certain funds managed by McDonald, who was among those taking part in the transaction alongside Dan Finley, director Mahmud Kamani and associated parties.
With Tom Handley joining last year and Tim Morris moving into the independent chair role in 2024, the board stated that it remains of appropriate size and independence following McDonald’s departure.
Iain McDonald said: “It has been a pleasure to be a non-executive director at Debenhams over the last 9 years and I am delighted to support the Company in the Fundraising. This should be viewed as a measure of how much I believe the current market valuation of the business undervalues its future prospects. Dan has transformed the cost base and business model since being installed as CEO and with the re-basing of the business to a profitable core now largely complete, the prospects for strong growth and cash generation are the best for many years. I have confidence in the Board and wider management team on delivering its turnaround. I look forward to watching the continued momentum of the business as a supportive investor.”
The company reported that for the year ending 28 February, trading exceeded forecasts, and it now anticipates full-year Adjusted EBITDA from total operations to reach £50m.
