Frasers urges MySale shareholders to accept mandatory offer
By Frank Prenesti
Date: Monday 03 Oct 2022
(Sharecast News) - Frasers Group urged MySale shareholders to accept its offer for the company after lining up assurances that would give it a 50.1% stake in the Australian fashion platform.
The UK owner of Sports Direct and Jack Wills, among others, on Monday said it had had acquired 100,000,000 MySale shares from Jackson Family Capital.
It has also purchased 62,145,385 MySale shares from founder and chairman Jamie Jackson and swapped its interest in contracts for difference into 1,400,000 MySale shares; and acquired 13,161,748 MySale shares by means of market or other purchases.
In addition, Frasers has agreed to purchase a further 1,000,000 MySale shares from others in the market. Upon completion, Frasers Group will own a further 50.01% of MySale's issued share capital, the company said.
Frasers last week launched a mandatory offer for MySale.
"MySale Shareholders who have not yet accepted the Mandatory Offer are urged to do so as soon as possible," the company said.
Reporting by Frank Prenesti for Sharecast.com
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