Boohoo gets lender consent for latest fundraising efforts

(Sharecast News) - Online fashion retailer Boohoo Group announced on Monday it has secured lender consent for its latest fundraising effort, following earlier announcements detailing an oversubscribed placing, subscription, and retail offer on 14 and 18 November.

The AIM-traded firm said that with lender consent now in place, the fundraising was subject only to the conditions that the placing agreement remained valid and unconditional, and that the new shares were admitted to trading.

Boohoo said it had applied for the admission of 126,908,442 new ordinary shares to AIM, with trading expected to start at 0800 GMT on 26 November.

"Concluding the fundraising process and securing support from the banking syndicate is further evidence of the decisive steps that we have taken since announcing the business review," said chief executive officer Dan Finley.

"I now look forward to driving the business review forward and maximising value for all shareholders and the completion of this process gives us a great platform to do so."

At 0917 GMT, shares in Boohoo Group were down 0.52% at 30.46p.

Reporting by Josh White for Sharecast.com.