REG-Superdry plc Superdry plc: Result of Sanction Hearing

SuperdryAnnouncement

17/06/2024 13:00

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   Superdry plc (SDRY)
   Superdry plc: Result of Sanction Hearing

   17-Jun-2024 / 12:50 GMT/BST

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   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF  ARTICLE
   7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU 596/2014), WHICH IS
   PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

    

   Unless otherwise stated, defined terms used in this announcement have the
   meanings given to them in the Circular published by the Company on 21 May
   2024 and the announcement published by the Company on 11 June 2024.

    

   17 June 2024

                                        

                                  Superdry Plc

                          (“Superdry” or the “Company”)

                                        

                                        

                           Result of Sanction Hearing

                                        

   Superdry  announces  the   result  of   the  sanction   hearing  for   the
   Restructuring Plan.

    

   Superdry is  pleased to  announce  that the  Restructuring Plan  has  been
   sanctioned by the  Court following the  sanction hearing held  on 17  June
   2024.

    

   The compromises effected by the  Restructuring Plan are summarised in  the
   announcement published by Superdry on 16  April 2024. The sanction of  the
   Restructuring Plan is a condition to the Equity Raise, in the form of  the
   Placing,  which  was  approved  by  Shareholders  on  14  June  2024.  The
   Restructuring Plan is,  along with the  Equity Raise (in  the form of  the
   Placing) and the Delisting, part of the Capital and Restructuring Measures
   being undertaken by the Group.

    

   As  set  out  in  the  announcement   published  on  11  June  2024,   the
   Restructuring Plan received the support of 99% of the Plan Creditors which
   attended and voted at the Plan Meetings held on 10 June 2024.

    

   The sanction of the Restructuring Plan by the Court will enable the  Group
   to implement the Capital  and Restructuring Measures,  which the Group  is
   undertaking in  order  to  secure  its  long-term  future  and  return  to
   profitability.

    

   Commenting on the result of the Sanction Hearing, Peter Sjӧlander,
   Superdry Chairman, said:

   “This is an  important moment  for Superdry. My  thanks and  those of  the
   entire Board go  to the shareholders  and creditors of  Superdry who  have
   supported the proposals, which will enable the business to go forward with
   the right structure, balance sheet and cost base to deliver its turnaround
   and future growth.”

    

   Enquiries

   Superdry
                             +44 (0) 1242 586747
   Peter Sjӧlander, Chairman
                                                

   Teneo Financial Advisory Limited (Financial Adviser to
   the Plan Company)

   Gavin Maher                                            +44 (0) 208 052 234

   Jonathan Lees

    

   Peel Hunt LLP (Sole Sponsor and Financial Adviser to
   Superdry)

   George Sellar                                         +44 (0) 207 418 8900

   Michael Nicholson                                      

   Andrew Clark

    
   Brunswick Group LLP (Financial PR to Superdry)
                                                         +44 (0) 207 404 5959
   Tim Danaher
                                                                             
   N. M. Rothschild & Sons Limited (Financial Adviser to
   Julian Dunkerton)
                                                         +44 (0) 121 600 5252
   John Byrne

   Charles Fenwick

    

   The person responsible for releasing this announcement is Jennifer
   Richardson, General Counsel & Company Secretary.

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B60BD277
   Category Code:  REP
   TIDM:           SDRY
   LEI Code:       213800GAQMT2WL7BW361
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   328452
   EQS News ID:    1926705


    
   End of Announcement EQS News Service

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References

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