7th Apr 2022 19:44
Frasers Group PLC - Shirebrook, England-based retail group which owns stores House of Fraser and Sports Direct - Notes recent press reports regarding the historic Grant Thornton audits of Sports Direct. Confirms it has at no time been part of the investigation. Says it has only been contacted as a witness during the investigation. Affirms that there has not been any suggestion of wrongdoing by Frasers during the investigation.
According to the Financial Times, Thornton quit as Sports Direct's auditor following concerns over the disclosure of a EUR674 million tax bill hours before it was due to sign off on its annual accounts.
Separately, the company increases its investment in Hugo Boss AG. Now holds 1.5 million shares of common stock, representing 2% of the Metzingen, Germany-based fashion house. Also holds 16.3 million common stock shares via the sale of put options, representing 23% of the company's share capital. Common stock holding is valued at EUR715 million at the closing share price on Thursday.
Current stock price: 661.61 pence
12-month change: up 33%
By Heather Rydings; [email protected]
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