KappAhl applies for de-listing and postpones AGM

15 Oct '19

2 min read

Pic: KappAhl

Mellby Gård declared the public offer for KappAhl unconditional on October 7. Subsequently, the board of directors of KappAhl has at the request of Mellby Gård, resolved to apply for de-listing of its shares from Nasdaq Stockholm. The last day of trading in KappAhl’s shares on Nasdaq Stockholm will be announced as soon as it receives confirmation from Nasdaq Stockholm.

Mellby Gård controls more than 90 per cent of the shares in KappAhl and has initiated compulsory redemption proceedings regarding the remaining shares in the company.

Due to the resolution to de-list the company’s shares, the board of directors of KappAhl has resolved to postpone the Annual General Meeting (AGM), which was previously intended to be held on December 6, 2019. The board of directors intend to revert with a new date for the Annual General Meeting 2019.

As requested by Mellby Gård and as announced in a separate press release, the board of directors of KappAhl has further convened an Extraordinary General Meeting to be held on November 7, 2019, for the purposes of, amongst other things, appointing a new board of directors.

KappAhl was founded in Gothenburg in 1953 and is a leading fashion chain in the Nordic region with 380 KappAhl and Newbie stores, including Shop Online, in Sweden, Norway, Finland, Poland and Great Britain. Its business idea is to offer value-for-money fashion of its own design to the many people.

Fibre2Fashion News Desk (PC)

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