Home / Knowledge / News / Apparel/Garments / Mothercare to raise £100mn & fund strategic plan
Mothercare to raise £100mn & fund strategic plan
25
Sep '14
Mothercare plc, the largest UK specialist retailer in its segment, said it will raise some £100 million through a rights issue and which will be £95 million, net of expenses.

The rights issue is a fully underwritten 9 for 10 rights issue at a price of 125 pence per new ordinary share, the retailer said.

The issue price represents a 34.2 percent discount to the theoretical ex-rights price of a share, when calculated by reference to the closing price of 248.25 pence per share on Sept 22.

Mothercare also added that the rights issue price also represents a 49.6 percent discount to the closing price of 248.25 pence per share also on Sept 22.

According to Mothercare, the rights issue is intended to enable the Group to deliver on its new strategic plan designed to turnaround its UK business.

The funds are also expected to transform the Group into a digitally-led business, supported by a modern store estate, well-invested IT systems and an efficient operational infrastructure.

Underpinned by this new strategic plan, Mothercare directors believe that it will then be able to unlock the value of its already successful global business and buttress its future growth.

The retailer will also repay a significant amount of its outstanding debt from the issue proceeds and offer it with a stronger capital base.

Mothercare plc is the largest UK specialist retailer in its segment and has nearly 1,500 Mothercare and ELC stores spanning approximately 60 countries. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search