Home / Knowledge / News / Fashion / Gant board recommends shareholders reject Procastor bid
Gant board recommends shareholders reject Procastor bid
07
Jan '08
•The Board of Directors recommends shareholders not to accept the offer from Procastor.

•Strong belief in the company as a stand-alone alternative creating shareholder value through existing business model.

•Multiple growth opportunities expected to secure strong long term growth in profits and cash flow.

•New financial target stating that EBIT shall amount to at least SEK 450 million in 2010 (SEK 242 million in 2006) and increase at an average annual rate of at least 15 percent in the following five-year period.

•New dividend policy to distribute at least 75 per cent of net income to shareholders.

Statement from Lennart Björk, Chairman of the Board: “The Board of Directors believes strongly in the future development of Gant as a stand alone company. The current business model, using franchisees in the establishment of new and the development of existing markets, has proven itself again and again."

"Gant's track record in delivering profits, cash flow and shareholder returns, in combination with exciting growth prospects are the basis for our recommendation to shareholders to say no to Procastor's offer and support Gant as an independent company delivering value to all shareholders.”

GANT is a Swedish company marketing and developing an international lifestyle brand with origins in the casual apparel and lifestyle of the American East Coast, where the brand was established in 1949.

Today, GANT is sold in over 70 countries through more than 310 independent GANT stores and over 4,000 selected retailers. The collections comprise clothes for men, women and children. In addition, watches, footwear, eyewear, fragrance and home furnishings are licensed under the GANT brand. In 2006, brand sales amounted to SEK 6,200 million. The Gant share is traded on the OMX Nordic Exchange Stockholm since March 2006.

Gant Company AB


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Top executives
Textile industry

It will take some time for the people to change their buying choices

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search