Mr. Naude has advised that he is seeking to hold discussions with potential financiers, both debt and equity, to gain their support for a potential change of control transaction of Billabong. Mr. Naude's decision was not solicited by the Board of Billabong and Mr. Naude has confirmed that there is no agreement, arrangement or understanding with any member of the Board or Billabong's senior management team in regard to his proposal. He is acting independently.
The Board of Billabong has agreed to Mr. Naude taking these steps, but strictly on the basis of certain protocols which ensure that the interests of the Company and shareholders are protected. The key protocols are:
| On 23rd Jun 2021
The Bangladesh Garment Manufacturers and Exporters Association...
| On 23rd Jun 2021
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