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

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

L-R: Jonathan Akeroyd, Donatella Versace, John D Idol. Courtesy: Rahi Rezvani

Fashion | On 25th Sep 2018

Michael Kors to acquire Versace; to be renamed Capri

Michael Kors Holdings Limited, a global fashion luxury group, has...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Interviews View All

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

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

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


October 2018

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

news category


Related Categories:

Advanced Search