Home / Knowledge / News / Fashion / GUS to demerge remaining 65% stake in Burberry

GUS to demerge remaining 65% stake in Burberry

18
Nov '05
Retailer GUS plc declared the setting out details of its plans to demerge its remaining 65 per cent stake in Burberry Group plc by way of a dividend in specie, Burberry will post shortly a circular to shareholders setting out further details of the arrangements with respect to the proposed demerger.

Burberry will propose a series of resolutions to its shareholders, which the independent directors of Burberry believe would, if passed, allow the demerger to be implemented in a more orderly way, to the benefit of the Group and its shareholders.

Matters to be considered include approval of a demerger agreement between Burberry and GUS relating to such issues as pension liabilities, taxation and transaction expenses. Accordingly, the demerger is subject to shareholder approval from both Burberry shareholders and GUS shareholders.

Burberry will convene an extraordinary general meeting of shareholders on 12 December 2005 to consider the resolutions.

The expected timetable of principal events is set out below.

Luxury brand Burberry with a distinctive British sensibility, strong international recognition and differentiating brand values that resonate across a multi-generational and dual-gender audience. Company is distributing their products through a diversified network of retail, wholesale and licensing channels worldwide.

Leading retail & services provider GUS' activities comprise general merchandise retailing through Argos Retail Group, information and customer relationship management services through Experian and luxury goods through a majority shareholding in Burberry Group plc.

Burberry Group plc


Must ReadView All

Pic: Shutterstock

Textiles | On 17th Feb 2020

Vietnam textile firms urged to source from Malaysia, India

Pham Xuan Hong, president of Ho Chi Minh City’s textile association,...

Pic: Shutterstock

Textiles | On 17th Feb 2020

Myanmar to initiate measures to improve trade strategies

Myanmar will take measures to raise overseas demand for indigenous...

Pic: PaCT

Apparel/Garments | On 17th Feb 2020

IFC portal to monitor resource usage in Bangla RMG sector

The International Finance Corporation (IFC) has developed PaCT...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Bora Akris,

Bora Akris

Realkom, headquartered in Istanbul, is a fully integrated textile company...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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


February 2020

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


Advanced Search