The British trading company Frasers Group PLC has further increased its shares in Hugo Boss AG and now holds over 25 percent of the voting rights.
On June 12, the parent company of the Handelsketten Sports Direct, Frasers and Flannels exceeded the threshold of 20 percent and a few days later the threshold of 25 percent of the voting rights from shares at the Metzingen fashion group, Hugo Boss said on Friday. The Frasers Group currently maintains financial instruments in terms of 22.5 million shares of Hugo Boss, which corresponds to around 32 percent of the total capital of the fashion company.
The Frasers Group supports the improvement of Hugo Boss AG’s capital efficiency within the meaning of a long -term value -oriented corporate management, according to the message. According to the Fraser, the board and supervisory board of the group behind the boss and Hugo are to focus on increasing the shareholder value by increasing the share price instead of releasing dividends. Hugo Boss could use these remained funds for “other value -enhancing measures” to improve long -term growth and financial flexibility.
The message follows after Michael Murray, CEO of the Frasers Group, was appointed to the Hugo Boss AG supervisory board in May and Frasers continued his participation in April.