MySale news and archive

Frasers acquires 95 percent of Mysale shares, could trigger acquisition and AIM delisting

After undergoing a lengthy process, Frasers Group has announced that it has acquired 95.35 percent of Mysale’s shares as its offer period for the Australian marketplace's shareholders came to a close. As of November 1, the group said it now owns or has received valid acceptances totaling over 991.5 shares, representing a percentage that will...

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Frasers Group moves closer to MySale takeover

Frasers Group has said that it has received a number of valid acceptances to its mandatory offer of MySale shares, as it continues to slowly edge towards a takeover of the e-commerce site. In a regulatory filing, the group announced that it now holds over 691 million shares, representing approximately 66.48 percent of MySale’s entire issued...

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Frasers says MySale offer unconditional as it surpasses 50 percent stake

Following a series of attempts to acquire the entire ordinary share capital of MySale, Frasers Group has now said its mandatory offer for the marketplace has become unconditional. In a release published through the London Stock Exchange, the fashion conglomerate, which counts the likes of Sports Direct and House of Fraser among its portfolio,...

Business

Frasers Group calls on MySale shareholders to accept cash offer

Frasers Group has urged the shareholders of Australian e-commerce site MySale to accept its cash offer after the group acquired further shares. The acquisition-hungry group, which counts the likes of House of Frasers and Sports Direct among its portfolio, has announced in a regulatory filing that it has purchased an additional 65.4 million...

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U-turn: Mysale directors back Frasers Group takeover

The board of directors of Australian-based fashion marketplace Mysale have reversed their decision about a potential takeover by Frasers Group and are now recommending shareholders to back the deal. Frasers Group, whose portfolio includes Sports Direct, Jack Wills, and House of Fraser, made a mandatory cash offer to acquire the entire share...

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Frasers Group buys more MySale sales, urges shareholders to accept takeover

Frasers Group has further increased its stake in Australian fashion marketplace MySale as it urged the company’s shareholders to back its takeover offer. The group said Monday it has acquired 100,000,000 MySale shares from Jackson Family Capital and bought 62,145,385 shares from founder and chair Jamie Jackson. It has also swapped its interest...

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Mysale directors reject takeover bid from Frasers Group, chair steps down

Australian-based fashion marketplace Mysale announced Friday that its directors have rejected a takeover bid by British retail giant Frasers Group. Directors at Mysale said the offer did not “reﬂect an adequate value or premium for control of Mysale and therefore undervalues Mysale and its prospects”. The board has therefore recommended that...

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Boohoo co-founder buys stake in Mysale following Frasers Group investment

The co-founder of British fashion giant Boohoo has snapped up a stake in Mysale just weeks after Frasers Group offered to buy the Australian-based fashion marketplace. Mahmud Kamani, who founded Boohoo in 2006 alongside Carol Kane, bought over 45 million Mysale shares on August 31, giving him a 4.76 percent stake in the business, according to...

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Frasers Group offers to buy fashion marketplace MySale

British retail giant Frasers Group has made a cash offer to buy Australian-based fashion marketplace MySale. Frasers Group, whose portfolio of brands includes Flannels, Sports Direct, House of Fraser, and Jack Wills, became the biggest shareholder in MySale when it bought a 28.7 percent stake in the business in June. The group announced...

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Frasers Group snaps up 29 percent stake in MySale

Acquisition hungry Frasers Group has bought a 28.7 percent stake in Australian-based fashion marketplace MySale. In a brief statement, Frasers Group said it believes the deal will provide it with a “strategic partnership whereby end of line group products can be cleared via an established clearance channel”. It added that “this pipeline will be...

Business

MySale reports drop in H1 revenue and underlying profit

MySale has reported a drop in revenue and underlying profit in the first half of the year as the Australian retail group was hit by supply chain disruption. While the group’s gross profit in the six months to December 31 increased by 3 percent to 24.9 million Australian dollars, supply chain volatility in the second quarter impacted broader...

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MySale reports drop in full-year revenue, appoints new CEO

Australian online retailer MySale has reported a drop in revenue in the year ending June 30 as it appointed a new CEO. The company posted a 10 percent drop in revenue to 117.9 million Australian dollars, while its gross merchandise value (GMV) fell 4.3 percent to 125.4 million Australian dollars. On a more positive note, its gross profit...