Founder Carol Kane ups her stake in Boohoo
Carol Kane, co-founder and executive director of Boohoo, has purchased 320,943 ordinary shares of 1 pence each at 31.08 pence per ordinary share, a total outlay of just under £100,000.
Following this transaction, she now owns 20,615,293 Ordinary Shares, representing approximately 1.47% of the Company’s issued share capital.
The trade follows a similar purchase in early December when Kane bought 294,350 shares at an average cost of 34p a share, totalling £100,079.
In December the board of Boohoo fought off an attempt by its largest shareholder, retailer Frasers, to install its controversial founder Mike Ashley onto the board.
It is likely a further attempt will be made by Ashley to remove Boohoo co-founder Mahmud Kamani from the board.
In August 2024 Boohoo shares hit an all time low of 27p, and have remained in the low 30p slump.
The company has sold off its London office, but it was also reported last year that the ailing Manchester-headquartered group has been involved in ‘heavy’ discussions about a possible break up, or a sale of key brands, which include Debenhams, Karen Millen and PrettyLittleThing.
At the same time the company also faces fierce competition from Chinese fast fashion group Shien, which is eyeing a London stock market float.
