Boohoo unveils strong board ahead of AIM listing
FAST-growing online fashion retailer Boohoo.com has unveiled a strong line-up of directors ahead of its AIM listing next month.
Retail veteran Peter Williams would become non-executive chairman, and he will be joined by former Shop Direct Group chief executive Mark Newton-Jones, former Rothschilds dealmaker David Forbes and Zoopla finance director Stephen Morana as non executive direcrtors.
Already on the board as a non-executive is Cheshire-based Petar Cvetkovic, who is chief executive of parcel delivery company DX Group, which joined AIM this week, the biggest fundraising, £193m, on the junior market since 2006.
The new board will give Boohoo deep experience in technology, retail, logistics as well as corporate finance.
Dale Street-based Boohoo, which is being advised by Manchester-based Zeus Capital, is based on Dale Street in Manchester and also has its warehouse in Burnley.
It was founded in 2006 by joint chief executives Madmud Kamani and Carol Kane and is the UK’s leading own-brand ‘pure play’ fashion retailer.
Documents filed with AIM today reveal that Boohoo’s largest shareholder is Madmud Kamani, who owns 52.93% of the shares, while family members Jalal and Rabia Kamani both hold 14.7% – taking the family’s interest to 82.33%.
Carol Kane owns 9.8% of the business while the remaining 3.93% is held by Clare Hughes, the wife of financier Richard Hughes, a close friend of Mahmud Kamani.
Shares are expected to begin trading next week, with strong institutional demand expected for the stock. Boohoo’s nominated adviser and broker is Zeus Capital.
