Mulberry (GB:MUL) has released an update.
Mulberry Group PLC has announced the successful subscription of 3,961,100 new ordinary shares by Frasers Group plc, with the shares priced at 100 pence each to raise approximately £10 million. This move is part of a larger subscription plan which, upon completion, is expected to result in an increase in Mulberry’s issued share capital to 70,077,458 Ordinary Shares, enhancing the company’s financial strength and shareholder value. Frasers, already a significant shareholder, further consolidates its investment through this related party transaction deemed fair by Mulberry’s directors.
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