XXL ASA ("XXL" or the "Company") has received a letter from Frasers Group plc ("Frasers") dated 19 December 2024 in which Frasers demands that the following resolution shall be considered and voted on by the Company's general meeting:
"The process in XXL ASA in connection with the proposed Alternative Rights Issue in XXL Holding ASA shall be investigated pursuant to the Norwegian Public Limited Liability Companies Act Section 5-25, with a view to clarifying the factual circumstances and legality of the proposal and connected extraordinary transactions (including, but not limited to, the circumvention of the 2/3 majority requirements for share capital increases, equal treatment requirements measured against dilutive transactions between the company and specific larger shareholders, compliance with duty of disclosure etc.), and other circumstances that may harm XXL or its shareholders as a result of the proposals."
Frasers has requested that a revised notice for the extraordinary general meeting called for 7 January 2025 be distributed in order for the above proposal to be considered at that extraordinary general meeting. However, the letter from Frasers was sent too late for inclusion of the proposal in the agenda for the 7 January 2025 extraordinary general meeting as there are less than 21 days to that date, which is the minimum notice period for general meetings in Norwegian public limited companies listed on the Oslo Stock Exchange. The Company will accordingly call for a separate extraordinary general meeting to consider and vote on the proposal from Frasers. That extraordinary general meeting will be held no later than one month from the date of Frasers' letter.
For further queries, please contact:
Investor Relations Tolle O. R. Grøterud
Tel: +47 90 27 29 59
E-mail: ir@xxlasa.com
Press contact: Jan Christian Thommesen
Tel: + 47 918 21 387
E-mail: presse@xxl.no
ABOUT XXL ASA
XXL ASA is a leading sports retailer with stores and e-commerce in Norway, Sweden and Finland. It is the largest among the major sports retailers in the Nordics. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Tolle O. R. Grøterud, Investor Relations Officer at XXL ASA, on 20 December 2024 at 09:40 CET.