Naked Brand Group Limited Determines to Postpone Previously Announced Proposed Transaction with Sapinda Holding B.V.
SYDNEY, Australia, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Naked Brand Group Limited (NASDAQ: NAKD), a global leader in intimate apparel and swimwear (“Naked” or the “Company”), has determined to postpone its previously announced proposed $25 million strategic investment from Sapinda Holding B.V. (“Sapinda”), a leading European investment firm and owner of the globally recognized Italian luxury-lingerie firm La Perla, due to current market conditions.
“Unfortunately, the recent stock market volatility has compromised our ability to maximize our proposed investment relative to substantial dilution based upon Naked’s current share price,” said Lars Windhorst, Co-Founder and CEO of Sapinda. “We hope to re-evaluate the proposed transaction once market conditions stabilize and look forward to building a long-term partnership with Naked in the future.”
“We remain committed to our e-commerce initiatives and look forward to working with Sapinda in the future,” said Justin Davis-Rice, Chief Executive Officer of Naked Brand Group Limited. “While we can’t control market conditions, we always keep the interests of our shareholders paramount and expect to provide a comprehensive update on our soon to be announced shareholder update call in November,” concluded Davis-Rice.
About Sapinda Holding B.V.
Sapinda Holding B.V. is a privately-owned Principal Investment holding company, focused on special situation investment opportunities across continental Europe, Africa, Middle-East and Asia. It was formed in 2009 by a select number of entrepreneurs and prominent High-net-worth families seeking exposure to investment opportunities in special situations. The Sapinda management team is made up of a hand-picked group of individuals from around the world, including entrepreneurs, debt and equity financial industry professionals, each with a broad range of industry experience and international contacts. The management team is committed to its growth and has a controlling equity stake and is supported by a large number of institutional and high net worth investors. Sapinda Holding B.V. has offices in Amsterdam, London, Berlin and Hong Kong.
About Naked Brand Group Limited
Naked Brand Group Limited (NASDAQ:NAKD) is a leading intimate apparel and swimwear company with a diverse portfolio of brands. The company designs, manufactures and markets a portfolio of 11 company-owned and licensed brands, catering to a broad cross-section of consumers and market segments. Brands include Naked, Bendon, Bendon Man, Davenport, Fayreform, Hickory, Lovable, Pleasure State, Heidi Klum Intimates, Heidi Klum Man, Heidi Klum Swim. Naked Brand Group Limited products are available in 44 countries worldwide through 6,000 retail doors, a growing network of E-commerce sites and 61 company-owned Bendon retail and outlet stores in Australia and New Zealand. Brands are distributed through premier department stores, specialty stores, independent boutiques and third-party e-commerce sites globally, including Macy’s, Nordstrom, Saks Fifth Avenue, Harrods, Selfridges, Amazon and asos among others. For more information please visit www.nakedbrands.com.
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as “may,” “believe,” “anticipate,” “could,” “should,” “intend,” “plan,” “will,” “aim(s),” “can,” “would,” “expect(s),” “estimate(s),” “project(s),” “forecast(s)”, “positioned,” “approximately,” “potential,” “goal,” “pro forma,” “strategy,” “outlook” and similar expressions. Examples of forward-looking statements include, among other things, statements regarding future or projected financial performance, annualized financial performance, future growth in our business, trends in our industry, product innovation, acquisition synergies and efficiencies, and operational expansion. All such forward-looking statements are based on management’s current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. The risks and uncertainties are set forth under “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended January 31, 2018. Further, investors should keep in mind that our revenue and profits can fluctuate materially depending on many factors. Accordingly, our revenue and profits in any particular fiscal period may not be indicative of future results. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise, except as required by law.
Naked Brand Group Limited
MZ North America
Sapinda Media Inquiries
Newgate Communications Limited
Alistair Kellie or Henry Adefope
+44 (0)20 7680 6550
Released October 25, 2018