SYDNEY, AUSTRALIA / ACCESSWIRE / September 24, 2021 / Naked Brand Group Limited (NASDAQ:NAKD) ("Naked" or the "Company"), today released an update to the chairman's address to shareholders from its recent annual meeting of shareholders on August 20, 2021 from Chairman and Chief Executive Officer Justin Davis-Rice.
On August 20, 2021, Chairman and Chief Executive Officer Justin Davis-Rice issued a chairman's address at its 2021 annual meeting of shareholders here. Subsequent to the address, Chairman and Chief Executive Officer Justin Davis-Rice has provided an update below.
September 2021 Business Update & Letter to Shareholders
On August 20th at our Annual Meeting of Shareholders, I provided an update on the status of our plans to find a merger or acquisition partner following the divestiture of the bricks-and-mortar operations of Bendon that resulted in an expanded balance sheet with a net cash position of $270 million USD for Naked Brand Group.
I am happy to report that after extensive searching and due diligence, we believe we have found a disruptive opportunity in the clean technology sector. Due diligence on both sides is progressing and we believe the business combination will reward our patient shareholders.
During my career as an owner and operator of many diverse businesses, I have always been attracted to commercial opportunities that benefit our environment and help contribute to the growing ESG mandates that major corporations are implementing today across the globe. This company is a market leader with cutting edge patented proprietary technology that we believe satisfies those ESG mandates. We have made significant progress over the past few weeks and believe the path to a definitive agreement is in sight. However, there can be no assurance that we will sign a definitive agreement, or if we do sign an agreement, that we will be able to close the business combination.
We look forward to unveiling the new phase of the Naked Brand story.
Chairman and Chief Executive Officer
About Naked Brand Group Limited:
Naked Brand Group Limited (NASDAQ: NAKD) is a leading e-commerce business in intimate apparel. The company is the exclusive seller and marketer of renowned intimate apparel brand Fredericks of Hollywood via its online store www.fredericks.com. For more information about the company, 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 the deployment of capital and future acquisitions. 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. Among the key factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are the following: our ability to negotiate and sign a definitive agreement for the proposed transaction; our ability to consummate the proposed transaction if a definitive agreement is ultimately signed, including due to the failure to satisfy any closing conditions that may be set forth in the definitive agreement; our ability to successfully integrate the operations of the acquired business and to maximize expected synergies; other risks related to our ability to identify and consummate acquisitions of accretive businesses, and realize the expected benefits of such transactions; and other risks and uncertainties set forth under "Risk Factors'' in our Annual Report on Form 20-F for the fiscal year ended January 31, 2021 and in our other filings with the Securities and Exchange Commission. 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.
MZ North America
SOURCE: Naked Brand Group Limited