DGAP-News: PUMA SE / Key word(s): Miscellaneous PRESS RELEASE PUMA welcomes planned Change in Ownership Structure Kering's proposal to reduce its stake would enhance PUMA's share free float, support business strategy and increase attractiveness of shares "We are very pleased that Kering has proposed this way to reduce its stake in PUMA. It would allow us to continue with our current business strategy that has started to show good results," said Bjørn Gulden, CEO of PUMA. "We would be able to carry on to invest in becoming the Fastest Sports Brand in the world, create value for retailers, improve performance for athletes and excite consumers." French luxury group Kering, owner of approximately 86% of PUMA's total share capital, announced earlier today that it will propose to its Annual General Meeting to distribute approximately 70% of the total share capital of PUMA to Kering's shareholders, thus reducing its shareholding in PUMA to approximately 16%. As a consequence, Kering's largest shareholder Artémis SA* would receive approximately 29% of PUMA's share capital and would become a direct and long-term shareholder. The transaction enables Kering to focus on its core luxury business in high-end fashion, leather goods as well as jewelry and watches. The transaction would increase PUMA's free float from currently 14% to approximately 55%. "PUMA would become much more attractive for investors as our shares would have a substantially higher free float and larger trading volumes. Kering and Artémis, however, would remain strong partners and shareholders, which proves that they believe in our strategy and PUMA's future success," said Bjørn Gulden. The transaction is subject to approval by the Annual General Meeting of Kering SA to be held on 26 April 2018. *Artémis is the holding company of the Pinault family and the controlling shareholder of Kering. Media Relations: Investor Relations: Notes to the editors: - The financial reports are posted on www.about.puma.com. - PUMA SE stock symbol: PUMX
Reuters: PUMG.DE, Bloomberg: PUM GY, Notes relating to forward-looking statements:
PUMA is one of the world's leading Sports Brands, designing, developing, selling and marketing footwear, apparel and accessories. For over 65 years, PUMA has established a history of making fast product designs for the fastest athletes on the planet. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Golf, and Motorsports. It engages in exciting collaborations with renowned design brands to bring innovative and fast designs to the sports world. The PUMA Group owns the brands PUMA, Cobra Golf and Dobotex. The company distributes its products in more than 120 countries, employs more than 13,000 people worldwide, and is headquartered in Herzogenaurach/Germany. For more information, please visit http://www.puma.com
11.01.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | PUMA SE |
PUMA Way 1 | |
91074 Herzogenaurach | |
Germany | |
Phone: | +49 9132 81 0 |
Fax: | +49 9132 81 2246 |
E-mail: | investor-relations@puma.com |
Internet: | www.puma.com |
ISIN: | DE0006969603 |
WKN: | 696960 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
644875 11.01.2018