Naked Brand Group Limited: Naked Brand Group Announces Final Results of Extraordinary General Meeting and Closing of Bendon Divestiture
SYDNEY, AUSTRALIA / ACCESSWIRE / April 30, 2021 / Naked Brand Group Limited (
NASDAQ:NAKD) ( Naked or the Company ), has announced final vote tallies from its Extraordinary General Meeting of its shareholders held on Friday, April 23, 2021 at 10:00 am (Sydney time), at which Naked s shareholders approved the Company s divestiture of its Bendon brick-and-mortar operations.
The final tabulation of votes cast for and against the proposal, as well as the number of abstentions and broker non-votes with respect to the proposal, is as follows:
For
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With shareholder support, the Company has signed the definitive agreement for the divestiture and simultaneously closed the transaction on Friday, April 30, 2021 (Sydney time).
Shares of Naked Brand Group (NASDAQ:NAKD) jumped on Friday after the swimwear and intimate apparel maker announced the final tallies from its shareholder meeting. As of 11:55 a.m. EDT today, the stock s price was up more than 14%.
So what
Naked s shareholders voted to approve the sale of its Bendon subsidiary. The vote paved the way for the company to complete its transition to a fully e-commerce-based business.
Naked wasted little time in offloading its money-losing brick-and-mortar operations. It closed its previously announced divestiture agreement with a group that includes members of its management team, like CEO Justin Davis-Rice. The terms of the deal give Naked a share of any net profits Bendon earns over the next three years.
Naked Brand Group Announces Final Results of Extraordinary General Meeting and Closing of Bendon Divestiture
ACCESSWIRE
30 Apr 2021, 22:43 GMT+10
Divestiture Transforms Naked into Asset-Light Business Positioned to Grow into an E-Commerce Leader in Intimate Apparel Market
NASDAQ:NAKD) ( Naked or the Company ), has announced final vote tallies from its Extraordinary General Meeting of its shareholders held on Friday, April 23, 2021 at 10:00 am (Sydney time), at which Naked s shareholders approved the Company s divestiture of its Bendon brick-and-mortar operations.
The final tabulation of votes cast for and against the proposal, as well as the number of abstentions and broker non-votes with respect to the proposal, is as follows:
On April 23, shareholders voted for approval of the proposed transaction to divest Bendon brick-and-mortar operations.
Below is a chart analysis on the 15-minute timeframe. Click Here to see the zoomed-out daily chart analysis.
Naked Brand 15-Minute Chart Analysis
Naked Brand s stock was able to test and hold a key level as support where it has previously held as resistance. The stock has been forming higher lows throughout the past six months.
The stock is trading above both the 50-day moving average (green) and above the 200-day moving average (blue) on the 15-minute timeframe, indicating the stock’s short-term sentiment is most likely bullish.
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