Debenhams

Debenhams has completed the sublease of its 1.1m sq ft distribution centre in Elizabethtown to ID Logistics; the takeover is expected to take place on 1 August 2026. The group has incurred around USD 124m at the site, the remaining lease term is about 8.5 years with future rental costs of around USD 100m. The transaction results in an unaudited, non-cash exceptional gain of around £40m and reduces annual rental costs from the current £13m to around £8m in the financial year 2028 and £6m in the financial year 2029. » Altro su de.investing.com

The Debenhams Group raised £40 million in an oversubscribed placing at an issue price of 18 pence per share (a 5% discount to 17 February). 200 million new ordinary shares were placed and applications were taken for a further 22.2 million shares; net proceeds after costs are about £38.7 million. Several insiders, including CEO Dan Finley and Chairman Mahmud Kamani, and the Frasers Group subscribed substantially; non-executive director Iain McDonald resigned in order to participate. The new shares are expected to be admitted to AIM around 23 February. » Altro su de.investing.com

Debenhams Group plans to place 194,444,444 new ordinary shares at 18p each (a 5% discount), raising around £35m. The issue represents about 14% of existing issued share capital and will be carried out via an accelerated bookbuild and a direct subscription; Zeus Capital and Panmure Liberum are bookrunners. Several directors, including Dan Finley, Mahmud Kamani and Iain McDonald, intend to participate in the placing. Net proceeds and additional liquidity are intended to improve covenants with the banking syndicate and increase financial flexibility for the turnaround and growth plan; trading of the new shares on AIM is expected to begin on 23 February. » Altro su de.investing.com