TIDMMADE
RNS Number : 1545E
Made.com Group Plc
26 October 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART,
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
26 October 2022
Made.com Group Plc
("MADE" or the "Company")
Update on Formal Sale Process ("FSP") and Strategic Review
Further to the announcement on 25 October 2022, the board of
MADE provides the following update.
Following yesterday's developments, the board of MADE's
operating subsidiary Made Design Ltd ("MDL") has considered the
appropriate next steps.
In light of the fact that MDL is reliant on MADE for any further
funding requirements and in order to preserve value for its
creditors, the board of MDL has taken the decision to temporarily
suspend new customer orders. This decision remains under review and
a further announcement will be made as appropriate.
The board of MADE will continue to look to preserve value for
its creditors and shareholders in light of this decision.
Enquiries:
MADE
Nicola Thompson, Chief Executive Officer
Patrick Lewis, Chief Financial Officer
Phil Clark, Investor Relations
investor.relations@made.com
Brunswick Group
Sarah West
Diana Vaughton
made@brunswickgroup.com
+44 207 404 5959
PricewaterhouseCoopers LLP (Financial Adviser)
Robert Moran
Rick Jones
Jonathan Raggett
Iain Reilly
+44 (0) 20 7583 5000
J.P. Morgan Cazenove (Corporate Broker)
Bill Hutchings
James Summer
+44 207 742 4000
Liberum Capital Limited (Corporate Broker)
Clayton Bush
John Fishley
+44 203 100 2000
The person responsible for making this announcement on behalf of
Made.com Group Plc is Laura Tyler, General Counsel and Company
Secretary (Interim).
About MADE
MADE is the leading digitally native lifestyle brand in home,
disrupting the industry with high-quality, exclusive designs
underpinned by a responsible, small-batch production model,
enabling customers to realise the vision of their homes.
In addition to its in-house design team and collaborations with
leading designers, MADE champions independent talent, offering them
a platform and access to a scalable supply chain that makes their
ideas reality. These partners bring their unique perspective in the
creation of bold statement collections and work with MADE to
produce iconic designs.
Operating at the intersection of design and technology,
proprietary algorithms take consumers on a journey: from outreach
that makes designs discoverable to a frictionless digital shopping
experience. Combined with an innovative 'just-in-time' order model,
MADE provides a fresh and ever-changing range, with nine new
collections launched every week and more than 8,000 active SKUs in
the catalogue as at 30 June 2022.
Founded in 2010, MADE sells its products across the United
Kingdom, Germany, Switzerland, Austria, France, Belgium, Spain,
Ireland and the Netherlands via its e-commerce platform. The brand
also has seven showrooms across Europe, with flagship brand
experiences in London and Paris.
Important Notices
PwC is authorised and regulated in the United Kingdom by the
Financial Conduct Authority ("FCA") and is acting exclusively for
the Group and for no one else in connection with the subject matter
of this announcement and will not be responsible to anyone other
than MADE for providing the protections afforded to its clients nor
for providing advice in relation to the subject matter of this
announcement.
J.P. Morgan Securities plc, which is authorised by the
Prudential Regulation Authority ("PRA") and regulated in the United
Kingdom by the PRA and the FCA, is advising MADE in connection with
the application of the Takeover Code and is acting as corporate
broker to MADE and for no one else in connection with the subject
matter of this announcement and will not be responsible to anyone
other than MADE for providing the protections afforded to its
clients nor for providing advice in relation to the subject matter
of this announcement.
Liberum Capital Limited, which is authorised and regulated in
the United Kingdom by the FCA, is acting as corporate broker to
MADE and for no one else in connection with the subject matter of
this announcement and will not be responsible to anyone other than
MADE for providing the protections afforded to its clients nor for
providing advice in relation to the subject matter of this
announcement.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
This announcement (including any information incorporated by
reference in this announcement), oral statements made regarding the
formal sale process, and other information published by the Group
contain statements about the Group that are or may be deemed to be
forward looking statements. Without limitation, any statements
preceded or followed by or that include the words "targets",
"plans", "believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or words or terms of similar
substance or the negative thereof, may be forward looking
statements.
These forward-looking statements are not guarantees of future
performance. Such forward-looking statements involve known and
unknown risks and uncertainties that could significantly affect
expected results and are based on certain key assumptions. Many
factors could cause actual results to differ materially from those
projected or implied in any forward-looking statements. Due to such
uncertainties and risks, readers should not rely on such
forward-looking statements, which speak only as of the date of this
announcement. The Group disclaims any obligation or responsibility
to update publicly or review any forward-looking or other
statements contained in this announcement, except as required by
applicable law.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.
Inside information and responsibility
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement this inside information is now considered to be in the
public domain. The person responsible for making this announcement
on behalf of Made.com Group Plc is Laura Tyler, General Counsel and
Company Secretary (Interim).
Publication on website
A copy of this announcement will be made available, subject to
certain restrictions relating to persons resident in restricted
jurisdictions, on the Group's website at
corporate.made.com/investors by no later than 12 noon (London time)
on the business day following the date of this announcement.
Neither the content of any website referred to in this announcement
nor the content of any website accessible from hyperlinks is
incorporated into, or forms part of, this announcement.
LEI: 213800HTMSVKO71K6O71
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END
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October 26, 2022 02:04 ET (06:04 GMT)
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