Exercise of Over-allotment
June 25 2007 - 3:03AM
UK Regulatory
RNS Number:9276Y
Burani Designer Holding N.V.
25 June 2007
THIS ANNOUNCEMENT OR ANY COPY OF IT IS NOT FOR DIRECT OR INDIRECT RELEASE,
PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN OR TO A RESIDENT, NATIONAL OR CITIZEN OF AUSTRALIA, CANADA OR JAPAN.
25 June 2007
BURANI DESIGNER HOLDING N.V.
Announcement of Exercise of Over-Allotment Arrangements
Burani Designer Holding N.V.(1), a company offering Italian lifestyle products
and services to customers world-wide, today announces that, in connection with
its initial public offering of ordinary shares (the "Offer"), Credit Suisse
Securities (Europe) Limited ("Credit Suisse"), as stabilising manager, has
exercised the over-allotment option in respect of 2,264,920 existing ordinary
shares granted by certain shareholders of the Company to Credit Suisse in
connection with the Offer. The gross proceeds from the sale of these shares
will be paid to the selling shareholders. The Company will not receive any of
the proceeds from such sale.
Following the exercise of the over-allotment option, the total number of
ordinary shares issued or sold in connection with the Offer will be 19,653,797
ordinary shares, representing approximately 26 per cent. of the 75,603,816
ordinary shares in issue of the Company.
Enquiries:
Burani Designer Holding N.V. Tel: +39 02 7642 0111 / +39 348 256 1971
Carol Brumer (cbrumer@buranidh.com)
Credit Suisse Securities (Europe) Limited Tel: +44 20 7888 8888
Antony Isaacs
Luca Deantoni
Lehman Brothers International (Europe) Tel: +44 20 7102 1000
Matteo Saviotti
Ed Boyce
Citigate Dewe Rogerson Tel: +44 20 7638 9571
Kate Delahunty (kate.delahunty@citigatedr.co.uk)
Sarah Gestetner (sarah.gestetner@citigatedr.co.uk)
This announcement, for which BDH and its directors are solely responsible, has
been approved by Credit Suisse Securities (Europe) Limited and Lehman Brothers
International (Europe) solely for the purpose of section 21 of the Financial
Services and Markets Act 2000. Credit Suisse Securities (Europe) Limited and
Lehman Brothers International (Europe), which are authorised and regulated in
the United Kingdom by the Financial Services Authority, are advising BDH and
no-one else in connection with the flotation and will not be responsible to any
person other than BDH for providing the protections afforded to their clients or
for advising any other person in relation to the flotation.
Information contained in this announcement may include 'forward-looking
statements'. All statements other than statements of historical facts included
in this announcement including, without limitation, those regarding the BDH
Group's financial position, business strategy, plans and objectives of
management for future operations (including development plans and objectives
relating to the BDH Group's products) are forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other important facts that could cause the actual results, performance or
achievements of the BDH Group to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements.
Such forward-looking statements are based on numerous assumptions regarding the
BDH Group's present and future business strategies and the environment in which
the BDH Group will operate in the future. These forward-looking statements speak
only as at the date of this announcement. The BDH Group expressly disclaims any
obligations or undertaking to disseminate any updates or revisions to any
forward-looking statements contained in this announcement to reflect any changes
in the BDH Group's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
Information contained in this announcement cannot be relied upon as a guide to
future performance.
This announcement may not be distributed, directly or indirectly, in or into the
United States, Canada, Australia or Japan. This announcement does not
constitute or form part of an offer to sell or issue, or any solicitation of an
offer to buy or subscribe for, any securities referred to herein. The Offer and
the distribution of this announcement and other information in connection with
the Offer in certain jurisdictions may be restricted by law and persons into
whose possession any document or other information referred to herein comes
should inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction.
The securities mentioned herein have not been, and will not be, registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act").
This announcement is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
under the Securities Act or an exemption from registration under the Securities
Act. No public offering of securities has or will be made in the United States.
NOTES TO EDITORS
The BDH Group offers a complementary range of Italian lifestyle products and
services to an international customer base.
Growth and development of the BDH Group
* The BDH Group operates in the fashion apparel, leather goods and
fashion jewellery businesses through its majority owned subsidiary Mariella
Burani Fashion Group S.p.A. ("MBFG"). MBFG, 52.8% owned by BDH, was founded by
the Burani family in 1960, and developed in the fashion apparel market with its
own brand, Mariella Burani, and with a prestigious portfolio of licensed brands.
* MBFG's shares were listed on the Italian Stock Exchange in July, 2000
and on the Star segment of the exchange since it was established in 2001. MBFG
fuelled its aggressive expansion and diversification programme with the proceeds
from the IPO with the objective of developing its product offering, brand
portfolio and geographic reach to become a leading provider of accessible luxury
products world-wide.
* The strategic acquisition programme pursued by MBFG from 2000 to date
resulted in the establishment of separate operating divisions to hold its
leather goods businesses and, more recently, its jewellery businesses. The
acquisition programme was also pivotal in the development of MBFG's
international distribution network which currently includes 321 exclusive
boutiques situated in the most prominent shopping locations world-wide, 100
showrooms, and over 9,000 wholesale clients.
* The development model entailed the acquisition and aggregation of high
quality "Italian lifestyle" businesses to create operating divisions which
benefit from scale and from synergies existing within the BDH Group. The
respective operating divisions have been separately incorporated as follows:
* Antichi Pellettieri holds majority control of the MBFG's eight
leather goods companies focusing on the design, production and international
distribution of handbags, accessories, footwear, and leather apparel
collections. Since its establishment, MBFG's leather goods division has become
a leading company in the leather segment of the accessible luxury goods market
with its own brands Francesco Biasia, Baldinini, Braccialini and Coccinelle and
with brands under license which include Missoni and Vivienne Westwood. In June
2006, Antichi Pellettieri S.p.A. was successfully listed on the Expandi market
of the Italian Stock Exchange, with MBFG, and indirectly BDH, remaining the
controlling shareholder.
* Gioielli d'Italia holds majority control of the MBFG's four fashion
jewellery companies that design, produce and distribute internationally a
complementary range of fashion jewellery collections in the accessible segment
of the luxury goods market. MBFG's fashion jewellery brands include Facco,
Rosato, Valente and Calgaro.
Extension into complementary Italian lifestyle markets
The BDH Group has already begun to expand into two complementary segments of the
accessible luxury goods market:
* Italian beachwear & underwear: Crisfer and Arcte were acquired in
2007. Crisfer is an Italian luxury beachwear company producing under the Fisico
and Fisichino brands, while Arcte is an Italian company operating in a
complementary segment of the luxury beachwear and underwear market whose lines
include Argentovivo and Bacirubati.
* Cosmetics & skincare: Eurocosmesi was acquired in 2007 and is an
Italian company that designs and distributes a wide range of perfumes under
licence for renowned international luxury brands, as well as skincare products
under its Transvital trademark.
Management believes these divisions will develop both organically and via
acquisitions and will benefit from increased scale as well as from synergies
offered by the BDH Group.
In addition, BDH expects to extend its operations to include other niche
segments of the Italian Lifestyle accessible luxury market that are generally
characterised by:
* Fragmented markets with local, limited distribution networks
inadequate to meet global market needs
* Segments experiencing a shift in consumer demand from unbranded to
branded products, accompanied by a process of market consolidation
* Products and services at the top end of these segments that are
becoming increasingly appealing to customers in emerging luxury markets
Value creation potential
Management believes that the combination of the Burani family's track record and
reputation in the luxury goods market, the value brought by strategic
shareholders, the skills contributed by BDH's new management team, as well as
the Group's distinctive investment approach, represents a strong opportunity to
create value for shareholders.
--------------------------
(1) "BDH" or the "Company"
This information is provided by RNS
The company news service from the London Stock Exchange
END
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