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BRIEF-Naked Brand Group & Bendon Limited announce letter of intent to merge
January 13, 2017 / 1:37 PM / 6 months ago

BRIEF-Naked Brand Group & Bendon Limited announce letter of intent to merge

1 Min Read

Jan 13 (Reuters) - Naked Brand Group Inc :

* Naked Brand Group and Bendon Limited announce letter of intent to merge

* LOI with Bendon provides co would issue holders of ordinary shares of Bendon an aggregate of 118.8 shares of company

* Key employees of Bendon will be offered employment with company, to be effective upon completion of merger

* Naked Brand Group - LOI with Bendon provides co would issue holders of ordinary shares of Bendon aggregate of 118.8 million shares of common stock of co

* Agreed to adhere to a no-shop provision until earlier of date merger agreement is executed or LOI is terminated

* Naked Brand Group Inc says as stated in LOI, Davis-Rice will join Naked's board of directors, effective immediately

* Naked Brand Group - if merger agreement is not executed by February 10 company will be required to issue to bendon 2.5 million shares of common stock Source text for Eikon: Further company coverage:

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