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Proposed Fundraise to raise approximately £35 million
Further to the "Response to Speculation and Planned Fundraise" announcement released at 7:00 a.m. on 17 February 2026, Debenhams Group (AIM: DEBS), is pleased to announce that it has concluded discussions with its lending syndicate, and in light of substantial indicative demand from investors, is launching the Proposed Fundraise of approximately £35 million. This comprises a proposed placing (the "Placing") and a direct subscription (the "Subscription") (together, the "Fundraise") of new ordinary shares of £0.01 each ("Ordinary Shares") (the "New Ordinary Shares").
194,444,444 New Ordinary Shares will be issued pursuant to the Fundraise at a price of 18 pence per share (the "Issue Price"). The Issue Price represents a discount of approximately 5 per cent. to the closing price of 19 pence per Ordinary Share on 17 February 2026 (being the latest practicable date prior to the release of this Announcement).
The Placing is being conducted through an accelerated bookbuild process outside the United States (the "ABB"), which will be launched immediately following the release of this Announcement, in accordance with the terms and conditions set out in the Appendix of this Announcement (the "Terms and Conditions"). Zeus Capital Limited ("Zeus") and Panmure Liberum Limited ("Panmure Liberum") are acting as Bookrunners in relation to the Placing and Zeus is acting as Nominated Adviser to Debenhams Group.
Applications will be made to London Stock Exchange plc for the admission of the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission of the New Ordinary Shares is expected to commence at 8.00 a.m. on 23 February 2026.
· Proposed Fundraise, comprising of (i) a Placing of New Ordinary Shares (the "Placing Shares"), and (ii) a Subscription for New Ordinary Shares (the "Subscription Shares") both at the Issue Price.
· Dan Finley, Mahmud Kamani (together with his close relatives and related trusts), and Iain McDonald, each a director of the Company, all intend to participate in the Placing.