Ahmed increases Moss Bros stake
Holding now close to 20 per cent
June 6 2003
Jeans magnate Shami Ahmed has increased his stake in Moss Bros further, now holding almost a fifth of shares in the menswear retailer.
Ahmed, founder the Joe Bloggs brand, now has 19.2 per cent of Moss Bros shares after adding 8.9 per cent previously owned by Kevin Stanford, one of the founders of Karen Millen, to Ahmed’s existing stake.
Ahmed attempted a hostile takeover of Moss Bros last year, and was eventually barred by the Takeover Panel from making a bid for six months.
The Moss and Gee families, which founded the business, own 38 per cent of shares, and will ultimately decide the fate of any potential takeover. The families reconfirmed their support for the current management team under chief executive Adrian Wright at the company’s annual meeting at the end of May.