Ahmed still building Moss Bros stake
Jeans tycoon’s holding tops 10 per cent
May 13 2003
Shami Ahmed has increased his shareholding in UK menswear retailer Moss Bros to more than 10 per cent.
Moss Bros said it has received notification of an interest in shares which brings Ahmed’s interest to 10.28 per cent, held through Cantor Fitzgerald.
Ahmed, founder of the Joe Bloggs jeans brand, launched a hostile takeover bid for Moss Bros last year, and was eventually blocked by the Takeover Panel for a six month period which expired last year.
The Moss Bros business has since started to stage a recovery under new chief executive Adrian Wright, with some analysts suggesting that Ahmed is currently building a strategic stake rather than planning a full-blown takeover.
Moss Bros said the most recent notification from Ahmed “did not comply with statutory requirements and clarification has been requested.”
* As of Wednesday May 14, Moss Bros announced that Cantor Fitzgerald held shares amounting to a 12.19 per cent stake.
