Frasers Group’s Major Share Pledge to HSBC

Frasers Group (GB:FRAS) has released an update.

Frasers Group PLC has disclosed that MASH Beta Ltd, through which Mike Ashley holds shares, has pledged 26.56 million Ordinary Shares to HSBC Private Bank as security for a derivatives trading facility. This pledge represents approximately 5.90% of the company’s issued share capital. Despite this move, Mike Ashley retains full voting rights and ownership of the shares.

For further insights into GB:FRAS stock, check out TipRanks’ Stock Analysis page.