Withdrawal of Requistion and Appointment of Executive Directors

Esprit’s new biggest shareholder Karen LO Ki Yan (20.19% share) who is the beneficial owner of North Point Talent Limited (NPT) informed the Company about the withdrawal of the requisition dated 8 July 2020. As a result the Special General Meeting (SGM) will not be convened and Anders Kristiansen and Dr. Johannes Georg Schmidt-Schultes will remain as Executive Directors of Esprit, as well as Group Chief Executive Officer and Group Chief Financial Officer respectively. The board is firmly convinced of the strategic decisions and has a strong confidence in the Group CEO and Group CFO as well as their management team.

Furthermore, the board of the company appointed Marc Andreas Tschirner, Christin Chiu Su Yi and Wong Hung Wai nominated by NPT as additional Executive Directors of the Company with immediate effect.

Now, the company will continue to focus its energy on the execution of its strategy, wholesale partners and customers.