FCCN.L Regulatory News (FCCN)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

2 March 2021

Gordon Brothers and Spotlight Brands

("GB and SB")

Statement regarding French Connection Group PLC

Further to the recent announcements made in relation to a possible offer for French Connection Group PLC ("French Connection") by GB and SB, GB and SB each confirms that they do not intend to make an offer under Rule 2.7 of the Code.

For the purposes of Rule 2.8 of the Code, GB and/or SB, and any person(s) acting in concert with them, reserves the right to make or participate in an offer or possible offer for French Connection (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months of the date of this announcement:

a. with the agreement of the board of directors of French Connection;

b. following the announcement of a firm intention to make an offer for French Connection by or on behalf of a third party;

c. following the announcement by French Connection of a proposal for a "whitewash" (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or

d. where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.

Enquiries:

Michael Collinson

Houlihan Lokey

020 7747 6628