Naked Brand Group, Inc. (NAKD)

[JOHNNIEBG]

They sold the Bendon group to JDR and Anna Johnson who each have trust funds. Then they borrowed 4.9 mil in August 23rd from Nakd. So JDR is getting his money in other ways. And he is still the CEO of Nakd. Go figure. Sounds like a big writeoff for someone who is still getting paid. JUST MY OPINION!!!

On April 30, 2021, the Group signed the Bendon Share Sale Agreement with JADR Holdings Pty Limited as trustee for the JDR Family Trust No 2, an entity affiliated with Justin Davis-Rice, and Matana Intimates Holdings Trustee Limited as trustee for the Matana Intimates Holding Trust, an entity affiliated with Anna Johnson (together, the “Buyers”), and simultaneously consummated the Bendon Sale contemplated thereby. Pursuant to the Bendon Share Sale Agreement, the Group sold all of the issued share capital in Bendon together with any accrued rights free from encumbrances for the consideration described below on the terms and conditions set out in the Bendon Share Sale Agreement.

Under Naked Facility, the Company will provide Bendon with a 5-year loan of up to NZ$7.0m (approximately US$4.9m) (the “Naked Facility”) as disclosed in note 15. The facility remains NZ$7.0m (approximately US$4.9m) with nil drawdown during the period ended July 31, 2021. Subsequently, Bendon drew down the full NZ$7.0m (approximately US$4.9m) facility on August 23, 2021.