McLaren Group shareholders unanimously approve full recapitalisation

TDT | Manama                                                    

The Daily Tribune – www.newsofbahrain.com

McLaren Group Limited (“the Group”) today announces that its shareholders have unanimously approved a full recapitalisation of the Group.

The recapitalisation, which will introduce a simplified share structure and streamlined governance process, represents an important step in the Group’s continued mission to create world-leading supercars, offering a unique and unrivalled luxury customer experience and expanding to new markets and customer groups.

Paul Walsh, McLaren Group Executive Chairman, said: “Completing the recapitalisation is a significant step in the ongoing transformation of the Group and provides a solid platform from which to grow our product offering and brand presence.”

H.E. Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Bahrain Mumtalakat Holding Company, the majority shareholder of the Group, said: "Today's announcement is testament to the diligent steps that have been taken in what is a comprehensive and long-term plan with our partners to deliver an optimal governance structure as the Group continues to design and deliver the world’s most innovative and exhilarating supercars.”