Lindex Group Oyj (HLSE:LINDEX) announced update on investigate strategic alternatives for the Stockmann department stores business. Susanne Ehnbåge, Chief Executive Officer said that ?During the first quarter, we progressed well with strategy implementation in both divisions. On 21 March 2024, our Annual General Meeting made the decision to change the parent company?s name from Stockmann plc to Lindex Group plc.

The name change reflects the Lindex division?s strengthened role in the Group?s business and emphasises that the Group has moved on to a new strategic phase where it aims to further grow shareholder value. The parent company?s name change was part of a strategic assessment aiming to crystallise shareholder value by refocusing the Group?s business on Lindex. The Group continues to investigate strategic alternatives for the Stockmann department stores business, and we expect to finalise the assessment in 2024.

We also aim to end our restructuring process as soon as possible. After the review period, we reached a settlement agreement with Nordika II SHQ Oy, which means that there is only one disputed claim left?. In September 2023, Lindex Group initiated a strategic assessment aiming to crystallise shareholder value by refocusing the Group's business on Lindex.

As part of the assessment, the Group changed its parent company name from Stockmann plc to Lindex Group plc, as decided by the annual general meeting on 21 March 2024. The Group continues to investigate strategic alternatives for the Stockmann department stores business. Lindex Group expects the strategic assessment to be finalised during 2024 and will provide an update on the assessment if, and when, appropriate.