Manchester-based online fashion firm Boohoo Group is seeking assurances from Mike Ashley’s Frasers Group, the company’s largest shareholder which is pushing for a seat on its board, that it will not try to merge Boohoo with a rival.

The statement comes a day after Frasers’ made a public request for shareholder approval on any disposals Boohoo plans to make as it conducts a strategic review. Frasers’ owner Ashley has assailed Boohoo’s management and put himself forward to be CEO, a move which Boohoo ignored. 

Boohoo said it is willing to discuss a board seat for a Frasers representative, but would require undertakings from Frasers that its nominated director has no involvement in the commercial decision making of any competitor of Boohoo.

It has also asked for, among other things, a statement from Frasers that it has no intention to make an offer for the company or to purchase any of its assets, seek to merge Boohoo with a competitor, or “take any action which might reasonably be expected to result in Boohoo being unable to operate as an independent business.”

“While it remains willing to discuss board representation with Frasers in a constructive manner, it has been clear with Frasers that it will only offer a seat for an appropriate non-executive director and that before any appointment can be made, appropriate governance controls will be required to protect the Company’s commercial position and the interests of all other shareholders,” Boohoo said in a statement. 

“Boohoo has repeatedly sought assurances from Frasers in this regard and none have been provided. Boohoo has also repeatedly asked for, and has been promised, non-public information in relation to Mike Ashley’s interests and role in competing businesses. This information has not yet been provided either.”