No vote for Marchpole purchase

The British clothing group Marchpole has said that a shareholder vote on the purchase of Moda America will not be necessary due to a change in listing rules. The company said that buying Moda would allow it to launch its Emanuel Ungaro and Ungaro collections in North America and would give it worldwide reach with Moda's infrastructure. The acquisition will also launch the diffusion Emanuel collection in the UK and in Eire from Spring Summer 2007.

"Strategically the acquisition of Moda America LLC is the right stepping stone for Marchpole, and establishes for the Company a strong presence in the significant US market," said Marchpole chief executive Greg Tufnell in a statement.