FDL Findel Plc

TIDMSTU

RNS Number : 3120H

Studio Retail Group PLC

03 August 2021

Studio Retail Group plc

("Company")

Proposed Issue of Ordinary Shares to the EBT

Studio Retail Group plc confirms it has been notified by the Trustees of The Fine Art Developments Employee Trust ("EBT") that the EBT has subscribed for 145,000 ordinary shares of 10 pence each in the capital of the Company ("New Ordinary Shares") at their nominal value and at an aggregate cost to the EBT of GBP14,500. The Company's subsidiary Studio Retail Limited has agreed to lend GBP14,500 to the EBT to fund its subscription for the New Ordinary Shares.

The EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries ("Group"), including the executive directors of the Company. The New Ordinary Shares are intended to be used by the EBT to satisfy requests received from directors and employees of the Group to exercise awards previously granted under the Company's Performance Share Plan 2016.

The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company. It is anticipated that the New Ordinary Shares will be admitted to listing on the premium listing segment of the Financial Conduct Authority's ("FCA") Official List and to trading on the London Stock Exchange's Main Market for listed securities on or around 6 August 2021 ("Admission"). Completion of the allotment of the New Ordinary Shares to the EBT will take place on Admission.

Following Admission, the Company's issued share capital will comprise 87,012,534 ordinary shares of 10 pence each and the Company does not hold any shares in treasury. Therefore, shareholders should use this number as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Tulchan Communications LLP

Sunni Chauhan

Will Palfreyman

020 7353 4200

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(END) Dow Jones Newswires

August 03, 2021 02:00 ET (06:00 GMT)

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