TIDMITS

RNS Number : 3083N

In The Style Group PLC

31 May 2022

31 May 2022

In The Style Group Plc

(the "Company" or the "Group")

Surrender and Issue of Options and Director/PDMR Notification

In The Style announces that it has completed a restructure of its long-term management incentive scheme. Through the restructure:

- a total of 637,500 options ("Options") over the Company's ordinary shares of GBP0.0025 each ("Ordinary Shares"), which were granted in March 2021 and have an exercise price of GBP2.00, were surrendered (the "Surrendered Options"). Of these, 375,000 options were surrendered by John Allen (CTO), a PDMR; and

- a total of 1,818,750 new Options over Ordinary Shares were issued to Directors and Senior Management under the existing EMI Scheme adopted on 9 March 2021 ("Options Issued"), of which:

o 637,500 Options were issued to employees in lieu of the Surrendered Options;

o 1,050,000 new Options were issued to employees who have joined the Company post IPO and are being awarded Options for the first time, including Richard Monaghan, CFO; and

o 131,250 new Options were issued to longer serving employees

The Options Issued have an exercise price of GBP0.875, which is the closing mid-market price of the Company's existing Ordinary Shares on 27 May 2022, the latest practicable date prior to the issue of the Options.

The Options Issued will vest in tranches of one third on the first, second and third anniversary of the date of issue and expire 10 years from the date of issue. Vesting or exercise of the Options Issued is not dependent on performance criteria and none of the Options Issued can be exercised until the third anniversary of the date of issue.

Of the Options Issued:

   -     525,000 Options were issued to Richard Monaghan, following his appointment in March 2022; and 
   -     375,000 Options were issued to John Allen, CTO. 

Following the surrender and issue, the total number of Ordinary Shares outstanding under all Group EMI option schemes is 3,664,583, representing 7.0 per cent. of the Company's issued share capital.

ENDS

Enquiries

 
 In The Style Group plc                Via Hudson Sandler 
  Jim Sharp, Non-Executive Chairman 
 Liberum Capital Limited (Nomad 
  and Broker) 
  Clayton Bush 
  Scott Mathieson 
  Ed Thomas 
  Miquela Bezuidenhoudt                +44 (0)20 3100 2000 
 Hudson Sandler                        +44(0)20 7796 4133 
  Alex Brennan                          inthestyle@hudsonsandler.com 
  Lucy Wollam 
  Jake Brown 
 

Notes to Editors

In The Style is a fast-growing digital womenswear fashion brand with an innovative social media influencer collaboration model.

Founded in 2013 by entrepreneur Adam Frisby, the brand champions female empowerment, inclusivity, body positivity and real beauty.

The brand's innovative and highly adaptable influencer collaboration model, which sees it work with influencers on a long-term basis to collaboratively design, develop and promote branded collections, differentiates it from competitors.

In The Style currently partners with a stable of more than 15 social media influencers, including Stacey Solomon, Dani Dyer, Jacqueline Jossa and Billie Faiers. Together they enjoy a combined global social media reach of almost 30m followers

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         Richard Monaghan 
     --------------------------  -------------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------------ 
 a)   Position/status             Chief Financial Officer 
     --------------------------  -------------------------------------------- 
 b)   Initial notification        Initial Notification 
       /Amendment 
     --------------------------  -------------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a)   Name                        In The Style Group Plc 
     --------------------------  -------------------------------------------- 
 b)   LEI                         2138007SBFARUPP3OP60 
     --------------------------  -------------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------ 
 a)   Description of the 
       financial instrument,        Options over Ordinary shares of GBP0.0025 
       type of instrument           each 
 
       Identification code          ISIN: GB00BMXMR838 
     --------------------------  -------------------------------------------- 
 b)   Nature of the transaction   Grant of share options under the 
                                   Company's EMI Scheme 
     --------------------------  -------------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)         Volume(s) 
                                          GBP0.875    525,000 
                                                     ---------- 
     --------------------------  -------------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          N/A 
       - Price                      GBP0.875 
     --------------------------  -------------------------------------------- 
 e)   Date of the transaction     30 May 2022 
     --------------------------  -------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  -------------------------------------------- 
 
 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                         John Allen 
     --------------------------  -------------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------------ 
 a)   Position/status             Chief Technology Officer 
     --------------------------  -------------------------------------------- 
 b)   Initial notification        Amendment 
       /Amendment 
     --------------------------  -------------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------ 
 a)   Name                        In The Style Group Plc 
     --------------------------  -------------------------------------------- 
 b)   LEI                         2138007SBFARUPP3OP60 
     --------------------------  -------------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------ 
 a)   Description of the 
       financial instrument,        Options over Ordinary shares of GBP0.0025 
       type of instrument           each 
 
       Identification code          ISIN: GB00BMXMR838 
     --------------------------  -------------------------------------------- 
 b)   Nature of the transaction   Grant of share options under the 
                                   Company's EMI Scheme 
     --------------------------  -------------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)        Volume(s) 
                                          GBP2.00    375,000 surrendered 
                                                    -------------------- 
                                          GBP0.875   375,000 issued 
                                                    -------------------- 
     --------------------------  -------------------------------------------- 
 d)   Aggregated information 
 
       - Aggregated volume          N/A 
       - Price                      GBP0.875 
     --------------------------  -------------------------------------------- 
 e)   Date of the transaction     30 May 2022 
     --------------------------  -------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  -------------------------------------------- 
 

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END

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(END) Dow Jones Newswires

May 31, 2022 02:01 ET (06:01 GMT)

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