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
DSHFLFLDESIIVIF
(END) Dow Jones Newswires
May 31, 2022 02:01 ET (06:01 GMT)
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