Another 34 Million shares to be issued26 Jan 2023 11:31
An application has been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange plc ("LSE") for 33,880,623 ordinary voting shares of £0.005 each ("Ordinary Shares") to be admitted to trading on the LSE and to be admitted to the FCA's Official List. Admission of the Ordinary Shares is expected to become effective on 27 January 2023.
The Ordinary Shares are being issued to VG Corporate Trustee Limited, acting as trustee of the THG Employee Benefit Trust.
Consistent with the Company's strong track record of incentivising employees, and in order to continue to attract and retain world-class talent, awards are being made to certain key employees below Executive level, which are subject to the achievement of various targets. Subject to the satisfaction of such targets, a third of the Ordinary Shares are expected to vest on 31 December in each of 2023, 2024 and 2025.
When issued, these Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.