21 Jun 2018 16:55
Footasylum plc
("Footasylum" or the "Company")
Grant of special LTIP award to Executive Chairman
21 June 2018: Footasylum, the UK-based fashion retailer focussing on branded footwear and apparel, announces that, on 21 June 2018, in line with the intention set out in the Company's Admission Document dated 2 November 2017, the Remuneration Committee of the Company's Board granted a one-off award to Barry Bown under the Footasylum plc Long Term Incentive Plan ("LTIP") following his appointment as Executive Chairman (the "Special Award").
The Special Award is structured as an option to acquire 2,531,645 ordinary shares of £0.001 each in the Company ("Ordinary Shares") at a price of £0.001 per Ordinary Share. It has a market value of £2.0 million, calculated by reference to the mid-market closing price of an Ordinary Share on 20 June 2018, the business day prior to the grant. The Special Award will vest on 21 June 2021 and is subject to Barry Bown's ongoing employment with the Company. The Special Award has a post vesting holding period of two years.
The Company's Admission Document can be found at http://investors.footasylum.com/
For further information, please contact:
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Footasylum Nancy Kelsall (Company Secretary)
| Tel: +44 (0) 1706 746 777 |
GCA Altium Limited (Financial Adviser & Nominated Adviser) Phil Adams Sam Fuller
| Tel: +44 (0) 20 7484 4040 |
Liberum Capital Limited (Broker) John Fishley Jill Li
| Tel: +44 (0) 20 3100 2222 |
Powerscourt (Financial Public Relations) Rob Greening Lisa Kavanagh Isabelle Saber | Tel: +44 (0) 20 7250 1446 |
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About Footasylum
Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets. The Company retails "on-trend" product ranges which are predominantly aimed at 16 to 24-year-old fashion-conscious consumers and are sourced from an extensive stable of third-party and own brands. These include well-known sports and casual footwear and apparel brands, as well as up-and-coming brands and own label products.
Examples of third-party brands include: adidas; Nike; The North Face; Gym King; Converse; New Balance; EA7; Vans; Nicce London; Under Armour; Tommy Hilfiger; and Calvin Klein. Examples of Footasylum's own brands include: Kings Will Dream and Alessandro Zavetti.
The Company operates a multi-channel model which combines a 65-strong store estate - in a variety of high street, mall and retail park locations in cities and towns throughout Great Britain - with a fast-growing online platform and a recently launched wholesale arm for distributing its own brand ranges via a network of partners.
Footasylum was founded in 2005 and the Company's ordinary shares were admitted to trading on AIM in November 2017.
The Company publicly discloses the following PDMR notification pursuant to the Market Abuse Regulation (EU) No. 596/2014.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Barry Bown | ||||
2 | Reason for the notification | |||||
a) | Position/status: | Executive Chairman | ||||
b) | Initial notification/Amendment: | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | Footasylum plc | ||||
b) | LEI: | 2138001JV9DY7H8RWE60 | ||||
4 | Details of the transaction(s): section to be repeated 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, type of instrument: Identification code: | Ordinary Shares GB00BYPHD607 | ||||
b) | Nature of the transaction: | Grant of an award structured as an option to acquire Ordinary Shares. | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: Aggregated volume: Price: | Transactions as set out in 4 c) above
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e) | Date of the transaction: | 21 June 2018. | ||||
f) | Place of the transaction: | Outside a trading venue. | ||||