Last checked at 12 Oct 2009 07:00
Mulberry Group plc
Additional Listing, Grants under Deferred Bonus Plan and Co-ownership Plan and TVR
Additional Listing
Mulberry Group plc ("Mulberry" or the "Company") announces that 1,450,000 new ordinary shares of 5 pence each in the Company ("Ordinary Shares") have been allotted and issued to the Mulberry Group plc Employee Benefit Trust (the "EBT") at a price of 5 pence per Ordinary Share.
These new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue.
Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to AIM and it is expected that admission will take place on 14th October 2009.
Deferred Bonus Plan grants
The Company today granted deferred Ordinary Shares under Mulberry's Deferred Bonus Plan at a price of 121.5 pence per Ordinary Share. These grants relate to bonus payments awarded to the Directors and key employees in respect of the Company's performance for the financial year ended 31st March 2009. The deferred Ordinary Shares, which are held within the EBT, will vest on 30th June 2011.
The total number of Ordinary Shares subject to these grants are as follows:
| Deferred Ordinary Shares granted under Deferred Bonus Plan today | Total deferred Ordinary Shares granted under Deferred Bonus Plan to date | |
| Godfrey Davis | 14,568 | 24,602 |
| Roger Mather | 12,140 | 16,154 |
| Others key employees | 40,062 | 47,286 |
| Total | 66,770 | 88,042 |
In addition to the grant of deferred Ordinary Shares under the Deferred Bonus Plan, a matching number of nil cost options have been awarded. The options in this grant vest on the 30th June 2011 and are exercisable between 30th June 2011 and 30th June 2019.
| Nil cost options granted today | Total nil cost options granted to date | |
| Godfrey Davis | 14,568 | 24,602 |
| Roger Mather | 12,140 | 16,154 |
| Other key employees | 40,062 | 47,286 |
| Total | 66,770 | 88,042 |
New Co-Ownership Plan
On the 20th August 2009, Mulberry established a Co-Ownership Plan to operate in conjunction with the EBT. This plan is designed to align management and shareholders' interests through rewarding participants for a growth in Mulberry share price above a specified threshold over the 3-year vesting period. For the grant listed below, participants will own an interest in the Ordinary Shares from the date of the award but will only participate in the value to the extent that the Mulberry share price exceeds 20% above the current market price at date of grant of 121.5 pence per Ordinary Share.
The total number of Ordinary Shares subject of these grants are as follows:
| Ordinary Shares granted under Co-Ownership Plan today | Total Ordinary Shares granted under Co-Ownership Plan to date | |
| Godfrey Davis | 300,000 | 300,000 |
| Roger Mather | 250,000 | 250,000 |
| Other key employees | 775,000 | 775,000 |
| Total | 1,325,000 | 1,325,000 |
Total Voting Rights
The issued share capital of the Company following admission of the new Ordinary Shares will be 58,869,505 Ordinary Shares with a nominal value of 5 pence each. No Ordinary Shares are held in treasury. Therefore, the total number of voting rights in Mulberry is 58,869,505.
The figure of 58,869,505 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
| Pelham PR David Wynne-Morgan | Tel: +44 (0) 20 7337 1503 |
| Altium Capital Ben Thorne / Melanie Szalkiewicz | Tel: +44 (0) 20 7484 4040 |