29 Apr 2020 12:31
29 April 2020
MySale Group plc
(the "Company", "MySale" or the "Group")
Management Incentive Scheme and Issue of Equity
MySale Group plc (AIM: MYSL) (''the Group''), the leading international online retailer, announces that, as previously communicated on 20 August 2019 and 2 September 2019, the Company has implemented a management incentive scheme (the "Scheme") for its Directors, Non-executive Directors and senior management to align their incentives with the Company's long-term growth strategy following the recent strategic realignment.
This grant of the Scheme will comprise of 30,597,372 Share Awards under the Mysale Loan Share Plan ("Loan Share Plan"). The Company has issued 30,597,372 ordinary shares directly to those directors and PDMR's taking part in the Loan Share Plan. These shares will be used to satisfy the Share Awards, subject to the performance criteria being met.
The exercise of any Share Awards will be subject to the achievement of the applicable vesting conditions during the vesting period.
On the sale of a Share Award share, the participant is entitled to the sale proceeds in excess of the exercise price per share. This permits holders of Share Awards to benefit from the growth in value of an Ordinary Share above the Share Award exercise price.
The Company has issued Share Awards to a Director and PDMR's as set out in the table below:
Name | Share Award | Number of Ordinary Shares | Vesting period of Share Award | Exercise Price* | Vesting Price | Lock-in period |
Mats Weiss | Loan Share Plan | 12,938,061 | 3 years from issue | 2.428 pence | 50% at 5p 50% at 10p | 3 years from issue |
Kevin Cliffe | Loan Share Plan | 2,695,429 | 3 years from issue | 2.428 pence | 50% at 5p 50% at 10p | 3 years from issue |
Winky Serwana | Loan Share Plan | 2,156,344 | 3 years from issue | 2.428 pence | 50% at 5p 50% at 10p | 3 years from issue |
Gavin Cliffe | Loan Share Plan | 2,695,429 | 3 years from issue | 2.428 pence | 50% at 5p 50% at 10p | 3 years from issue |
Total Voting Rights
Application has been made for admission of 30,597,372 ordinary shares to trading on AIM, with an anticipated admission date of 6 May 2020. Following admission of the shares the Company's total issued share capital will be 847,838,225 Ordinary Shares.
There are 7,542,614 shares held in treasury therefore, the total number of voting rights in the Company is 840,295,611. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
MySale Group Plc
Carl Jackson, Chief Executive Officer | +61 (0) 414 817 843 |
Mats Weiss, Chief Financial and Operations Officer | +61 (0) 403 810 762 |
N+1 Singer (Nomad and Broker) +44 (0) 20 7496 3000
Mark Taylor
Justin McKeegan
MHP Communications (Financial PR Adviser) +44 (0) 20 3128 8570
Simon Hockridge
Giles Robinson
Pete Lambie
The information contained within this announcement is deemed to constitute inside information for the purposes of article 7 of the Market Abuse Regulation (EU) no. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Mats Weiss | |
2 | Reason for the notification | ||
a) | Position/status | Chief Financial and Operations Officer (PDMR) | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | MySale Group plc | |
b) | LEI | 213800BXZGPMK9JIXO84 | |
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
| (i) Ordinary Shares held in a loan share plan
JE00BMH4MR96 | |
b) | Nature of the transaction | (i) Grant of conditional ownership in loan share plan | |
c)
| Price(s) and volume(s)
| Price | Volume |
(i) 2.428p
| (i) 12,938,061
| ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 28 April 2020 | |
f) | Place of the transaction | Off market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Kevin Cliffe | |
2 | Reason for the notification | ||
a) | Position/status | Trading Director (PDMR) | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | MySale Group plc | |
b) | LEI | 213800BXZGPMK9JIXO84 | |
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
| (i) Ordinary Shares held in a loan share plan
JE00BMH4MR96 | |
b) | Nature of the transaction |
(i) Grant of conditional ownership in loan share plan | |
c)
| Price(s) and volume(s)
| Price | Volume |
(i) 2.428p | (i) 2,695,429 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 28 April 2020 | |
f) | Place of the transaction | Off market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Winky Sarwana | |
2 | Reason for the notification | ||
a) | Position/status | Group Financial Controller (PDMR) | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | MySale Group plc | |
b) | LEI | 213800BXZGPMK9JIXO84 | |
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
| (i) Ordinary Shares held in a loan share plan
JE00BMH4MR96 | |
b) | Nature of the transaction | (i) Grant of conditional ownership in loan share plan | |
c)
| Price(s) and volume(s)
| Price | Volume |
(i) 2.428p
| (i) 2,156,344
| ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 28 April 2020 | |
f) | Place of the transaction | Off market transaction | |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||
a) | Name | Gavin Cliffe | |
2 | Reason for the notification | ||
a) | Position/status | CTO (PDMR) | |
b) | Initial notification /Amendment | Initial | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | MySale Group plc | |
b) | LEI | 213800BXZGPMK9JIXO84 | |
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
| (i) Ordinary Shares held in a loan share plan
JE00BMH4MR96 | |
b) | Nature of the transaction | (i) Grant of conditional ownership in loan share plan | |
c)
| Price(s) and volume(s)
| Price | Volume |
(i) 2.428p | (i) 2,695,429 | ||
d)
| Aggregated information
- Aggregated volume
- Price
| N/A | |
e) | Date of the transaction | 28 April 2020 | |
f) | Place of the transaction | Off market transaction | |