Last checked at 1 Aug 2019 07:00
QUIZ Plc
("QUIZ" or the "Company")
Grant of Options and Director Dealings
QUIZ (AIM: QUIZ), the omni-channel fast fashion brand, announces that the Group's Remuneration Committee and the Board have approved the surrender of certain share options in issue ("Existing Options") and the grant of 1,760,971 options ("New Options") over ordinary shares of 0.3 pence each ("Ordinary Shares") on 31 July 2019 to 89 employees, including Gerard Sweeney, Chief Financial Officer, in order to align incentivisation with current share price levels and pursuant to its Company Share Option Plan and Employee Share Option Plan (the "Option Plans").
The surrender of the Existing Options relates to options over 808,479 Ordinary Shares with an exercise price of 161 pence each and options over 140,350 Ordinary Shares with an exercise price of 188.25 pence. The Existing Options were surrendered for no consideration. Included within the Existing Options surrendered was a total of 196,018 of options over Ordinary Shares previously granted to Gerard Sweeney, Chief Financial Officer, comprising 161,490 options with an exercise price of 161.00 pence and 34,528 options with an exercise price of 188.25 pence. The remaining options surrendered were held by 54 other senior managers and employees.
The New Options granted have a vesting period of three years, a total exercise period of ten years and an exercise of price of 15.75 pence per Ordinary Share (being the closing mid-market price of an Ordinary Share on the dealing day immediately preceding the date of grant).
The grant of New Options comprises options over 180,600 Ordinary Shares to Gerard Sweeney, Chief Financial Officer, and options over 1,580,371 Ordinary Shares in aggregate to 88 other senior managers and employees.
Following the above grants and surrenders:
·; Gerard Sweeney's interest in Ordinary Shares amounts to 12,422 shares representing 0.01% of the issued ordinary share capital of the Company held personally and 180,600 Ordinary Shares under option pursuant to the Options Plans; and
·; The Company has a total of 1,760,971 Ordinary Shares under option and a warrant instrument which allows for 186,335 Ordinary Shares to be subscribed for at 80.50 pence per Ordinary Share. In aggregate, these arrangements relate to 1,947,306 Ordinary Shares representing approximately 1.57% of the issued ordinary share capital of the Company.
The Group's Remuneration Committee believes in order to align incentivisation with current share price levels the issue of these new options ensures that a large number of key employees remain appropriately incentivised to enhance shareholder value.
Enquiries:
QUIZ plc | Via Hudson Sandler |
Tarak Ramzan, Chief Executive Officer Gerry Sweeney, Chief Financial Officer Sheraz Ramzan, Chief Commercial Officer |
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Panmure Gordon (Nominated Adviser and Sole Broker) Ben Thorne / Alina Vaskina / Joanna Langley (Corporate Finance) Erik Anderson (Corporate Broking)
| +44 (0) 207 886 2500 |
Hudson Sandler LLP (Public Relations) | +44 (0) 207 796 4133 |
Alex Brennan / Nelly Akpaka
| quiz@hudsonsandler.com |
Notes:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
About QUIZ:
QUIZ is an omni-channel fast fashion brand, specialising in occasion wear and dressy casual wear. QUIZ delivers a distinct proposition that empowers its fashion forward customers to stand out from the crowd.
QUIZ's buying and design teams constantly develop its own product lines, ensuring the latest glamorous looks at value prices. This fast, flexible supply chain, together with the winning formula of style, quality, value and speed-to-market has enabled QUIZ to grow rapidly into an international brand with more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 22 countries. The Group currently operates 73 standalone stores and 174 concessions in the UK.
QUIZ operates through an omni-channel, fast fashion business model, which encompasses online sales, standalone stores, concessions, international franchises and wholesale arrangements.
To download images please visit: http://www.quizgroup.co.uk/media-download-centre/
For further information:
https://www.quizclothing.co.uk/
http://www.quizgroup.co.uk/
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Gerard Sweeney |
2
| Reason for the notification | |
a)
| Position/status
| Chief Financial Officer |
b)
| Initial notification /Amendment
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| QUIZ plc |
b)
| LEI | 213800A3QTOPTGSTNZ78 |
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
| Ordinary Shares of 0.3p each |
b) | Identification code
| ISIN: JE00BZ00SF59 |
c)
| Nature of the transaction
| Surrender and grant of options over Ordinary Shares |
d)
| Price(s) and volume(s) | Surrender for no consideration of 196,018 options over Ordinary Shares comprising 161,490 options with an exercise price of 161.00 pence and 34,528 options with an exercise price of 188.25 pence. Grant of 180,600 options over Ordinary shares with an exercise price of 15.75 pence.
|
d)
| Aggregated information - Aggregated volume - Price | N/A - single transaction |
e)
| Date of the transaction | 31 July 2019 |
f)
| Place of the transaction | Outside a trading venue |