Koovs PLC Awards to Directors (9884C)

TIDMKOOV

RNS Number : 9884C

Koovs PLC

01 July 2016

1 July 2016

Koovs plc

Awards to Directors

Koovs plc (the "Company") (AIM: KOOV.L) announces that it has today granted options over ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") to the following directors:

   Mary Turner, Chief Executive Office                7,484,185 Ordinary Shares 
   Gail Rebuck, Non-Executive Director               374,209 Ordinary Shares 
   Emily Sheffield, Non-Executive Director         374,209 Ordinary Shares 

These share options were awarded with an exercise price of 53.5 pence per Ordinary Share and will vest on 1 July 2021 subject to continued employment with the Company. The options previously granted to these directors on 4 March 2014 (Gail Rebuck and Emily Sheffield) and 29 July 2014 (Mary Turner), all with an exercise price of 150p, have been cancelled.

Waheed Alli, Chairman, commented:

"At 53.5p per share, the realignment of the share options will see the senior management team's economic interests realigned with those of the shareholders. I believe we are well placed to ensure that the Company will continue to deliver on its ambition to be India's leading western fashion destination as India benefits from its significant economic growth."

 
 
   For further information, 
   please contact: 
 Koovs plc                    Tel: [phone] 
  Waheed Alli                  0170 
 
   Peel Hunt LLP 
 Dan Webster                  Tel: [phone] 
  George Sellar                8900 
  Adrian Trimmings 
  Jock Maxwell Macdonald 
  (ECM) 
 
   Brunswick Group LLP 
 Nick Claydon / Alison        Tel: [phone] 
  Kay                          5959 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 01, 2016 07:00 ET (11:00 GMT)