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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mysale Group Plc | LSE:MYSL | London | Ordinary Share | JE00BMH4MR96 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.255 | 1.51 | 3.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMYSL
RNS Number : 5817V
MySale Group PLC
31 January 2017
Issuance of Equity under Joint Share Ownership Plan
MySale Group Plc (AIM: MYSL) (the "Company") the leading online retailer, announces that on 30 January 2017, the Company issued 3,000,000 ordinary shares to MySale Group Trustee Limited, in its capacity as the trustee of the MySale Group Plc Employee Benefit Trust ("EBT"). This issue is in accordance with the terms of the Company's Joint Share Ownership Plan (the "Plan") ("JSOP Shares") which provides long-term performance-related incentives to employees and to assist with the retention of key employees. The subscription moneys for these shares have been satisfied in cash advanced to the EBT by the Company in accordance with the terms of the Plan.
The beneficial interest in JSOP Shares is jointly held between the relevant employee or director and the EBT, which was established by the Company as part of its remuneration arrangements in the UK. These JSOP Shares are intended to be used in the future to satisfy the exercise of option rights by the relevant employee or director. The exercise of any options rights will be subject to achievement of the performance conditions applicable to those options.
On sale of a JSOP Share, the participant is entitled to the sale proceeds in excess of the exercise price per share. The EBT is entitled to the balance of the sale proceeds. This permits holders of JSOP Shares to benefit from the growth in value of an Ordinary Share above the option's exercise price.
This initial tranches of JSOP Shares may be used to cover potential future obligations arising in relation to the option awards for Iain McDonald, the Chairman of the Company, which were previously announced at the date of his appointment on 27 July 2015. The exercise price of these tranches is 53p (being the price of the Ordinary Shares at the date of the option award) and Mr McDonald will therefore only benefit from the increase in value of the JSOP Shares above this price. The JSOP shares over which Mr McDonald has his options are subject to the performance conditions and durations as set out below:
Tranche Number of Options Duration of Options Exercise Price Performance Condition to Vesting -------- ------------------ -------------------- --------------- --------------------------------- 1 1,000,000 5 years from issue 53 pence Share price reaches 150p -------- ------------------ -------------------- --------------- --------------------------------- 2 1,500,000 5 years from issue 53 pence Share price reaches 226p -------- ------------------ -------------------- --------------- --------------------------------- 3 500,000 5 years from issue 53 pence Share price reaches 275p -------- ------------------ -------------------- --------------- ---------------------------------
Application has been made to AIM, a market of the London Stock Exchange plc, for the admission of the 3,000,000 Ordinary Shares on 6 February 2017.
Following admission of the JSOP Shares, the Company's total issued share capital will be 154,331,652 Ordinary Shares. There are 3,000,000 JSOP Shares currently held jointly by the EBT and participants for the purposes of the Plan in relation to which all voting rights have been waived.
Therefore, the total number of voting rights in the Company is 151,331,652. 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.
Enquiries:
MySale Group plc Carl Jackson, Chief Executive +61 (0) 414 817 Officer 843 Graeme Burns, Corporate Development +44 (0) 777 585 Director 4516 Zeus Capital Limited (Nominated +44 (0) 20 3829 Adviser & Joint Broker) 5000 Nick How/Giles Balleny, Corporate Finance Benjamin Robertson, Corporate Broking +44 (0) 20 7496 N+1 Singer (Joint Broker) 3000 Nic Hellyer +44 (0) 20 7379 Maitland 5151 Dan Yea
About MySale Group
MySale is a leading international online retailer with established online flash sales and retail websites in Australia, New Zealand, South-East Asia and the United Kingdom. Founded in 2007, the Group provides customers with access to outstanding brands and products at discounted prices whilst simultaneously providing brand partners unique international inventory and sales solutions.
The Group's flash sales websites host time limited sales in each of its territories. These flash sales are focused on fashion, apparel, health, beauty and homeware categories and are predominantly undertaken on a consignment inventory basis. The retail websites operate in Australia and focus on similar product categories using mostly drop-shipped inventory.
Customers' shopping experiences are enhanced by the Group's deployment of leading edge technology to ensure personalised and localised product offerings. Customer convenience has been at the heart of the Group's technology development since the earliest days and now mobile commerce is the Group's main sales channel.
The Group's online sales are supported by a robust and flexible network of in-house supply chain infrastructure and technology that enables MySale to offer products from around the world for sale and delivery to customers in each territory.
As a result of these exceptional capabilities in inventory management and international sales MySale has built an enviable portfolio of over 2,500 brand partners from whom products are sourced.
The Group operates websites under a number of different brands all of which operate on a uniform technology platform and a single international logistics infrastructure.
The Group's flash sales brands are; OzSale and BuyInvite in Australia; NzSale in New Zealand; SingSale in Singapore; MySale in Australia, New Zealand Malaysia, Thailand, the Philippines, the United Kingdom and Hong Kong, and Cocosa in the United Kingdom, Australia and New Zealand; whilst the Group's retail websites are Deals Direct, OO.com and Top Buy in Australia.
1 Details of the person discharging managerial responsibilities/person closely associated ---- ---------------------------------------------------------------------------------------------------------------- a) Name Iain McDonald ---- ------------------------------------------------------- ------------------------------------------------------- 2 Reason for the notification ---- ---------------------------------------------------------------------------------------------------------------- Non-executive Chairman a) Position/status ---- ------------------------------------------------------- ------------------------------------------------------- b) Initial notification/Amendment Initial Notification ---- ------------------------------------------------------- ------------------------------------------------------- 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 Ordinary Shares held in Joint Share Ownership Plan instrument ISIN: JE00BMH4MR96 Identification code ---- ------------------------------------------------------- ------------------------------------------------------- b) Nature of the transaction Grant of a conditional joint ownership interest in ordinary shares ---- ------------------------------------------------------- ------------------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) ---------- ---------- N/A 3,000,000 ---------- ---------- ---- ------------------------------------------------------- ------------------------------------------------------- d) Aggregated information Price(s) Volume(s) ---------- ---------- N/A 3,000,000 ---------- ---------- ---- ------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 January 2017 ---- ------------------------------------------------------- ------------------------------------------------------- f) Place of the transaction N/A ---- ------------------------------------------------------- -------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
January 31, 2017 04:15 ET (09:15 GMT)
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