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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Boohoo Group Plc | AQSE:BOO.GB | Aquis Stock Exchange | Ordinary Share | JE00BG6L7297 | Ordinary Share 1p |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 35.50 | 34.00 | 37.00 | 35.50 | 35.50 | 35.50 | 0.00 | 06:57:34 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBOO
RNS Number : 3622E
boohoo group plc
29 June 2023
FOR IMMEDIATE RELEASE 29 June 2023
boohoo group plc
("boohoo")
Statement on Revolution Beauty Group plc's grant of share options
Further to yesterday morning's announcement by Revolution Beauty Group plc ("Revolution Beauty") confirming the grant of nil cost share option awards to Bob Holt, Elizabeth Lake and sixteen other members of the Revolution Beauty management team (the "Free Share Awards"), boohoo demands that Revolution Beauty:
-- publishes the terms of the grant of the Free Share Awards granted to Bob Holt and Elizabeth Lake together with any award letters issued to the relevant individuals on its website without delay; and
-- confirms publicly that the proposed terms of grant of the Free Share Awards were not amended following the announcement by boohoo on 19 June 2023 of its intention to vote against the appointments of Bob Holt and Elizabeth Lake at yesterday's Revolution Beauty annual general meeting.
Despite the Free Share Awards having a dilutive impact of 3.4% on existing Revolution Beauty shareholders, they were not consulted on the Free Share Awards, did not approve its terms, nor approve the appointment of its two main beneficiaries as directors. Those main beneficiaries, Bob Holt and Elizabeth Lake, have only served very short tenures of 8 and 13 months respectively and, based on the closing price of Revolution Beauty yesterday, received approximately GBP2.1m of Free Share Awards, notwithstanding shareholders voting to remove them from office by an overwhelming majority.
The only disclosure Revolution Beauty has made around the terms of the Free Share Awards prior to today's announcement is five sentences hidden in its annual report for the period ended 28 February 2022 published on 26 May 2023. They were not referred to in any public announcement prior to yesterday morning. This all demonstrates a lack of transparency and actions which are self-serving and not in the best interests of shareholders.
-ends-
Enquiries boohoo group plc Shaun McCabe, Chief Financial Officer Tel: +44 (0)161 233 2050 Alistair Davies, Investor Relations Tel: +44 (0)161 233 2050 Mark Mochalski, Investor Relations Tel: +44 (0)20 3239 6289 Clara Melia, Investor Relations Tel: +44 (0)20 3289 5520 Zeus Capital - Nominated adviser and joint broker Dan Bate / James Edis Tel: +44 (0)161 831 1512 Benjamin Robertson Tel: +44 (0)20 3829 5000 Jefferies - Joint broker Ed Matthews / Harry Le May Tel: +44 (0)20 7029 8000 Buchanan - Financial PR adviser boohoo@buchanan.uk.com Richard Oldworth / Toto Berger / Verity Tel: +44 (0)20 7466 Parker 5000
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and innovative global brand targeting young, value-orientated customers, pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7.
In 2017, the group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing and free-thinking brand Nasty Gal. In March 2019, the group acquired the MissPap brand, in August 2019 the Karen Millen and Coast brands and in June 2020 the Warehouse and Oasis brands, all complementary to the group's scalable, multi-brand platform. In January 2021, the group acquired the intellectual property assets of Debenhams, with the goal of transforming a leading UK fashion and beauty retailer into a digital department store and marketplace through a new capital-light and low-risk operating model. In February 2021, the group acquired the intellectual property assets of UK brands Dorothy Perkins, Wallis and Burton. As at 28 February 2023, the boohoo group had 18 million active customers across all its brands around the world.
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STREASKNADDDEEA
(END) Dow Jones Newswires
June 29, 2023 02:00 ET (06:00 GMT)
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