Fishing Republic PLC Board Appointment & Grant of Options (4729G)

TIDMFISH

RNS Number : 4729G

Fishing Republic PLC

02 March 2018

2 March 2018

AIM: FISH

Fishing Republic plc

("Fishing Republic" or the "Company")

Board Appointment and Grant of Options

Fishing Republic, the fishing tackle retailer, is pleased to announce the appointment of Stephen Kyriacou to its Board of Directors as Chief Operating Officer, with immediate effect.

Steve has over 20 years' experience in delivering change management programmes, including for the divisions of major organisations such as Primark, Barclays Bank, Morrisons and BT. He joined the Company in December 2017 from Primark Stores, where he was Programme Director for Oracle Retail and Financials. Since December, he has been co-ordinating the various operational changes put in place following the Company's organisational review, and has been leading the new management team, which is implementing the operational improvement plan.

James Newman, Executive Chairman of Fishing Republic said:

"I am pleased to welcome Steve to the Board as Chief Operating Officer. His extensive operational and commercial experience, particularly in eCommerce and change management, will help to drive the significant changes we are making across the business."

Grant of Options

The Company also announces that it has granted a total of 2,850,000 share options including to the following Directors and Senior Management under the Company's EMI Option Scheme. The options have an exercise price of 10p and vest on the first anniversary following the date of grant provided the grantee is still employed by the Company at that time.

 
 Director/PDMR      Position                 Number of options 
                                                       granted 
 
                    Chief Operating 
 Steve Kyriacou      Officer                         1,000,000 
 
                    Head of Merchandising 
 Jonathan Walker     and Buying                        500,000 
 
 Wayne Cooper       Head of Logistics                  500,000 
 
 Andrew Smith       Head of Retail                     250,000 
 Christopher        Group Financial 
  Rigg               Controller                        250,000 
 
 

Issue of Equity and Total Voting Rights

In addition, the Company announces that it has issued 350,000 ordinary shares at a price of 10p per share for eCommerce consultancy services provided to the Company. An application has been made for the new shares to commence trading on AIM with is expected to occur at 8.00 a.m. on 8 March 2018 ("Admission").

Following Admission, the Company will have 52,206,199 ordinary shares in issue with each share carrying the right to one vote. There are no Ordinary Shares held in treasury. The above figure of 52,206,199 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Further information on Stephen Kyriacou

Stephen Kyriacou, aged 45, is or has been in the last five years a director of the following companies:

 
 Current directorships   Directorships In the past 
                          five years 
 Infinite Options Ltd    WKM4 Limited 
 IPA Limited             Socius People Solutions 
                          (SPS) Ltd 
 

Aside from the options he has been granted, as disclosed above, Mr Kyriacou currently has no further holding in the Company.

There is no further information on Mr Kyriacou to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries:

 
Fishing Republic plc                 T: 020 3178 6378 
 James Newman, Executive              (today) 
 Chairman 
 
KTZ Communications Limited           T: 020 3178 6378 
Katie Tzouliadis, Irene 
 Bermont-Penn, Emma Pearson 
 
Northland Capital Partners           T: 020 3861 6625 
 Limited 
Nominated Adviser and Broker 
Matthew Johnson, Jamie Spotswood, 
 David Hignell (Corporate 
 Finance) 
John Howes (Corporate Broking) 
 
 
1    Details of the person discharging managerial responsibilities/person closely associated 
---  -------------------------------------------------------------------------------------------------------- 
a)   Name                                                                a) Steve Kyriacou 
                                                                          b) Jonathan Walker 
                                                                          c) Wayne Cooper 
                                                                          d) Andrew Smith 
                                                                          e) Christopher Rigg 
---  ------------------------------------------------------------  ------------------------------------------ 
2    Reason for the notification 
---  -------------------------------------------------------------------------------------------------------- 
a)   Position/status                                                     a) Chief Operating Officer 
                                                                          b) Head of Merchandising and Buying 
                                                                          c) Head of Logistics 
                                                                          d) Head of Retail 
                                                                          e) Group Financial Controller 
---  ------------------------------------------------------------  ------------------------------------------ 
b)   Initial notification/ Amendment                               Initial Notification 
---  ------------------------------------------------------------  ------------------------------------------ 
3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
      or auction monitor 
---  -------------------------------------------------------------------------------------------------------- 
a)   Name                                                          Fishing Republic plc 
---  ------------------------------------------------------------  ------------------------------------------ 
b)   LEI                                                           213800MEU3P9317FQZ07 
---  ------------------------------------------------------------  ------------------------------------------ 
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 1p each 
      Identification code                                           GB00BY7RY763 
---  ------------------------------------------------------------  ------------------------------------------ 
b)   Nature of the transaction                                     Grant of Options 
---  ------------------------------------------------------------  ------------------------------------------ 
c)   Price(s) and volume(s)                                        Price(s)  Volume(s) 
                                                                    10p                   a) 1,000,000 
                                                                                           b) 500,000 
                                                                                           c) 500,000 
                                                                                           d) 250,000 
                                                                                           e) 250,000 
---  ------------------------------------------------------------  ------------------------------------------ 
d)   Aggregated information 
  - Aggregated volume                                               2,500,000 
  - Price                                                            10p 
 ----------------------------------------------------------------  ------------------------------------------ 
e)   Date of the transaction                                       1 March 2018 
---  ------------------------------------------------------------  ------------------------------------------ 
f)   Place of the transaction                                      London Stock Exchange, AIM 
---  ------------------------------------------------------------  ------------------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 02, 2018 02:00 ET (07:00 GMT)