Sosandar PLC Grant of options / PDMR dealing (3246R)

TIDMSOS

RNS Number : 3246R

Sosandar PLC

27 February 2019

Sosandar plc

("Sosandar" or the "Company")

Grant of options / PDMR dealing

Sosandar PLC (AIM: SOS), the online women's fashion brand, announces that on 25 February 2019, the Board granted 837,626 options over ordinary shares of 0.1 pence each in the Company ("Options") under the [Company's share option plan].

543,813 of the Options have been granted to certain members of senior management and 293,813 Options have been granted to James Bowling, the Company's Head of Finance and a PDMR.

50% of the Options granted will vest upon the Company achieving GBP5 million revenue in a 12 month period and 50% upon the Company becoming cash flow positive. The Options have been granted with an exercise price of 29.2p per share and can be excersible if vested for a 10 year period from the date of the grant.

Following the grant of Options, the Company has a total of 20,650,000 options over ordinary shares of 0.1 each in the Company outstanding representing approximately 17.8% of the existing issued share capital of the Company.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the grant of Options to James Bowling:

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                          James Bowling 
     ----------------------------  ------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status               Head of Finance 
     ----------------------------  ------------------------------------- 
 b)   Initial notification          Initial Notification 
       /Amendment 
     ----------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                          Sosandar plc 
     ----------------------------  ------------------------------------- 
 b)   LEI                           2138004313MO7RXAVA37 
     ----------------------------  ------------------------------------- 
 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            Options over ordinary shares of 0.1 
       financial instrument,         pence each in the Company 
       type of instrument 
                                     GB00BDGS8G04 
       Identification code 
     ----------------------------  ------------------------------------- 
 b)   Nature of the transaction     Grant of Options 
     ----------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)          Exercise price   Volume(s) 
                                        of Options 
                                       29.2 pence       293,813 Options 
                                                       ---------------- 
     ----------------------------  ------------------------------------- 
 d)   Aggregated information 
 
 
       - Aggregated volume            N/A - Single transaction 
 
 
       - Price 
     ----------------------------  ------------------------------------- 
 e)   Date of the transaction       25 February 2019 
     ----------------------------  ------------------------------------- 
 f)   Place of the transaction      London Stock Exchange, AIM Market 
                                     (XLON) 
     ----------------------------  ------------------------------------- 
 

Enquiries

 
 Sosandar plc                                  www.sosandar.com 
 Julie Lavington / Ali Hall, Joint                  c/o Alma PR 
  CEOs 
 
 Shore Capital 
  Patrick Castle / Mark Percy / James 
  Thomas                                   [phone] 
 Alma PR Limited (Financial PR)            [phone] 
 Rebecca Sanders-Hewett / Josh Royston    [e-mail] 
  / Susie Hudson / Sam Modlin 
 

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END

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February 27, 2019 10:26 ET (15:26 GMT)