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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