Online fashion retailer Boohoo has given shares to more than 1,100 of its employees, including several members of its senior leadership.
The Manchester-headquartered group released a statement to the London Stock Exchange, stating that the move was part of its Save As You Earn (SAYE) share scheme for 2022.
A total of 1,166 eligible employees were elected to participate in the scheme and invited to subscribe for options over ordinary shares of 1 pence each in the group with an exercise price of 30p, representing a 17.16% discount to the closing middle market price of the ordinary shares on 7 October.
They were issued a total of 32.2 million options over ordinary shares, which equates to 2.54% of the current issued share capital in Boohoo. The options have a contract start date of 1 December 2022 and are exercisable between 1 December 2025 and 31 May 2026.
Chief executive John Lyttle, chief financial officer Shaun McCabe and director Neil Catto have participated in the SAYE scheme this year and are included in the total figures above.
Their individual option grants as part of the scheme are 60,000 shares each, resulting in Lyttle holding 68,297 shares, or 0.25% of the issued share capital, McCabe holding 60,000 shares, or 0.26%, and Catto holding 68,297 shares, or 0.17%. Lyttle and Catto also own shares outside of the scheme.
Boohoo said in its statement: “The scheme is open to all employees, giving them the opportunity to participate in the future growth of the company via share option arrangements.”
