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Intertek Group PLC Remuneration Information 2022
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 3083N
In The Style Group PLC
31 May 2022
31 May 2022
In The Style Group Plc
(the "Company" or the "Group")
Surrender and Issue of Options and Director/PDMR Notification
In The Style announces that it has completed a restructure of its long-term management incentive scheme. Through the restructure:
- a total of 637,500 options ("Options") over the Company's ordinary shares of £0.0025 each ("Ordinary Shares"), which were granted in March 2021 and have an exercise price of £2.00, were surrendered (the "Surrendered Options"). Of these, 375,000 options were surrendered by John Allen (CTO), a PDMR; and
- a total of 1,818,750 new Options over Ordinary Shares were issued to Directors and Senior Management under the existing EMI Scheme adopted on 9 March 2021 ("Options Issued"), of which:
o 637,500 Options were issued to employees in lieu of the Surrendered Options;
o 1,050,000 new Options were issued to employees who have joined the Company post IPO and are being awarded Options for the first time, including Richard Monaghan, CFO; and
o 131,250 new Options were issued to longer serving employees
The Options Issued have an exercise price of £0.875, which is the closing mid-market price of the Company's existing Ordinary Shares on 27 May 2022, the latest practicable date prior to the issue of the Options.
The Options Issued will vest in tranches of one third on the first, second and third anniversary of the date of issue and expire 10 years from the date of issue. Vesting or exercise of the Options Issued is not dependent on performance criteria and none of the Options Issued can be exercised until the third anniversary of the date of issue.
Of the Options Issued:
- 525,000 Options were issued to Richard Monaghan, following his appointment in March 2022; and
- 375,000 Options were issued to John Allen, CTO.
Following the surrender and issue, the total number of Ordinary Shares outstanding under all Group EMI option schemes is 3,664,583, representing 7.0 per cent. of the Company's issued share capital.
ENDS
Enquiries
| In The Style Group plc Jim Sharp, Non-Executive Chairman |
Via Hudson Sandler |
| Liberum Capital Limited (Nomad and Broker) Clayton Bush Scott Mathieson Ed Thomas Miquela Bezuidenhoudt |
+44 (0)20 3100 2000 |
| Hudson Sandler Alex Brennan Lucy Wollam Jake Brown |
+44(0)20 7796 4133 [email protected] |
Notes to Editors
In The Style is a fast-growing digital womenswear fashion brand with an innovative social media influencer collaboration model.
Founded in 2013 by entrepreneur Adam Frisby, the brand champions female empowerment, inclusivity, body positivity and real beauty.
The brand's innovative and highly adaptable influencer collaboration model, which sees it work with influencers on a long-term basis to collaboratively design, develop and promote branded collections, differentiates it from competitors.
In The Style currently partners with a stable of more than 15 social media influencers, including Stacey Solomon, Dani Dyer, Jacqueline Jossa and Billie Faiers. Together they enjoy a combined global social media reach of almost 30m followers
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Monaghan
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
In The Style Group Plc
b)
LEI
2138007SBFARUPP3OP60
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
Identification code
Options over Ordinary shares of £0.0025 each
ISIN: GB00BMXMR838
b)
Nature of the transaction
Grant of share options under the Company's EMI Scheme
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| £0.875 | 525,000 |
d)
Aggregated information
- Aggregated volume
- Price
N/A
£0.875
e)
Date of the transaction
30 May 2022
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
John Allen
2
Reason for the notification
a)
Position/status
Chief Technology Officer
b)
Initial notification /Amendment
Amendment
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
In The Style Group Plc
b)
LEI
2138007SBFARUPP3OP60
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
Identification code
Options over Ordinary shares of £0.0025 each
ISIN: GB00BMXMR838
b)
Nature of the transaction
Grant of share options under the Company's EMI Scheme
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| £2.00 | 375,000 surrendered |
| £0.875 | 375,000 issued |
d)
Aggregated information
- Aggregated volume
- Price
N/A
£0.875
e)
Date of the transaction
30 May 2022
f)
Place of the transaction
Outside a trading venue
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