Withdrawal of Resolution & Surrender of Options

By

Regulatory News | 28 May, 2024

Updated : 14:05

RNS Number : 1285Q
boohoo group plc
28 May 2024
 

 

For Immediate Release

28 May 2024

boohoo group plc

("boohoo" or the "Company")

Withdrawal of AGM Resolution, Surrender of Options and Directors' Dealings

 

boohoo group plc (AIM: BOO) announces that it has decided to withdraw Resolution 3 from the agenda of the Annual General Meeting (AGM) of the Company's shareholders to be held at 10.00am on Thursday, 20 June 2024.

 

Resolution 3 proposed the adoption of the boohoo Incentive Plan (the Incentive Plan). Since publication of the Notice of AGM on 23 May 2024, the Company has engaged with certain shareholders regarding Resolution 3 and has decided not to implement the Incentive Plan at this time. The Company will consider further engagement with shareholders on this matter in the future.

The withdrawal of Resolution 3 does not affect the validity of the Notice of AGM, the proxy form or any proxy votes already submitted in respect of the remaining resolutions to be proposed at the AGM. The numbering of all other proposed resolutions at the AGM remains unchanged. Arrangements for the AGM are unchanged from those previously notified.

The Executive Directors have also opted to waive their entire bonus entitlement for the financial year ended 29 February 2024. The Company has published a restated disclosure of the Directors' single-figure total remuneration for the year ended 29 February 2024 on the Company's website https://www.boohooplc.com/investors/results-centre/year/2024.htm.

 

Following this the directors' interest in Shares is as follows*:

Director

Shares held personally

Shares under option

Shares held under SIP

Shares under option in SAYE

Total interest*

% of issued share capital*

Mahmud Kamani

157,979,880

2,124,856

0

0

160,104,736

12.61

Carol Kane

20,000,000

2,124,856

0

0

22,124,856

1.74

John Lyttle

188,172

3,497,380

4,994

60,000

3,750,546

0.29%

 

* Carol Kane and John Lyttle also have an interest in Shares through the Growth Share Plan as previously announced.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

Further details are set out in the below notification, made in accordance with the requirements of the UK Market Abuse Regulation. 

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mahmud Kamani

2

Reason for the notification

a)

Position/status

Group Executive Chairman

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Boohoo Group plc

b)

LEI

213800SZF3KFCECWY243

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

Ordinary shares of 1p

 

ISIN: JE00BG6L7297

b)

Nature of the transaction

Surrender of Options granted over Ordinary Shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

NIL

1,933,701



d)

Aggregated information

- Aggregated volume

- Price


N/A

e)

Date of the transaction

28 May 2024

f)

Place of the transaction

Outside of a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Carol Kane

2

Reason for the notification

a)

Position/status

Group Executive Director

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Boohoo Group plc

b)

LEI

213800SZF3KFCECWY243

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

Ordinary shares of 1p

 

ISIN: JE00BG6L7297

b)

Nature of the transaction

Surrender of Options granted over Ordinary Shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

NIL

1,933,701



d)

Aggregated information

- Aggregated volume

- Price


N/A

e)

Date of the transaction

28 May 2024

f)

Place of the transaction

Outside of a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Lyttle

2

Reason for the notification

a)

Position/status

Group CEO

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Boohoo Group plc

b)

LEI

213800SZF3KFCECWY243

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

Ordinary shares of 1p

 

ISIN: JE00BG6L7297

b)

Nature of the transaction

Surrender of Options granted over Ordinary Shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

NIL

1,933,701



d)

Aggregated information

- Aggregated volume

- Price


N/A

e)

Date of the transaction

28 May 2024

f)

Place of the transaction

Outside of a trading venue

 

 

 

 

 

 

Enquiries


boohoo group plc

 




Stephen Morana, Chief Financial Officer

Tel: +44 (0)161 233 2050

Pete Templeton, Group Finance Director

Tel: +44 (0)161 233 2050

Mike Cooper, Head of Investor Relations

Tel: +44 (0)161 233 2050







 

Zeus Capital - Nominated adviser and joint broker


Dan Bate / James Edis

Tel: +44 (0)161 831 1512

Benjamin Robertson

Tel: +44 (0)20 3829 5000







 

Jefferies - Joint broker


Ed Matthews / Harry Le May

Tel: +44 (0)20 7029 8000



 

HSBC - Joint broker


Chloe Ponsonby / James Hopton

Tel: +44 (0)20 7991 8888

 

Headland - Financial PR adviser


Susanna Voyle / Will Smith

Tel: +44 (0)20 3725 7514



               

About boohoo group plc

 

"Leading the fashion eCommerce market"

 

Founded in Manchester in 2006, boohoo group is a fashion forward, inclusive and innovative business. The Group's brands are complementary, vibrant and scalable, delivering inspirational, on-trend fashion to our customers 24/7. The diversity of our brands, including the group's 5 core brands, boohoo, boohooMAN, PrettyLittleThing, Karen Millen and Debenhams, enable us to serve a broad customer base, globally, with a primary focus on the UK and US markets. Since its acquisition in 2021, Debenhams has been transformed from a retailer into a digital marketplace with a capital-light, low-risk operating model and a focus on fashion, beauty as well as home. Boohoo group is concentrated on driving sustainable, profitable growth with technology and automation increasing efficiency across the business.










 


 






 


 




 


 

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