REG - Naked Wines PLC - Grant of LTIP awards

Naked WinesAnnouncement

02/04/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240402:nRSB8977Ia&default-theme=true

RNS Number : 8977I  Naked Wines PLC  02 April 2024

2 April 2024

 

Naked Wines plc

("Naked Wines" or "Company")

 

Grant of LTIP awards

 

The Company issued awards on April 1 2024 under the rules of its 2016 LTIP
scheme, in the form of nil-cost Restricted Stock Units ("RSUs"), over
4,749,864 shares, equivalent to approximately 6.5% of current issued share
capital. Acceptance of the awards requires staff members with outstanding RSUs
and options (whether vested or unvested) under the 2021 and 2022 issuances to
forfeit these awards. The award has been made following consultation with
major shareholders.

 

If the award is fully accepted, and with previous outstanding LTIP awards
forfeited, the total number of shares outstanding under employee share awards
would be 4,749,864, vs 2,994,975 at end FY23, a net increase of 1,754,889
equivalent to approximately 2.4% of current issued share capital.

 

Every full time employee has been provided an award. The awards will vest
solely based on continued employment of the employee after a period of three
years.

 

Executive directors have been granted the following awards, subject to forfeit
of historic awards as stated.

 

 Name            Role  Shares awarded  Historic awards requiring forfeit
 Rodrigo Maza    CEO   256,797         0
 James Crawford  CFO   204,192         167,344

 

The board recognises the award is unusual, but felt it merited given:

1.     The award is to all staff, following a significant reduction in
headcount, to recognise the additional workload this has placed on them and
incentivise retention; and

2.     The need to secure talent in critical senior roles.

 

The dilution impact to shareholders has been reduced through requiring staff
to give up historic awards in accepting this arrangement, as well certain
historic awards lapsing as a result of recent headcount reductions.

 

For further information, please contact:

 

Naked Wines plc

Rowan Gormley, Chairman

James Crawford, Chief Financial Officer

Catherine
Miles
                           IR@nakedwines.com
(mailto:IR@nakedwines.com)

 

Investec (NOMAD & Joint Broker)

David Flin / Ben
Farrow
Tel: 0207 597 5970

 

Jefferies (Joint Broker)

Ed Matthews / Gill
O'Driscoll
Tel: 0207 029 8000

 

Instinctif (Financial PR)

Guy Scarborough / Damian
Reece
Tel: 07917 178 920 / 07931 598 593

 

About Naked Wines plc

 

Naked Wines connects everyday wine drinkers with the world's best independent
winemakers.

 

Why? Because we think it's a better deal for everyone. Talented winemakers get
the support, funding and freedom they need to make the best wine they've ever
made. The wine drinkers who support them get much better wine at much better
prices than traditional retail.

 

It's a unique business model. Naked Wines customers (who we call Angels)
commit to a fixed prepayment each month which goes towards their next
purchase. In turn. Naked funds the production costs for winemakers, generating
savings that are passed back to its customers. It creates a virtuous circle
that benefits both wine drinker and winemaker.

 

Our mission is to change the way the whole wine industry works for the better.
In the last financial year we served more than 792,000 Angels in the US, UK
and Australia, making us a leading player in the fast-growing
direct-to-consumer wine market.

 

Our customers have direct access to 293 of the world's best independent
winemakers making over 2,000 quality wines in 22 different countries. We
collaborate with some of the world's best independent winemakers like Matt
Parish (Beringer, Stags' Leap) and eight-time Winemaker of the Year Daryl
Groom (Penfolds Grange).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHVFLFBZZLBBBK