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REG - Sosandar PLC - Grant of options / PDMR dealing





 




RNS Number : 3246R
Sosandar PLC
27 February 2019
 

Sosandar plc

("Sosandar" or the "Company")

Grant of options / PDMR dealing

 

Sosandar PLC (AIM: SOS), the online women's fashion brand, announces that on 25 February 2019, the Board granted 837,626 options over ordinary shares of 0.1 pence each in the Company ("Options") under the [Company's share option plan].

 

543,813 of the Options have been granted to certain members of senior management and 293,813 Options have been granted to James Bowling, the Company's Head of Finance and a PDMR.

 

50% of the Options granted will vest upon the Company achieving £5 million revenue in a 12 month period and 50% upon the Company becoming cash flow positive.  The Options have been granted with an exercise price of 29.2p per share and can be excersible if vested for a 10 year period from the date of the grant.

 

Following the grant of Options, the Company has a total of  20,650,000 options over ordinary shares of 0.1 each in the Company outstanding representing approximately 17.8% of the existing issued share capital of the Company.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the grant of Options to James Bowling:

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

James Bowling

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Head of Finance

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

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

 

a)

 

Name

 

 

Sosandar plc

b)

 

LEI

 

 

2138004313MO7RXAVA37

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 0.1 pence each in the Company

 

GB00BDGS8G04

b)

 

Nature of the transaction

 

 

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Exercise price of Options

 

Volume(s)

29.2 pence

 

293,813 Options

 

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

N/A - Single transaction

e)

 

Date of the transaction

 

 

25 February 2019

f)

 

Place of the transaction

 

 

London Stock Exchange, AIM Market (XLON)

 

 

Enquiries

Sosandar plc

www.sosandar.com   

Julie Lavington / Ali Hall, Joint CEOs

c/o Alma PR



Shore Capital

Patrick Castle / Mark Percy / James Thomas

 

+44 (0) 20 7408 4090

 

Alma PR Limited (Financial PR)

+44 (0) 208 004 4217

Rebecca Sanders-Hewett / Josh Royston / Susie Hudson / Sam Modlin

sosandar@almapr.co.uk

 


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 or visit www.rns.com.
 
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