Additional Listing, Grants and TVR
October 12 2009 - 2:00AM
UK Regulatory
TIDMMUL
RNS Number : 5702A
Mulberry Group PLC
12 October 2009
Mulberry Group plc
Additional Listing, Grants under Deferred Bonus Plan and Co-ownership Plan and
TVR
Additional Listing
Mulberry Group plc ("Mulberry" or the "Company") announces that 1,450,000 new
ordinary shares of 5 pence each in the Company ("Ordinary Shares") have been
allotted and issued to the Mulberry Group plc Employee Benefit Trust (the "EBT")
at a price of 5 pence per Ordinary Share.
These new Ordinary Shares will rank pari passu in all respects with the existing
Ordinary Shares in issue.
Application has been made to the London Stock Exchange for the new Ordinary
Shares to be admitted to AIM and it is expected that admission will take place
on 14th October 2009.
Deferred Bonus Plan grants
The Company today granted deferred Ordinary Shares under Mulberry's Deferred
Bonus Plan at a price of 121.5 pence per Ordinary Share. These grants relate to
bonus payments awarded to the Directors and key employees in respect of the
Company's performance for the financial year ended 31st March 2009. The deferred
Ordinary Shares, which are held within the EBT, will vest on 30th June 2011.
The total number of Ordinary Shares subject to these grants are as follows:
+--------------------+-----------------------+---------------------+
| | Deferred Ordinary | Total deferred |
| | Shares granted under | Ordinary Shares |
| | Deferred Bonus Plan | granted under |
| | today |Deferred Bonus Plan |
| | | to date |
+--------------------+-----------------------+---------------------+
| Godfrey Davis | 14,568 | 24,602 |
+--------------------+-----------------------+---------------------+
| Roger Mather | 12,140 | 16,154 |
+--------------------+-----------------------+---------------------+
| Others key | 40,062 | 47,286 |
| employees | | |
+--------------------+-----------------------+---------------------+
| Total | 66,770 | 88,042 |
+--------------------+-----------------------+---------------------+
In addition to the grant of deferred Ordinary Shares under the Deferred Bonus
Plan, a matching number of nil cost options have been awarded. The options in
this grant vest on the 30th June 2011 and are exercisable between 30th June 2011
and 30th June 2019.
+--------------------+-----------------------+---------------------+
| | Nil cost options | Total nil cost |
| | granted today | options granted to |
| | | date |
+--------------------+-----------------------+---------------------+
| Godfrey Davis | 14,568 | 24,602 |
+--------------------+-----------------------+---------------------+
| Roger Mather | 12,140 | 16,154 |
+--------------------+-----------------------+---------------------+
| Other key | 40,062 | 47,286 |
| employees | | |
+--------------------+-----------------------+---------------------+
| Total | 66,770 | 88,042 |
+--------------------+-----------------------+---------------------+
New Co-Ownership Plan
On the 20th August 2009, Mulberry established a Co-Ownership Plan to operate in
conjunction with the EBT. This plan is designed to align management and
shareholders' interests through rewarding participants for a growth in Mulberry
share price above a specified threshold over the 3-year vesting period. For the
grant listed below, participants will own an interest in the Ordinary Shares
from the date of the award but will only participate in the value to the extent
that the Mulberry share price exceeds 20% above the current market price at date
of grant of 121.5 pence per Ordinary Share.
The total number of Ordinary Shares subject of these grants are as follows:
+--------------------+-----------------------+---------------------+
| | Ordinary Shares | Total Ordinary |
| | granted under | Shares granted |
| | Co-Ownership | under Co-Ownership |
| | Plan today | Plan to date |
+--------------------+-----------------------+---------------------+
| Godfrey Davis | 300,000 | 300,000 |
+--------------------+-----------------------+---------------------+
| Roger Mather | 250,000 | 250,000 |
+--------------------+-----------------------+---------------------+
| Other key | 775,000 | 775,000 |
| employees | | |
+--------------------+-----------------------+---------------------+
| Total | 1,325,000 | 1,325,000 |
+--------------------+-----------------------+---------------------+
Total Voting Rights
The issued share capital of the Company following admission of the new Ordinary
Shares will be 58,869,505 Ordinary Shares with a nominal value of 5 pence each.
No Ordinary Shares are held in treasury. Therefore, the total number of voting
rights in Mulberry is 58,869,505.
The figure of 58,869,505 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their interest in,
the share capital of the Company under the FSA's Disclosure and Transparency
Rules.
Enquiries:
+------------------------------------+------------------------------------+
| Pelham PR | Tel: +44 (0) 20 7337 1503 |
| David Wynne-Morgan | |
| | |
+------------------------------------+------------------------------------+
| Altium Capital | Tel: +44 (0) 20 7484 4040 |
| Ben Thorne / Melanie Szalkiewicz | |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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