Grant of options / PDMR dealing
27 February 2019
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 |
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| b) | Nature of the transaction | Grant of Options | ||||
| c) | Price(s) and volume(s) |
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| 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 | +44 (0) 20 7408 4090 |
| Patrick Castle / Mark Percy / James Thomas | |
| Alma PR Limited (Financial PR) | +44 (0) 20 3405 0205 |
| Rebecca Sanders-Hewett / Josh Royston / Susie Hudson / Sam Modlin | [email protected] |