Fashion giant Boohoo has handed shares to more than 1,100 of its employees.
The Manchester-headquartered group said the move was part of its Save As You Earn ('SAYE') share scheme for 2022.
The scheme is open to all employees, "giving them the opportunity to participate in the future growth of the company" via share option arrangements, it added.
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In a statement to the London Stock Exchange, Boohoo said that eligible employees were invited to subscribe for options over ordinary shares of 1p each in the group with an exercise price of 30p, representing a 17.16% discount to the closing middle market price of the ordinary shares on October 7, 2022.
These options have a contract start date of December 1, 2022, and are exercisable between December 1, 2025, and May 31, 2026.
A total of 1,166 employees elected to participate and were issued a total of 32,160,360 options over ordinary shares, equating to 2.54% of the current issued share capital in Boohoo.
Chief executive John Lyttle, chief financial officer Shaun McCabe and director Neil Catto are participants in the company's SAYE scheme and are included in the total figures above. Their individual option grants pursuant to this year's SAYE scheme are 60,000 shares each.
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