City round-up: Boohoo; musicMagpie; JD Sports Fashion
Manchester online retail group Boohoo has issued shares to almost 1,400 staff as part of its Save As You Earn share scheme for 2021.
It announced that eligible staff were invited to subscribe for options over ordinary shares of 1p each in the company, with an exercise price of 154.48p, which was a 20% discount on the closing middle market price of the ordinary shares on October 6, 2021, the day before the invitation to participate was made.
The options have a contract start date of December 1, 2021, and are exercisable between December 1, 2024, and May 31, 2025.
The retailer said a total of 1,387 staff elected to participate in the scheme, and a total of 6,144,989 options over ordinary shares were issued on November 1, 2021, which represents 0.48% of the group’s current issued share capital.
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Matthew Fowler
The board of Stockport-based musicMagpie, the re-commerce business in the UK and US specialising in refurbished consumer technology, has announced the appointment of Matthew Fowler, 47, as executive director and chief financial officer.
His start date will be confirmed in due course and he will join the board on his appointment, which follows Ian Storey’s promotion to group chief operating officer at the time of the company’s flotation in April this year.
Matthew joins musicMagpie from Manchester-based molecular testing business, genedrive, where he has been CFO since 2016.
Prior to joining genedrive, Matthew spent eight years as group financial controller of Manchester-based wound care specialist, Scapa Group. He previously spent three years at British Nuclear Group as finance manager, having trained and qualified in the audit department of Deloitte & Touche.
Martin Hellawell, chairman of musicMagpie, said: “On behalf of the board, I am delighted to be welcoming Matthew to musicMagpie. His experience of working in senior positions for AIM-quoted companies and his considerable financial and operational expertise will be hugely beneficial to musicMagpie as it continues its journey as a public company.”
Matthew Fowler said: “I am extremely excited to be joining a business of musicMagpie’s calibre and ambition. Given its unique circular economy model and consumer and societal trends, it is clear to me that the group has significant growth potential.
“The group’s impressive ESG credentials were also a major factor in my decision to join. I am looking forward to working with Steve, Ian and the rest of the team to realise the group’s strategic plans for the future.”
Ian Gilham, chairman of genedrive, said: “I would like to thank Matthew for his contribution over the last five years. The board and I wish him the very best for the future and in his new role.”
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Peter Cowgill
JD Sports Fashion, the Bury-based retailer of sports, fashion and outdoor brands, has announced that Helen Ashton has been appointed as a non-executive director, with effect from November 15, 2021.
Helen has 30 years of experience of working in public and private equity backed businesses and is a qualified Chartered Management Accountant. As the former CFO of ASOS, Helen has deep knowledge of high growth, digital fashion in an international arena.
She has also held executive level roles in ASDA, Barclays and Lloyds Banking Group and CEO positions in high growth private equity backed businesses.
Peter Cowgill, JD Sports executive chairman, said: “I am pleased to announce that Helen Ashton has joined the JD board of directors. Helen brings a significant amount of retail, digital and financial experience.
“Helen will take up the role of audit committee chair and will play a crucial role on the board as we embark upon a period of transition to a new audit firm.
“The directors of JD are delighted to welcome Helen to the board and are encouraged by the progress that has been made in strengthening the board with the appointment of new members with extensive skills, experience and expertise, for the benefit of all stakeholders.”
