Shares in fashion at Boohoo
ONLINE fashion business boohoo.com has granted share options to senior managers and staff.
The Manchester business floated on the stock market earlier in the month raising around £300m, and netting a fortune for its founder Mahmud Kamani and his family.
Today the firm said it had made 3.1 million shares available to non-executive directors with 1.9 million going to chairman Peter Williams.
Some 776,000 shares have been granted to employees. All the options are subject to the company’s profit performance and have a vesting period of three years. The shares closed at 53p yesterday, down on the initial rise from an offer price of 50p after last month’s listing.
In a trading update issued yesterday for the year to the end of February boohoo said it performed in line with market expectations delivering revenues of £109m, a year-on-year increase of 62%.
The company said statutory earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to be in line with market forecasts at more than 200% on the previous year’s figure of £3.9m.
