Grant of SAYE Options and PDMR Dealings
12 September 2022
musicMagpie plc
("musicMagpie" or "the Company")
Grant of SAYE Options and PDMR Dealings
musicMagpie, a circular economy pioneer specialising in refurbished consumer technology in both the UK and US, announces that it has launched it's 2022 Save As You Earn Scheme (the "2022 SAYE Scheme") offering a saving plan over 3 years for all eligible employees.
Employees were invited to subscribe for options ("Options") over the Company's ordinary shares of £0.01 each in the Company ("Ordinary Shares") which have been granted on 07 September 2022 at an exercise price of £0.45 in accordance with the terms of the 2022 SAYE Scheme. This was the average closing share price on the three days prior to the invitation being made to all eligible employees on 11 August 2022.
A total of 31 employees have participated in the scheme and 514,404 Options have been granted representing 0.5% of the Company's issued share capital. This is in addition to the 103,391 Options granted in 2021 in relation to the SAYE scheme that year.
The following Person Discharging Managerial Responsibility ("PDMR") have chosen to participate in the 2022 SAYE Scheme:
Steven Oliver, Chief Executive Officer
Matthew Fowler, Chief Financial Officer
Ian Storey, Chief Operating Officer
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation as part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and set out more details of the transactions.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
1. Steven Oliver 2. Matthew Fowler 3. Ian Storey
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2 |
Reason for the notification |
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a) |
Position/status |
1. Chief Executive Officer 2. Chief Financial Officer 3. Chief Operating Officer
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b) |
Initial notification /Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
musicMagpie plc |
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b) |
LEI |
213800QMKTKSDMQIR327 |
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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 |
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a)
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Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 1 pence each ("Ordinary Shares") GB00BKY4XG48 |
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b)
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Nature of the transaction |
Grant of Options under the 2022 SAYE Scheme - 3-year savings plan. |
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c) |
Price(s) and volume(s) |
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d)
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Aggregated information - Aggregated volume - Price |
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e)
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Date of the transaction |
07 September 2022 |
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f)
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Place of the transaction |
Outside trading venue - shares to be admitted to AIM market of London Stock Exchange plc on exercise of options
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For further information please contact:
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musicMagpie plc Martin Hellawell, Non-Executive Chairman Steve Oliver, Chief Executive Matthew Fowler, Chief Financial Officer |
+44 (0) 870 333 7101 |
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Peel Hunt LLP (Nominated Adviser and Joint Broker) Paul Gillam Tom Ballard James Smith |
+44 (0) 20 7418 8900 |
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Shore Capital Stockbrokers (Joint Broker) Malachy McEntyre Mark Percy Daniel Bush |
+44 (0) 20 7408 4090 |
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Powerscourt (Financial Public Relations) Rob Greening Genevieve Ryan Sam Austrums |
+44 (0) 20 7250 1446 |
About musicMagpie
Operating through two trusted brands - musicMagpie in the UK and decluttr in the US - musicMagpie's core strategy is simple: to provide consumers with a smart, sustainable and trusted way to buy, rent and sell refurbished consumer technology and physical media products with sustainability running to the very heart of its operations. Founded in 2007, the Group has an established presence in the UK, with operations in Stockport, Greater Manchester, and in the US in Atlanta, Georgia.
musicMagpie has a strong environmental and social focus, as demonstrated by its trademarked 'smart for you, smart for the planet' ethos. Over 400,000 consumer technology products were resold in FY21. In addition, the Group re-sells approximately 2,500 tonnes of books and disc media each year that could have ended up as waste. During 2021, musicMagpie's UK consumer tech and disc media customers, along with its trade partners, helped to save over 50,000 tonnes of CO2 by buying, selling and renting with the Group - an amount equivalent to providing heating for over 18,000 homes. The Group has been given the London Stock Exchange's Green Economy Mark in recognition of its contribution to the global green economy.
When selling to musicMagpie, the customer is offered a fixed valuation via the website, provided with free logistics to ship the products and (subject to it being 'as described') receives payment for their product on the day of arrival at the Group's warehouse. The Group also recently partnered with Asda to give customers the option of using its SMARTDrop Kiosks in store for a fast and easy way to recycle phones for instant cash. Customers purchasing from musicMagpie receive branded refurbished product for a fraction of the price of buying new.
The Group has the highest number of seller reviews on both Amazon and eBay and has consistently achieved extremely positive feedback scores. The Group also has a 4.6* rating on UK Trustpilot with over 225,000 reviews.
For further information please visit: www.musicmagpieplc.com
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