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Online fashion giant Boohoo has handed almost 1,400 of its employees shares in the company. The Manchester-headquartered business, which is listed on the London Stock Exchange’s…

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Fashion giant Boohoo hands shares to almost 1,400 employees

16 November, 2021 | by Angela Beevers

Online fashion giant Boohoo has handed almost 1,400 of its employees shares in the company.

The Manchester-headquartered business, which is listed on the London Stock Exchange’s AIM, confirmed a total of 1,387 of its employees are taking part in the Save As You Earn (SAYE) share scheme for 2021.

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In a statement, Boohoo said the scheme was open to all employees, “giving them the opportunity to participate in the future growth of the company via share option arrangements”.

Eligible employees were invited to subscribe for options over ordinary shares of 1p each in the firm with an exercise price of 154.48p, representing a 20% discount to the closing middle market price of the ordinary shares on October 6, 2021, the day before the invitation to participate was made.

These options have a contract start date of 1 December, 2021 and are exercisable between 1 December, 2024 and 31 May, 2025.