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RNS Number : 5170Q
SuperGroup PLC
12 September 2017
SuperGroup<Plc
SuperGroup Plc ("SuperGroup" or the "Group") announces
innovative
Founder Share Plan for all global colleagues
12 September 2017
The founders of Superdry have launched an innovative long-term
incentive scheme (the "Scheme") under which they will share their
wealth with all 4,500 colleagues in the business worldwide. The
move is part of the wider strategy to attract, retain and reward
the best people, one of the cornerstones of the success of Superdry
as a global lifestyle brand.
At the conclusion of the scheme, Julian Dunkerton(1) and James
Holder(1) will transfer into a fund 20 per cent of their gain from
any increase in the Group's share price over a threshold of GBP18.
The proceeds from this fund will be shared across the Superdry
colleague base worldwide. Each GBP5 increase in the share price
over the GBP18 threshold would see the founders putting GBP30m into
the fund for all colleagues, including those who work part-time. At
market close yesterday, shares in SuperGroup were trading at
1560p.
Euan Sutherland, Chief Executive Officer, and Nick Wharton,
Chief Financial Officer, participate in existing long-term
incentive arrangements and have waived their entitlement to take
part in the Scheme, in order to ensure it can cover everyone in the
Group's stores and head office(2,3) . The entire cost(4) of the
plan is being funded by Julian and James.
Under the plan, for each GBP5 share increase over the GBP18
threshold, full-time store colleagues and those in the most junior
roles in head office, totalling more than 2,600 people, would be
awarded up to GBP2,000, at the end of the three-year plan period.
The equivalent figure for store managers would be GBP28,000 for
senior leaders up to GBP75,000 and for executive team members would
start at GBP300,000. All awards will be over and above existing pay
and bonus arrangements.
The Scheme, which will run from 1 October 2017 to 30 September
2020, is being launched today as the Group holds its Annual General
Meeting in Cheltenham.
Julian Dunkerton, SuperGroup Founder and the Group's Product and
Brand Director, said:
"James and I passionately believe that the success of the
Superdry brand is down to the combined work of all our people. As
the founders of the business we remain significant investors and it
is important to us that we share our on-going success with all
colleagues. This is the right way to ensure that our great team is
properly rewarded for all the work they are doing to grow our
global lifestyle brand."
Euan Sutherland, SuperGroup Chief Executive Officer, said:
"SuperGroup's strategy is delivering for consumers, colleagues
and investors, driven by the hard work of our people that drives
the relentless innovation across our business. We have achieved
significant growth in sales and profits across all channels and
geographies, while operationally transforming the business as a
global team.
We remain confident in our strategy and believe that this
innovative approach to reward for everyone will help us attract and
retain the very best talent as we continue to deliver for consumers
and create sustainable value for our investors."
Peter Bamford, Chairman of SuperGroup, said:
"This plan is in keeping with the entrepreneurial spirit of
SuperGroup, rewarding all our colleagues with a share of the value
they help create for investors. We consulted widely with leading
investors, who welcomed this as an innovative way for founders to
share their wealth, based on the delivery of growth for all
investors."
For further information:
SuperGroup
Nick Wharton +44 (0)1242 586456
Chief Financial Officer nick.wharton@supergroup.co.uk
Tulchan Communications
Susanna Voyle +44 (0) 20 7353 4200
Samantha Chiene supergroup@tulchangroup.com
Notes:
1. Julian Dunkerton's and James Holder's shareholdings at 11
September 2017 were 21,724,897 (26.67% of issued share capital) and
8,593, 730 (10.55%) respectively. The individual contributions of
Julian Dunkerton and James Holder will be in relation to the level
of their shareholdings in SuperGroup.
2. No members of the Board are participating in the scheme.
3. All employees of SuperGroup and its subsidiaries will qualify
for the Scheme, whether full or part-time, if they have been
employed for at least 18 months when the plan matures. Senior staff
will get share options which are exercisable in January 2021 and
January 2022; other colleagues will receive awards (whether in cash
or share options) in January 2021 and July 2021.
4. The plan is one off in nature and unusual in that the share
awards are being funded exclusively by the founders. Accordingly,
we anticipate the share based payment charge will be reported
outside underlying earnings.
Media images available on request from
supergroup@tulchangroup.com.
Notes to Editors
SuperGroup is the owner of British lifestyle brand Superdry. A
brand designed for attitude not age with affordable,
premium-quality clothing, accessories, footwear and cosmetics.
As we develop the breadth and nature of our product range, we
continue to appeal to a much broader, aspirational age group. Those
who want to feel amazing in what they wear and appreciate style,
quality and attention to detail.
Already well established in the UK - our home market - we
operate a significant and continually expanding international
business, selling through our websites, wholesale partners, a
network of franchise stores and, increasingly, our independent
stores. We are becoming a more efficient business as we improve our
process from design to customer and refine our wholesale model.
Simultaneously, we are focused on expanding our business globally,
and we have a clear strategy for growing our e-commerce business as
well as Europe, North America and China.
The Group has a physical presence in 62 countries through 863
stores and concessions globally. We also have a successful
e-commerce business with 27 international websites across 18
countries covering 12 different languages.
Cautionary Statement
This announcement contains certain forward-looking statements
with respect to the financial condition and operational results of
SuperGroup Plc. These statements and forecasts involve risk,
uncertainty and assumptions because they relate to events and
depend upon circumstances that will occur in the future. There are
a number of factors that could cause actual results or developments
to differ materially from those expressed or implied by these
forward-looking statements. These forward-looking statements are
made only as at the date of this announcement. Nothing in this
announcement should be construed as a profit forecast. Except as
required by law, SuperGroup Plc has no obligation to update the
forward-looking statements or to correct any inaccuracies
therein.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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