Boohoo has handed over 17.1 million shares, worth almost 6m to 46 of its staff.
The fashion giant said the move was part of its Discretionary Share Award Plan and confirmed that no executive directors received any of the shares.
This development has taken place during Boohoo’s ongoing public dispute with Revolution Beauty.
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In the midst of the feud, Boohoo, which owns 26.6% of the online cosmetics retailer, has requested clarification regarding the allocation of shares worth approximately £2m to its top-level executives.
Revolution Beauty has stated that the senior management team was given complimentary share options in recognition of their diligent work in enhancing the company’s sales.
However, Boohoo has emphasised that shareholders were not consulted regarding these share awards, which are projected to lessen the ownership of current shareholders by 3.4%.
As a result, the group has requested total openness and the disclosure of thorough information concerning the share options.
It has also demanded that Revolution Beauty confirms publicly that the proposed terms of grant of the free share awards were not amended following the announcement by Boohoo on June 19 of its intention to vote against the appointments of the CEO and CFO at the company’s annual general meeting.
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