Directors' Interests

The Directors' interests in the shares of the Company are as follows:

Melissa Ong is the daughter of Ong Beng Seng and Christina Ong, who together are beneficially interested in approximately 56.14% of the Company's total voting rights.

The other Directors have no interests in the shares of the Company, except with respect to the following share award arrangements:

Deferred Bonus Plan

On 15th August 2008, 12th October 2009, 24th March 2010, 30th March 2011 and 1st July 2012 certain Persons Discharging Management Responsibilities (PDMRs) and other key employees were granted deferred shares under the new Mulberry Group Plc Deferred Bonus Plan. These shares are held within the Mulberry Group plc Employee Share Trust. Alongside these shares a matching number of nil cost options have been awarded. The options vest for two years from the date of issue and are exercisable from 15th August 2010 to 15th August 2018, 30th June 2011 to 30th June 2019, 30th June 2012 to 30th June 2020, 30th June 2013 to 30th June 2021 and 1st July 2014 to 1st July 2022 respectively.

The outstanding options under this Plan are :-

Co-Ownership Plan

On 20th August 2009 Mulberry established a Co-Ownership Plan to operate in conjunction with the Employee Benefit Trust. This plan is designed to align management and shareholders' interests through rewarding participants for a growth in Mulberry share price above a specified threshold over the three year vesting period. For the grant listed below, participants will own an interest in the Ordinary Shares from the date of the award but will only participate in the value to the extent that the Mulberry share price exceeds 20% above the current market price at date of grant of 121.5 pence per Ordinary Share.

The total number of 5p Ordinary Shares subject of these grants are as follows:

Unapproved Share Option Scheme

The following options are outstanding under unapproved share option schemes:

Performance Share Plan

On 19th December 2012 Mulberry established a Long Term Incentive Plan (LTIP) to operate in conjunction with the Employee Benefit Trust. The LTIP was designed to align management and shareholders’ interests through rewarding participants for growth in Mulberry’s turnover and earnings before interest and tax (EBIT) above specified thresholds over the vesting period.

Two grants of nil cost options were made on 20th December 2012 and 7th August 2013. However, all of these options have lapsed as the performance targets were not met.

On 10th July 2017 the LTIP was amended and renamed the 2017 Performance Share Plan. New Revenue and Profit Before Interest and Tax (PBIT) targets were introduced to be measured against consolidated audited accounts for the year ended 31 March 2020.

50% of the shares granted vest in accordance with the Revenue growth target and 50% in accordance with the PBIT target.

Options vest on a straight line pro rata basis between the minimum and maximum thresholds for both Revenue and PBIT. In the event that targets are not met, the options lapse.

The first grant of nil cost options was made on 10th July 2017, with a July 2020 vesting date, subject to attainment of specified targets.  These options have lapsed as the performance targets were not met.

Two further grants of nil cost options were made on 25 November 2019, one vesting by 30 June 2021 and the second by 30 June 2022.  Vesting will be subject to achievement of Profit Before Tax targets reported in the consolidated audited accounts for the years ended 31 March 2021 and 31 March 2022 respectively.

The total number of 5p Ordinary Shares subject of these grants are as follows: