Completion of issue of Ordinary Shares to the EBT

11 December 2020

Studio Retail Group PLC

("Company") 

Completion of issue of Ordinary Shares to the EBT

Further to the announcement made by the Company on 8 December 2020 regarding a proposed allotment of 425,000 new ordinary shares of 10 pence each in the capital of the Company ("New Ordinary Shares") to the Trustees of The Fine Art Developments Employee Trust ("EBT"), the Company today confirms that following admission of the New Ordinary Shares to listing on the premium listing segment of the Financial Conduct Authority's ("FCA") Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"), the proposed allotment to the EBT has been completed.

The EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries ("Group"), including the executive directors of the Company. The New Ordinary Shares are intended to be used by the EBT to satisfy requests received from directors and employees of the Group to exercise awards previously granted under the Company's Performance Share Plan 2016.

Following Admission, the Company's issued share capital comprises 86,867,534 ordinary shares of 10 pence each, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Tulchan Communications LLPWill Smith020 7353 4200