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16/06/2021

WHO’S GETTING WHAT? In The Style, Lloyds Bank, Moderna

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In The Style

Adam Frisby, the founder of the In The Style fashion website, is expected to crystallise a multimillion-pound fortune through a £100m stock market listing, says The Sunday Times. The 33-year-old from Manchester started the business, which helps shoppers to emulate celebrity style on a budget, six years ago from his bedroom.

He grew the brand by collaborating with reality TV stars, such as Love Island’s Dani Dyer. In The Style posted sales of £17m and a pre-tax loss of £1.6m in the year to March 2019. The listing is planned for the first half of 2021.

Lloyds Bank

The boss of Lloyds Bank, Antonio Horta-Osorio, could receive a huge windfall just as he prepares to leave the lender next July, says The Mail on Sunday. Herta-Osorio has been awarded 1.4 million shares this year through the fixed share award payment scheme, bought at an average price of just over 29p for an outlay of around £425,000. A return to the 64p price seen in January would see the award soar to £900,000 in value.

Moderna

Moderna’s chief executive, Stephane Bancel, offloaded another $1.7m of shares last week
while the world waits for the biotech company to be the second to file its Covid-19 vaccine for emergency use in the US, says Bloomberg. Bancel sold 19,000 shares at an average price of $91.73 from 18 November. The recent rally in Moderna’s share price lifted Bancel’s net worth to $3.1bn, based mainly on his 6% stake in the business.

Nice work if you can get it!

Health secretary Matt Hancock has been grilled over his staff’s spending of almost £50,000 of taxpayers’ money on takeaways during the pandemic, says the Daily Mail. Hancock said the civil servants had been working 18-hour days and that ordering from Bongbong’s Manila Kanteen, in east London, was possibly the best value food you can get.

Nine orders made by the Department of Health and Social Care in April to the hipster Filipino restaurant came to £43,348.96 at an average of £4,817 per order. In March, the department spent £4,179.72 at the restaurant, which calls customers Bongerz, on deliveries to its offices five miles away in Victoria, central London, according to an investigation by the paper and the pressure group Taxpayers’ Alliance.

It found £5.6bn had been frittered away on luxuries, feathering Whitehall mandarins’ nests and a wide range of jaw-dropping projects last year.

Source: moneyweek.com

Kris Paterson is a writer for www.whatjobs.com the global job search engine

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