Norcros PLC Employee SAYE awards and director shareholding (7088J)
December 23 2020 - 6:08AM
UK Regulatory
TIDMNXR
RNS Number : 7088J
Norcros PLC
23 December 2020
Norcros plc
("Norcros", the "Group" or "the Company")
23 December 2020
Employee SAYE awards and director shareholding
Norcros announces that the Company has today been notified of
the following share option grant to a Director of the Company under
the Group's Save as You Earn ("SAYE") scheme. The SAYE scheme is
approved in the UK by HM Revenue and Customs.
Pursuant to the SAYE scheme, certain employees have chosen to
participate resulting in them today being granted options to
subscribe for up to 692,908 in aggregate ordinary shares of ten
pence each in the capital of the Company ("SAYE Options") at a
price of 164.0p per share.
Pursuant to these all-employee SAYE scheme awards, Nick Kelsall,
the Chief Executive Officer, has received 10,975 SAYE Options.
Subject to certain conditions being satisfied, the entitlement
to subscribe for shares resulting from the SAYE Options will arise
in 2024 at the end of the three-year SAYE scheme savings contract
period. Participants who choose to exercise their entitlements
pursuant to the rules of the SAYE scheme will meet the obligation
to pay for the resultant shares out of funds they have paid into
the SAYE scheme prior to such exercise. Participants in the SAYE
scheme may opt to withdraw from the SAYE scheme, recovering paid-in
funds, prior to that time.
Further enquiries:
Norcros plc
Tel: 01625 547700
Nick Kelsall, Chief Executive Officer
Shaun Smith, Chief Financial Officer
Hudson Sandler
Tel: 0207 796 4133
Nick Lyon
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