Norcros PLC Employee SAYE awards and director shareholding (0715S)
December 16 2016 - 3:29AM
UK Regulatory
TIDMNXR
RNS Number : 0715S
Norcros PLC
16 December 2016
Norcros plc
("Norcros", the "Group" or "the Company")
16 December 2016
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 Company's Save as You Earn ("SAYE") scheme. The SAYE scheme is
approved by HM Revenue and Customs.
Under the SAYE scheme, certain employees have chosen to
participate resulting in them today being granted options to
subscribe for in aggregate up to 297,238 ordinary shares of ten
pence each in the capital of the Company ("SAYE Options") at a
price of GBP1.5125 per share.
Pursuant to this all-employee SAYE scheme award, Shaun Smith,
the Group Finance Director, has received 11,900 SAYE Options.
Subject to certain conditions being satisfied, the entitlement
to subscribe for shares resulting from the SAYE Options will arise
in 2020 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 547 700
Nick Kelsall, Group Chief Executive
Shaun Smith, Group Finance Director
Hudson Sandler
Tel: 0207 796 4133
Nick Lyon
Fern Duncan
This information is provided by RNS
The company news service from the London Stock Exchange
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December 16, 2016 04:29 ET (09:29 GMT)