EBT Market Purchase Programme
Employee Benefit Trust to purchase up to £4.2m of shares for employee schemes.
- EBT Market Purchase Programme budget £4.2 million
Select text to share a quote on X · sign in to keep highlights & notes in your AO. notes
EBT
AO World PLC ("AO" or the "Company"), the UK's most trusted online electrical retailer, today announces that Apex Financial Services (Trust Company) Limited (the "Trustee"), as Trustee of the AO World Employee Benefit Trust (the "EBT") will shortly commence making market purchases of ordinary shares of £0.0025 each in AO ("Shares") (the "EBT Market Purchase Programme").
Purchases under the EBT Market Purchase Programme are for a maximum aggregate consideration of £4.2 million (inclusive of brokerage and dealing charges) which has been funded by the Company by way of gift.
Shares purchased under the EBT Market Purchase Programme will be used to satisfy existing, planned and anticipated options and awards under AO's employee share schemes, or as otherwise permissible within the terms of the EBT trust deed.
In connection with the arrangements in relation to the EBT Market Purchase Programme, interim accounts for the Company, prepared in accordance with section 838 of the Companies Act 2006, have been delivered to and are published on Companies House.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.