Employee Benefit Trust Share Purchase
Genuit Group plc announced that the Trustee of its Employee Benefit Trust purchased 1,500,000 ordinary shares for £3,939,359.82 at an average price of £2.607983 per share. This acquisition aligns with the company's strategy to offset share option dilution and enhance shareholder returns, with the Trust now holding 1,642,287 shares, representing 0.65% of the company's voting rights.
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Genuit Group plc ("Genuit" or the "Company") announces that Apex Financial Services (Jersey) Limited, as Trustee of the Genuit Employee Benefit Trust (the "Trust"), purchased 1,500,000 ordinary shares of 0.001p each in the Company ("Ordinary Shares") at an average price of £2.607983, amounting to an aggregate consideration of £3,939,359.82 (inclusive of brokerage and dealing charges). The Trustee of the EBT has purchased Ordinary Shares in accordance with the Company's EBT strategy, which seeks to mitigate the dilutive impact of share option awards and to improve overall shareholder return.
These shares will be used by the Trust for the settlement of awards granted under the Company's employee share schemes or as otherwise permissible within the terms of the EBT trust deed. At the date of this announcement the Trust holds 1,642,287 ordinary shares in the Company, representing 0.65% of the Company's current voting rights.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.