Intended Purchase of Shares by EBT
EBT to purchase up to £2.80 million of ordinary shares to meet long-term incentive plan obligations.
- Intended share purchase value £2.80 million
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The Company announces that APEX Financial Services (Trust Company) Limited, the trustee of the IG Design Group Plc Employee Benefit Trust (the "EBT"), has indicated its intention to make market purchases in ordinary shares of the Company for the benefit of the EBT up to a value of £2.80 million, to help meet future obligations arising under the Company's long-term incentive plan (the "Market Purchases").
The Market Purchases are subject to the EBT's discretion as to the purchase price, in consultation with Canaccord Genuity, the Company's broker, to be paid up to a pre-agreed maximum price per ordinary share in the Company.
The Market Purchases will be funded by amounts advanced by the Company by way of loan, such funding having been provided for within recent public announcements as to the Company's outlook.
Further announcements will be made on completion of the Market Purchases.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.