Employee SAYE awards and director share dealing
Norcros plc has announced the granting of SAYE options to employees, including its Chief Executive Officer, Thomas Willcocks, who received 7,073 options. In aggregate, up to 199,985 ordinary shares can be subscribed for at a price of 258p per share, with the entitlement arising in 2029. These options are part of an all-employee SAYE scheme, with participants funding the share purchase through their savings.
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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 and has an unapproved section for certain non-UK employees.
Pursuant to the SAYE scheme, certain employees have chosen to participate resulting in them today being granted options to subscribe for up to 199,985 in aggregate ordinary shares of ten pence each in the capital of the Company ("SAYE Options") at a price of 258p per share.
Pursuant to these all-employee SAYE scheme awards, Thomas Willcocks, the Company's Chief Executive Officer, has received 7,073 SAYE Options.
Subject to certain conditions being satisfied, the entitlement to subscribe for shares resulting from the SAYE Options will arise in 2029 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.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.