Employee SAYE Share Plan
The Company has established a H.M. Revenue and Customs “HMRC” approved Save As You Earn option scheme (the “Scheme"), effective over a three year period from 26 April 2014, at a fixed price of 165.6p per share.
All employees, including the Directors of the Company, will be entitled to participate in the Scheme under the same terms. Current HMRC rules allow employees to invest up to a maximum of £500 per month. Should an employee choose to invest the maximum amount it would result in them being entitled to buy 10,869 shares at the end of the three year period. However, participants may opt to withdraw from the Scheme, recovering any funds that they may have paid into the scheme.
It is envisaged that Darrin Disley and Richard Vellacott will participate in the scheme to the maximum amount allowable under the scheme. This notification is therefore made due to the potential beneficial interest of both Directors.