Save As You Earn Share Option Scheme
Source: RNS
Redcentric plc
Save As You Earn Share Option Scheme
Redcentric (AIM:RCN) (the "Company"), a leading UK IT managed services provider, is pleased to announce employee participation under the Company's HMRC approved Save As You Earn (SAYE) Option Plan 2014 (the "Scheme"). The Scheme was established in order to offer Redcentric's employees the opportunity to participate in the future growth of the Company.
Eligible employees were invited to subscribe for share options over ordinary shares in the Company of 0.1p each at an exercise price of 101.33p, representing a 20% discount to the average market price of Redcentric shares over the three days ended 7 September 2023, with a grant date of 2 October 2023 and an exercise date from 1 November 2026 onwards.
The Scheme rules limit each employee to a maximum saving of £500 per month over the three-year period of the Scheme. A total of 71 employees elected to participate, giving rise to the grant of a total of 352,068 share options (equivalent to 0.23% of the Company's current issued share capital).
Enquiries:
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Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer
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+44 (0)800 983 2522 |
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Cavendish Capital Markets Limited - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM) |
+44 (0)20 7220 0500 |
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