1st Jul 2008 07:00
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Press Release |
1 July 2008 |
Mattioli Woods plc
("Mattioli Woods" or "the Company")
Block Admission of Ordinary Shares and Share Incentive Plan
Mattioli Woods plc (AIM: MTW.L), the specialist pensions consultancy, announces that application has been made to the London Stock Exchange plc for a block admission of 100,000 ordinary shares of 1p each in the Company to be admitted to trading on the AIM market of London Stock Exchange plc.
The shares will be issued pursuant to the allotment of shares from time to time through The Mattioli Woods plc Share Incentive Plan (the "Plan"). Participants in the Plan will become entitled to these shares following the purchase of up to a prescribed number of shares at the end of each month.
It is expected that admission will become effective on 7 July 2008. These ordinary shares will rank pari passu with the existing issued ordinary shares of the Company.
Commenting on the introduction of the Plan, Bob Woods, Executive Chairman of Mattioli Woods, said:
"Mattioli Woods enjoys a strong team spirit and commitment from all its staff and our aim is to build on that culture by encouraging wider equity participation within the organisation. Principally, the Plan will enable employees to buy shares in the Company at an effective discount to the Stock Exchange price by having an amount deducted from pre-tax salary each month. In addition, the Company will grant participating employees matching shares on the basis of 'buy one, get one free'.
Employees with a vested interest in the success of the Company are more motivated. Share incentive plans have also proven to be an effective tool for staff retention. I am delighted to report that the introduction of the Plan has received a very positive reaction from our staff."
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For further information please contact:
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Mattioli Woods plc |
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Bob Woods, Executive Chairman |
Tel: +44 (0) 116 240 8700 |
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www.mattioli-woods.com |
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Ian Mattioli, Chief Executive |
Tel: +44 (0) 116 240 8700 |
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www.mattioli-woods.com |
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Nathan Imlach, Finance Director |
Tel: +44 (0) 116 240 8700 |
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www.mattioli-woods.com |
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Evolution Securities Limited |
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Joanne Lake, Corporate Finance |
Tel: +44 (0) 113 243 1619 |
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www.evosecurities.com |
Media enquiries:
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Abchurch |
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Sarah Hollins / Nick Probert |
Tel: +44 (0) 207 398 7700 |
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www.abchurch-group.com |
Related Shares:
MTW.L