8th Jul 2013 15:26
Next Fifteen Communications Group plc
(“Next Fifteen” or the “Company”)
EBT Purchase
Next Fifteen announces that consistent with the authorities granted by shareholders at the Company's AGM on 29 January 2013, the Company has made funds available to the Next Fifteen Employee Trust ("EBT") so that it may purchase ordinary shares of 2.5 pence each in the Company (“Ordinary Shares”).
The EBT is a discretionary trust for the benefit of employees of the Company and its subsidiaries. The EBT has agreed to purchase up to 250,000 Ordinary Shares for the purpose of satisfying existing commitments under the Company's LTIP scheme. The scheme is intended to reward key employees for generating strong earnings growth over the medium term. Details of the scheme and commitments made can be found in the Annual Report. The Executive Directors of the Company are included within the class of potential beneficiaries of the EBT.
A further announcement will be made once the purchases are complete.
Next Fifteen Communications Group plc
Tim Dyson, CEO +1 415 350 2801
David Dewhurst, Finance Director +44 (0) 7974 161183
Canaccord Genuity Limited
Simon Bridges +44 (0) 20 7523 8000
Henry Fitzgerald-O`Connor
Copyright Business Wire 2013
Related Shares:
NFC.L