REG - Begbies Traynor - Employee Benefit Trust Purchase Plan

Begbies TraynorAnnouncement

14/12/2023 07:15

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RNS Number : 7142W  Begbies Traynor Group PLC  14 December 2023

14 December 2023

Begbies Traynor Group plc

 

Employee Benefit Trust Purchase Plan

 

 

The Company confirms today that its Employee Benefit Trust ("EBT" or the
"Trust") the trustee of which is JTC Employer Solutions Trustee Limited, has
entered into a trading plan ("the EBT Purchase Plan") to acquire ordinary
shares of 5p each in the capital of the Company ("Ordinary Shares").

 

It is the Company and the EBT's intention that any Ordinary Shares acquired by
the EBT will be used to satisfy the awards of share options granted to
employees of the Company (or for such other purposes as may be required of the
Trust from time to time).

 

Purchases under the EBT Purchase Plan will be limited to a monthly maximum
value of £750,000 with an aggregate limit of £3 million over the term of the
plan. The maximum price paid for such Ordinary Shares shall be an amount equal
to the higher of: (i) 5% above the average of the middle market quotations for
such Ordinary Shares for the preceding five business days immediately
preceding the day on which the purchase is made; (ii) the price of the last
independent trade of Ordinary Shares on the venue where the purchase is
carried out; and (iii) the highest current independent bid for an Ordinary
Share as derived from the trading venue where the purchase is carried out.

 

The EBT Purchase Plan will, unless terminated by the Trustee at an earlier
date, expire on 31 July 2024.

 

JTC Employer Solutions Trustee Limited, as Trustee of the EBT, has absolute
discretion and independence in respect of all trading decisions it may make in
respect of the market purchases of Ordinary Shares pursuant to the EBT
Purchase Plan.

 

Further announcements will be made as and when any trades are undertaken by
the EBT.

 

Enquiries please contact:

 

 

 

Begbies Traynor Group plc
                                          0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

 

Canaccord Genuity Limited
                                              020 7523
8350

(Nominated Adviser and Joint Broker)

Emma Gabriel / Harry Pardoe

 

Shore Capital (Joint Broker)
                                             020 7408
4090

Malachy McEntyre / Mark Percy / Anita Ghanekar / James Thomas

 

MHP
 
                   020 3128 8100

Reg Hoare / Katie Hunt / Charles Hirst
                     begbies@mhpgroup.com
(mailto:begbies@mhpgroup.com)

 

 

Information on Begbies Traynor Group can be accessed via the group's website
at

www.ir.begbies-traynorgroup.com

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