REG - SpaceandPeople PLC - Establishment of Employee Benefit Trust

SpaceandpeopleAnnouncement

03/08/2022 07:15

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RNS Number : 6903U  SpaceandPeople PLC  03 August 2022

SpaceandPeople plc

("SpaceandPeople" or the "Company")

Establishment of Employee Benefit Trust

 

SpaceandPeople, (AIM:SAL) the retail, promotional and brand experience
specialist, announces that it has established an Employee Benefit
Trust, called the SpaceandPeople plc Employee Benefit Trust (the "EBT"). The
EBT will be for the benefit of current and future employees.

The EBT will act independently of the Company, by JTC Employer Solutions
Trustee Limited, and is expected to make market purchases of the ordinary
shares of the Company ("Ordinary Shares")  in order to, among other things,
satisfy current and potential future option exercises of vested options
granted pursuant to the Company's share option agreements (the "Market
Purchases").

The EBT will be funded by way of a loan from the Company and the Board
believes that the formation of the EBT will help the Company in attracting new
talent and incentivising existing members of the management team. The maximum
amount of the loan to be made available to the EBT at any time shall be capped
at £200,000 unless varied by agreement between the Company and the trustees
of the EBT.

 

 

Enquiries

SpaceandPeople plc

Nancy Cullen, Gregor Dunlay
 
0845 241 8215

 

Zeus (Nominated Adviser and Broker)

David Foreman, Jamie Peel
 
020 3829 5000

 

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