Share Incentive Plan and Directors' Dealings

RNS Number : 7966L

Cenkos Securities PLC

13 January 2016

 

13 January 2016

Cenkos Securities plc

("Cenkos" or "the Company")

Share Incentive Plan and Directors' Dealings

Cenkos is pleased to announce the terms of the 2015/16 allowance under the Company's HM Revenue and Customs approved all share scheme (the "SIP"). All employees including the Executive Directors of the Company ("Qualifying Employees") may participate in the SIP. The 2015/16 allowance under the SIP closed to acceptances on 11 January 2016.

The SIP is an all-employee trust arrangement approved by HM Revenue and Customs under which Qualifying Employees are able to purchase ordinary shares in the Company ("Ordinary Shares") up to a value of £1,800 ("Partnership Shares") using a lump sum deduction from their salary. Qualifying Employees purchasing Partnership Shares will also be allocated matching Ordinary Shares on a two-for-one basis ("Matching Shares") up to a total value of £3,600 from the Company's Employee Benefit Trust. In addition, a further £3,600 in value of Ordinary Shares has been awarded to each Qualifying Employee under the SIP ("Free Shares") from the Company's Employee Benefit Trust.

The Executive Directors of the Company, Jim Durkin, Paul Hodges, Jeremy Warner Allen, Joe Nally, Mike Chilton and Nick Wells have each subscribed £1,800 to acquire Partnership Shares under the 2015/16 SIP allowance and as a result will each also be awarded a further £3,600 of Matching Shares. They will each also receive Free Shares with a value of £3,600 from the Company's Employee Benefit Trust under the SIP.

The purchase of the Partnership Shares in the market will be undertaken in accordance with the terms and conditions of the SIP and at the relevant market price at the time of the purchase. The issue of Partnership Shares, Matching Shares and Free Shares to the Executive Directors will be notified to the market when these take place. All such shares will be held by the independent SIP trustees (Capita IRG Trustees Limited) and the Free Shares and Matching Shares cannot be released to participants until the expiry of the five year period following the date of the award, except in certain specific circumstances.

Enquiries:
Jim Durkin Chief Executive Officer       Cenkos Securities plc	[phone]
Dr Azhic Basirov / David Jones / Ben Jeynes Nominated Adviser and Broker Smith & Williamson Corporate Finance Limited	[phone]
David Rydell / Duncan Mayall Bell Pottinger	[phone]

 

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