Share bonus issue

RNS Number : 8458R

NCC Group PLC

23 November 2012

 



23 November 2012

NCC Group plc

Share bonus issue - posting of Circular and notice of General Meeting

NCC Group plc ("LSE: NCC or "the Group"), the international, independent provider of Escrow and Assurance, has today sent to shareholders a circular ("Circular") proposing a share bonus issue and the adoption of two new US employee share option schemes. 

Highlights

·      Five new ordinary shares will be issued for every one ordinary share

·      Enables the creation of two new share incentive schemes for US employees following acquisitions of iSEC Partners, Escrow Associates, Matasano Security and Intrepidus Group

·      Enhances the liquidity and marketability of the Group's shares

Rob Cotton, Group Chief Executive, said:

"The new US share schemes will help us to incentivise and retain our talented team in the US on the same basis as in the UK.  We are a global business, with over 120 staff in the US, and are keen to reflect that in the availability of our share option schemes."

The proposals are subject to approval by shareholders at the Group's General Meeting to be held at 11 am on Tuesday 18 December 2012 at Manchester Technology Centre, Oxford Road, Manchester M1 7E, notice of which is contained in the Circular. If the resolutions are approved, the Group will adopt the two US share schemes and issue five new ordinary shares for each ordinary share held by shareholders on the record at close of business on 18 December 2012.

The share schemes the Group is proposing to adopt are an Incentive Stock Option Plan and an Employee Share Purchase Plan.The number of ordinary shares which are proposed to be allocated under the US Share Schemes shall not, when aggregated with the number of ordinary shares which have been allocated in the previous ten years under other share option schemes adopted by the Group, exceed 10% of the ordinary shares of the Group in issue.

The new ordinary shares will, when issued and fully paid, rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions. The bonus issue will be effected by capitalising £1,729,286.80 from the Group's share premium account.

Application will be made to the Financial Services Authority for the new ordinary shares to be admitted to the Official List and to the London Stock Exchange for the new ordinary shares to be admitted to trading on its market for listed securities.  It is expected that Admission will become effective and that dealings on the London Stock Exchange in the new ordinary shares will commence on 19 December 2012.

In accordance with Listing Rule 9.6.1, a copy of the Circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/nsm

The Circular can also be viewed on the Investor Relations section of the Group's website at www.nccgroup.com.

Enquiries:

NCC Group  (www.nccgroup.com)	0161 209 5432
Rob Cotton, Chief Executive
Atul Patel, Group Finance Director
College Hill
Adrian Duffield/Rozi Morris	020 7457 2020

 

END

 

 

MSCBTBRTMBATBTT