New Joint Share Ownership Plan
Telecom PlusPLC (the "Company")
New Joint Share Ownership Plan
Telecom Plus PLC today announces that it is seeking shareholder approval at a General Meeting to be held on 30 March 2011 for the establishment of a new long term employee incentive plan, the Telecom Plus PLC Joint Share Ownership Plan 2011 (the "JSOP").
The JSOP is designed to provide a tax-efficient reward to participants in the plan and effectively align their interests with those of all shareholders by providing a clear focus on maximising the long term value and profitability of the Company.
Further details of the JSOP and the proposed initial award to be made under the JSOP are set out in the Notice of General Meeting (the "Notice") which will be despatched to shareholders today along with an associated Proxy Form. The Notice will also be made available on the Company's website: www.utilitywarehouse.co.uk.
A copy of the Notice and Proxy Form has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do.
The Notice contains information regarding the total number of shares in the Company and the total number of shares in respect of which members are entitled to exercise voting rights and the total number of votes that members are entitled to exercise at the meeting.
For further information, please contact:
Telecom Plus PLC
David Baxter
Tel: (020) 8955 5000
This information is provided by RNS