EBT Disposal

RNS Number : 6064L

Ten Lifestyle Group PLC

13 September 2021

 

13 September 2021

Ten Lifestyle Group plc

(the "Company" or "Ten")

EBT Disposal

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world's wealthy and mass affluent, announces that it was notified on Friday 10 September 2021 by the trustees of the Ten Employee Benefit Trust ("EBT") that they sold 500,000 ordinary shares of 0.1p each in the Company ("Ordinary Shares") the same day at a price of £1.038p per share. 

The cash generated by this sale is intended to fund the reinstatement of employee loyalty programmes, following a freeze implemented as a part of COVID-19 cost saving initiatives in March 2020.

The EBT is a discretionary trust and the class of beneficiaries of the EBT includes employees and former employees of the Company and their relatives. The EBT is primarily intended to reward employees, not management, who have shown commitment to the Company and who are deemed to be integral to its future success.

Following this transaction, the EBT holds a total of 42,186 Ordinary Shares, representing 0.051 per cent of the Company's total voting rights and a total of 400,000 options over Ordinary Shares.

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For further information, please visit https://www.tengroup.com/ or contact:

Ten Lifestyle Group Plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer	[phone]
Peel Hunt LLP, Nominated Advisor and Broker Edward Knight Paul Gillam Nick Prowting	[phone]

 

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