Save As You Earn Share Option Scheme

RNS Number : 5098X

Redcentric PLC

01 September 2020

 

Redcentric plc

Save As You Earn Share Option Scheme

Redcentric (AIM:RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, is pleased to announce employee participation under the Company's HMRC approved Save As You Earn (SAYE) Option Plan 2014. The scheme was established in order to offer Redcentric's employees the opportunity to participate in the future growth of the Company.

Eligible employees were invited to subscribe for share options over ordinary shares in the Company of 0.1p each at an exercise price of 119.6p, representing a 20% discount to the average market price of Redcentric shares over the three days ended 5 August 2020, with a grant date of 28 August 2020 and an exercise date from 1 October 2023 onwards.

The scheme rules limit each employee to a maximum saving of £500 per month over the three-year period of the scheme. A total of 92 employees elected to participate, giving rise to the grant of a total of 521,782 share options (equivalent to 0.3% of the Company's current issued share capital).

Enquiries:

Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer	[phone]
finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM)	[phone]

 

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