Establishment of Employee Benefit Trust

RNS Number : 6903U

SpaceandPeople PLC

03 August 2022

 

SpaceandPeople plc

("SpaceandPeople" or the "Company")

Establishment of Employee Benefit Trust

SpaceandPeople, (AIM:SAL) the retail, promotional and brand experience specialist, announces that it has established an Employee Benefit Trust,  called the  SpaceandPeople plc Employee Benefit Trust (the "EBT"). The EBT will be for the benefit of current and future employees.

The EBT will act independently of the Company, by JTC Employer Solutions Trustee Limited, and is expected to make market purchases of the ordinary shares of the Company ("Ordinary Shares")  in order to, among other things, satisfy current and potential future option exercises of vested options granted pursuant to the Company's share option agreements (the "Market Purchases").

The EBT will be funded by way of a loan from the Company and the Board believes that the formation of the EBT will help the Company in attracting new talent and incentivising existing members of the management team. The maximum amount of the loan to be made available to the EBT at any time shall be capped at £200,000 unless varied by agreement between the Company and the trustees of the EBT.

Enquiries

SpaceandPeople plc

Nancy Cullen, Gregor Dunlay        0845 241 8215

Zeus (Nominated Adviser and Broker)

David Foreman, Jamie Peel      020 3829 5000 

 

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