Last checked at 14 Dec 2023 07:00
14 December 2023
Begbies Traynor Group plc
Employee Benefit Trust Purchase Plan
The Company confirms today that its Employee Benefit Trust ("EBT" or the "Trust") the trustee of which is JTC Employer Solutions Trustee Limited, has entered into a trading plan ("the EBT Purchase Plan") to acquire ordinary shares of 5p each in the capital of the Company ("Ordinary Shares").
It is the Company and the EBT's intention that any Ordinary Shares acquired by the EBT will be used to satisfy the awards of share options granted to employees of the Company (or for such other purposes as may be required of the Trust from time to time).
Purchases under the EBT Purchase Plan will be limited to a monthly maximum value of £750,000 with an aggregate limit of £3 million over the term of the plan. The maximum price paid for such Ordinary Shares shall be an amount equal to the higher of: (i) 5% above the average of the middle market quotations for such Ordinary Shares for the preceding five business days immediately preceding the day on which the purchase is made; (ii) the price of the last independent trade of Ordinary Shares on the venue where the purchase is carried out; and (iii) the highest current independent bid for an Ordinary Share as derived from the trading venue where the purchase is carried out.
The EBT Purchase Plan will, unless terminated by the Trustee at an earlier date, expire on 31 July 2024.
JTC Employer Solutions Trustee Limited, as Trustee of the EBT, has absolute discretion and independence in respect of all trading decisions it may make in respect of the market purchases of Ordinary Shares pursuant to the EBT Purchase Plan.
Further announcements will be made as and when any trades are undertaken by the EBT.
Enquiries please contact:
Begbies Traynor Group plc 0161 837 1700
Ric Traynor - Executive Chairman
Nick Taylor - Group Finance Director
Canaccord Genuity Limited 020 7523 8350
(Nominated Adviser and Joint Broker)
Emma Gabriel / Harry Pardoe
Shore Capital (Joint Broker) 020 7408 4090
Malachy McEntyre / Mark Percy / Anita Ghanekar / James Thomas
MHP 020 3128 8100
Reg Hoare / Katie Hunt / Charles Hirst begbies@mhpgroup.com
Information on Begbies Traynor Group can be accessed via the group's website atwww.ir.begbies-traynorgroup.com