Last checked at 19 Dec 2018 10:09
19 December 2018
Forterra plc
Employee Benefit Trust Share Purchase
Further to the announcements made on 16 March 2018 and 16th April 2018, whereby Forterra plc (the "Company") announced that it had agreed that Link Trustees (Jersey) Limited acting as Trustee of the Forterra Employee Benefit Trust (the "Trust") would commence the purchase of ordinary shares of 1p each in the Company as part of a planned programme of monthly share purchases which was expected to last until the end of 2019. It was announced that approximately 240,000 shares would be purchased each month under this programme. These shares will ultimately be used by the Trust for the settlement of awards granted under the Company's employee share schemes, namely the Performance Share Plan (PSP), the Deferred Annual Bonus Plan (DABP) and the Sharesave Plan (SAYE).
Subsequently, on 18 December 2018 the Company has agreed that Link Trustees (Jersey) Limited acting as Trustee of the Forterra Employee Benefit Trust (the "Trust") will increase the rate of purchase of ordinary shares in the Company to approximately 450,000 shares each month.
There is no change to the expected total number of shares to be purchased by the Trust and it is now expected that the programme will last until July 2019 at which time the future share requirements of the Trust will be reviewed and, if appropriate, a further programme of purchases initiated.
At the date of this announcement the Trust held 2,052,664 ordinary shares in the Company representing 1.02% of the Company's current voting rights.
Enquiries
Forterra plc: | +44 (0) 1604 707 600 |
Ben Guyatt (Company Secretary) |