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28 Jul 2008 10:40
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MATCHTECH GROUP ("the Company")
28 July 2008
The Matchtech Group plc Share Incentive Plan ("SIP")
The Company announcesΒ the purchase onΒ 25 July 2008Β ofΒ 1,237Β ordinary shares of 1p each in the Company ("Shares")Β byΒ Matchtech Engineering LimitedΒ ("the Trustee"), at a price ofΒ Β£2.68Β pence per Share, for the purpose of satisfying the purchase of Shares by eligible employees (including executive directors) under the SIP for the current month. The SIP has been approved by HMΒ RevenueΒ & CustomsΒ as a share incentive plan under Schedule 8 to the Finance Act 2000.
Following this transaction the Trustee will holdΒ 133,825Β Shares, all of which are held on behalf of eligible employees pursuant to the terms of the SIP.
The beneficial ownership of the shares awarded under the matching element of the SIP will pass to Paul Raine, Tony Dyer and Adrian Gunn in three years time subject to continued employment and the retention of the underlying shares purchased on their behalf.
END
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