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31 Oct 2008 15:24
MATCHTECH GROUP ("the Company")
31 October 2008
The Matchtech Group plc Share Incentive Plan ("SIP")
The Company announces the purchase on 31 October 2008 of 1,529 ordinary shares of 1p each in the Company ("Shares") to Matchtech Engineering Limited ("the Trustee"), at a price of £2.20 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 HM Revenue & Customs as a share incentive plan under Schedule 8 to the Finance Act 2000.
Following this transaction the Trustee will hold 135,831 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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