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31 Oct 2008 15:24
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MATCHTECH GROUP ("the Company")
31 October 2008
The Matchtech Group plc Share Incentive Plan ("SIP")
The Company announcesΒ the purchase onΒ 31 October 2008Β ofΒ 1,529Β ordinary shares of 1p each in the Company ("Shares")Β toΒ Matchtech Engineering LimitedΒ ("the Trustee"), at a price ofΒ Β£2.20Β 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 135,831Β 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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