Last checked at 22 Dec 2023 07:00
Norcros plc
("Norcros", the "Group" or "the Company")
22 December 2023
Employee SAYE awards and director share dealing
Norcros announces that the Company has today been notified of the following share option grant to a Director of the Company under the Group's Save as You Earn ("SAYE") scheme. The SAYE scheme is approved in the UK by HM Revenue and Customs and has an unapproved section for certain non-UK employees.
Pursuant to the SAYE scheme, certain employees have chosen to participate resulting in them today being granted options to subscribe for up to 780,078 in aggregate ordinary shares of ten pence each in the capital of the Company ("SAYE Options") at a price of 141.0p per share.
Pursuant to these all-employee SAYE scheme awards, James Eyre, the Chief Financial Officer, has received 13,156 SAYE Options.
Subject to certain conditions being satisfied, the entitlement to subscribe for shares resulting from the SAYE Options will arise in 2027 at the end of the three-year SAYE scheme savings contract period. Participants who choose to exercise their entitlements pursuant to the rules of the SAYE scheme will meet the obligation to pay for the resultant shares out of funds they have paid into the SAYE scheme prior to such exercise. Participants in the SAYE scheme may opt to withdraw from the SAYE scheme, recovering paid-in funds, prior to that time.
Further enquiries:
Norcros plc | Tel: 01625 547700 |
Thomas Willcocks, Chief Executive Officer | |
James Eyre, Chief Financial Officer | |
Hudson Sandler (Norcros Financial PR) | Tel: 0207 796 4133 |
Nick Lyon Lucy Wollam-Coles |
|
|
Notes to Editors
Norcros is a design and service led bathroom and kitchen business with market leading brands operating primarily in the UK and South Africa.
In the UK, Norcros operates under seven brands, Triton, Merlyn, Multipanel (Grant Westfield), Vado, Croydex, Abode, and Johnson Tiles.
In South Africa, Norcros operates under four brands, Tile Africa, House of Plumbing, TAL, and Johnson Tiles.
Norcros is headquartered in Wilmslow, Cheshire and employs around 2,400 people. The Company is listed on the London Stock Exchange. For further information please visit the Company website: http://www.norcros.com