SMRT.L Regulatory News (SMRT)

11 November 2016

RedstoneConnect plc

("RedstoneConnect" or "the Company")

Employee Share Scheme

RedstoneConnect plc (AIM: REDS), a leading international provider of technology and services for smart buildings and commercial spaces, is pleased to announce that it has launched a Save as You Earn share scheme for all employees (the "SAYE Scheme"). Under the SAYE Scheme, employees have been offered the opportunity to participate in the future growth of the Company through the granting of share options.

Eligible employees were invited to subscribe for options over ordinary shares of 0.1 pence each ("Ordinary Shares") with an exercise price of 1.265 pence per share, representing a 20 per cent discount to the average closing mid-market price of the Ordinary Shares over three days prior to the invitation to participate which was made on 13 October 2016. The options have a savings contract start date of 1 December 2016 and are exercisable between 1 December 2019 and 1 May 2020. 

A total of 68 employees elected to participate in the SAYE Scheme and, pursuant to this, a grant of 23,677,458 options over Ordinary Shares was made on 8 November 2016, equating to 1.4 per cent of the combined issued share capital.

Mark Braund, Chief Executive, commented:

"I am delighted that so many of RedstoneConnect's employees have chosen to participate in the future growth of our company via this SAYE Scheme. In doing so, they are further aligning their interests with those of all shareholders."

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About RedstoneConnect Plc

RedstoneConnect Plc is focused on technologies that makes real estate more efficient and businesses more effective. Its core businesses, Redstone and Connect IB, provide the infrastructure capabilities and the software applications to deliver Smart Buildings and Smart Workspace Solutions for commercial businesses, public sector organisations and real estate owners and managers.