Norcros PLC Employee SAYE awards and director share dealing (6957X)

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RNS Number : 6957X

Norcros PLC

22 December 2023

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: [phone] 
 Thomas Willcocks, Chief Executive 
  Officer 
 James Eyre, Chief Financial 
  Officer 
 
 Hudson Sandler (Norcros Financial   Tel: [phone] 
  PR) 
 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

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December 22, 2023 02:00 ET (07:00 GMT)