Reach PLC Purchase of Shares for the Employee Benefit Trust

RNS Number : 5213E

Reach PLC

17 September 2024

 

 

17 September 2024

 

Reach plc

("the Company")

Purchase of Shares for the Employee Benefit Trust

 

At the Company's 2024 AGM held on 2 May 2024, shareholders approved the operation of the Company's share plans within the 10% in 10 years share plans dilution limit only (removing the internal 5% in 10 years limit for selective plans). As part of this, the Company confirmed its intention to buy shares into the Reach Employee Benefit Trust ('EBT') when it was appropriate to do so to aid the management of overall dilution from share plans.

 

The Company has been notified by the Trustee of the EBT that the EBT has purchased a total of 590,205 Ordinary Shares of 10p each in the Company. Further detail is set out below.

 

Date	Exchange	Number of shares	Price per share (pence)
16 September 2024	XLON	590,205	100.953

 

The shares will be held in the EBT, which is a discretionary trust for the benefit of the Group's employees. The shares will be used to satisfy the exercise of share options by employees or the release of restricted shares, including to Persons Discharging Managerial Responsibility ('PDMRs') of the Company.

 

Further to this purchase, the EBT holds a total of 2,865,552 Ordinary Shares which represents 0.90% of the Company's issued share capital. The total number of Ordinary Shares of 10p each in issue (excluding treasury shares) is 318,041,503. 

 

The Company will continue to keep this under review, and will look to make further purchases into the EBT when it is appropriate to do so.

 

Enquiries
Reach plc
Jim Mullen, Chief Executive Darren Fisher, Chief Financial Officer Laura Harris, Group Company Secretary		020 7293 3000
Teneo
David Allchurch / Giles Kernick		020 7353 4200
LEI: 213800GNI5XF3XOATR61
Classification: 3.1 Additional regulated information required to be disclosed under the laws of the United Kingdom

 

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