Yahoo Finance The Pebble Group PLC Announces Establishment of an Employee Benefit Trust
Establishment of an Employee Benefit Trust and Purchase of Shares
MANCHESTER, UK / ACCESSWIRE / December 8, 2023 / THE PEBBLE GROUP PLC ("The Pebble Group", or the "Group") (AIM:PEBB)(OTCQX:PEBBF) The Pebble Group, a leading provider of digital commerce, products and related services to the global promotional products industry, is pleased to announce it has established The Pebble Group Employee Benefit Trust (the "EBT").
Further to the establishment of the EBT, the Group funded the EBT by way of a gift and the Group received notification on 8 December 2023 from the EBT that the EBT had purchased a total of 716,195 ordinary shares of 1 pence each ("Ordinary Shares") at a price of £0.55 per Ordinary Share on 8 December 2023.
The EBT is a discretionary trust, which has been established for the benefit of employees and is administered by JTC Employer Solutions Trustee Limited. The EBT will be funded by the Company by way of either gift or loan. The Group may issue new Ordinary Shares to be subscribed for by the EBT or the EBT may make market purchases of Ordinary Shares to be held and used to satisfy the future vesting of share or share option awards granted to participants under the rules of The Pebble Group Long Term Incentive Plan ("LTIP"). Any New Ordinary Shares will rank pari passu with the Group's existing Ordinary Shares. The EBT has waived its rights to dividends.
Following the transaction, a total of 716,195 Ordinary Shares representing 0.43 per cent of the Group's total voting rights are held in the EBT.
Enquiries:
The Pebble Group Chris Lee, Chief Executive Officer | Temple Bar Advisory (Financial PR) Alex Child-Villiers |
Grant Thornton UK LLP (Nominated Adviser) | Berenberg (Corporate Broker) |
About The Pebble Group plc
The Pebble Group is a provider of digital commerce, products and related services to the global promotional products industry, comprising two differentiated businesses, Facilisgroup and Brand Addition, focused on specific areas of the promotional products market. For further information, please visit www.thepebblegroup.com.
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SOURCE: The Pebble Group PLC
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