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Peel Hunt Limited announced on 4 March 2022 that it recommended its Employee Benefit Trust (EBT) acquire up to 1% of the Company's issued share capital. This acquisition is intended to occur over the next twelve months to satisfy future share awards to employees.
| Date | 4 Mar 2022 |
| Time | 07:00:10 |
| Category | Capital structure |
| ID | 6130D |
4 March 2022
Peel Hunt Limited
("Peel Hunt" or the "Company")
Purchase of shares by Employee Benefit Trust
The Company and its group (the "Group") have an established Employee Benefit Trust (the "EBT") in respect of the Group's share plans which is funded by the Group and has the power to acquire ordinary shares from the Group or in the open market to meet the Group's future obligations under these plans. The EBT is a discretionary trust for the benefit of employees. The Company announces that it has initially provided a recommendation (the "Recommendation") to the independent trustee of the EBT, to acquire up to 1% of the issued share capital of the Company over the next twelve months to satisfy share awards to employees. Staff equity ownership and incentivisation have been key to the success of the Group in the past and the directors believe will continue to be crucial to future success. The Recommendation has been given in a manner which will allow the EBT to make purchases through close periods. The Company will either announce, or disclose in its Annual Report, any amendments or updates to the Recommendation.
For further information, please contact:
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Peel Hunt via Engine MHP
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+44 (0)20 3128 8540 |
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Steven Fine, CEO
Sunil Dhall, CFOO |
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Engine MHP (Financial PR)
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+44 (0)20 3128 8540 |
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Andrew Jaques
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Charlie Barker
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Rachel Mann
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Robert Collett-Creedy
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Grant Thornton UK LLP (Nominated Adviser)
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+44 (0)20 7728 2942 |
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Colin Aaronson
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Daphne Zhang
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Notes to editors:
Peel Hunt is a leading specialist in UK Investment Banking, ranked number one broker for UK mid and small-cap companies in Institutional Investor's latest Europe Survey. Our purpose is to nurture and guide people through the evolution of business. We achieve this through a proven, joined-up approach that consistently delivers value to UK corporates, global institutions and trading counterparties alike.
We have 163 corporate clients (including 33 in the FTSE 100 and FTSE 250), with an average market capitalisation of approximately £700m. Our award-winning research is distributed to over 1,245 institutions across the UK, Europe and US. Our trading platform makes markets in over 10,000 instruments in 38 markets and is an increasingly important provider of trade execution services to the UK retail platforms and brokers.