t
Synectics plc announced on 20 May 2026 its intention to fund its Employee Benefit Trust (EBT) with up to £1.5 million. Quadnetics Employees' Trustees Limited, the Trustee of the EBT, will use these funds to make market purchases of Synectics plc ordinary shares of 20 pence each, up to a value of £1.5 million. This funding and share purchase, involving Paul Williams (Chief Financial Officer and Director of Synectics and a Director of the Trustee), was deemed a related party transaction, with independent Directors confirming its terms as fair and reasonable.
| Date | 20 May 2026 |
| Time | 07:00:06 |
| Category | Miscellaneous |
| ID | 9779E |
|
20 May 2026 |
|
Synectics plc
("Synectics", the "Company" or the "Group")
Funding of EBT to Acquire Ordinary Shares
and
Related Party Transaction
Synectics plc (AIM: SNX), a leader in advanced security and surveillance solutions, announces that the Company intends to fund its employee benefit trust ("EBT") with up to £1.5 million in order for Quadnetics Employees' Trustees Limited, the Trustee of the EBT (the "Trustee"), to make market purchases of ordinary shares of 20 pence each in the Company ("Ordinary Shares"). The Ordinary Shares purchased by the Trustee will then be held by the EBT to satisfy future employee share-based compensation awards.
The Trustee will instruct Singer Capital Markets ("SCM"), as broker, to acquire the Ordinary Shares for the EBT. Purchases will be up to £1.5 million in value of Ordinary Shares (by market value and exclusive of stamp duty and commissions). Paul Williams, Chief Financial Officer and Director of Synectics, is also a Director of the Trustee.
Related Party Transaction
As certain Directors of the Company are potential beneficiaries of the market purchases of Ordinary Shares by the EBT, as well as Paul Williams being a Director of the Trustee of the EBT, the EBT is deemed to be a related party of the Company. The funding by the Company of the EBT to make such market purchases of Ordinary Shares is deemed to constitute a related party transaction under AIM Rule 13.
The independent Directors of the Company (being all Directors excluding Amanda Larnder, Chief Executive Officer and Paul Williams), having consulted with the Company's nominated adviser SCM, confirm that they consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
For further information, please contact:
|
Synectics plc Amanda Larnder, Chief Executive Officer Paul Williams, Chief Financial Officer Claire Stewart, Company Secretary email: [email protected] |
Tel: +44 (0) 114 280 2828 |
|
|
|
|
Singer Capital Markets |
Tel: +44 (0) 20 7496 3000 |
|
Jen Boorer / James Fischer / Patrick Weaver |
|
|
|
|
|
Vigo Consulting Jeremy Garcia / Fiona Hetherington |
Tel: +44 (0) 20 7390 0230 |
About Synectics plc
Synectics plc (AIM: SNX) is a leader in advanced security and surveillance solutions that help protect people, property and assets around the world.
It transforms customer operations by seamlessly integrating systems, technologies, and data into a unified solution-enhancing safety, improving efficiency, and enabling smarter, faster decision-making and response capabilities.
With its technical expertise, decades of experience, and strong partnerships, Synectics sets itself apart by delivering innovation and service that drive real value and long-term success.
Find out more at www.synecticsplc.com.