Ashcourt Rowan PLC Share Incentive Scheme (9864H)
19 July 2012 - 1:03AM
UK Regulatory
TIDMARP
RNS Number : 9864H
Ashcourt Rowan PLC
18 July 2012
18 July 2012
ASHCOURT ROWAN PLC
("Ashcourt Rowan" or the "Company")
Share Incentive Plan
Ashcourt Rowan plc (AIM: ARP), the UK wealth management group,
confirms details of its HMRC-approved Share Incentive Plan ("SIP")
for which it has obtained a derogation under Rule 21 of the AIM
Rules. The SIP, which was established in 2006 and is administered
by Yorkshire Building Society (the "Trustee"), is available to all
employees of the Ashcourt Rowan Group, including executive
directors of the Company ("Directors"). The SIP is independently
administered by the Trustee, and the Trustee's purchasing decisions
under the SIP are not able to be influenced by the Company or any
participants
Under the terms of the SIP, participating employees (including
Directors) may purchase ordinary shares in the Company ("Shares")
on a monthly basis ("Partnership Shares") using deductions made
from their gross pay. In addition, for every one Partnership Share
purchased, the Company awards a participant with one additional
conditional Share ("Matching Shares"). The maximum contribution to
the SIP is GBP125 per month, provided the aggregate amount saved
over the relevant tax year by a participant does not exceed 10% of
his/her gross pay. Partnership Shares and Matching Shares are
purchased and awarded, respectively, by the Trustee on or around
the 4(th) day of each month and are registered in the name of
Brewin Nominees Limited a/c NTNL. Participants may take their
Partnership Shares out of the SIP at any time and may take their
Matching Shares out three years after their award date. No director
or applicable employee is permitted to enter or leave the SIP, or
to change the terms of their participation in or contributions to
the SIP, during a close period.The Company undertakes to announce
any future material changes in the operation of the SIP, and such
changes will be subject to consultation with its advisers and
AIM.
Pursuant to the derogation under AIM Rule 21, the Trustee will
continue to purchase Partnership Shares (and award Matching Shares)
on behalf of applicable employees and Directors during the
Company's close periods. However, applicable employees and
Directors will not be permitted to join or leave the SIP or change
their contributions during close periods.
Currently, no Directors have committed to participate in the
SIP. Should any Director (but not applicable employees) commit to
participate in the SIP in the future, details of their commitment
will be announced without delay, and any purchases by the trustee
on behalf of directors participating in the SIP will also be
disclosed without delay under AIM Rule 17.
For further information please contact:
Jonathan Polin, CEO Ashcourt Rowan plc
jonathanpolin@ashcourtrowan.com www.ashcourtrowan.com +44 (0) 20 7871 7373
Canaccord Genuity Limited
Martin Green/Bruce Garrow www.canaccordgenuity.com +44 (0) 20 7523 8350
Media enquiries:
MRM
Andrew Appleyard www.mrm-london.com +44 (0) 20 3326 9908
Notes to the editors:
Ashcourt Rowan is an AIM-listed wealth management business that
specialises in financial planning and investment management for
individuals and organisations. Headquartered in London the business
has over GBP4bn of client assets under management and advice and in
excess of 65,000 individual clients, which it services through a
team of over 100 financial advisers and investment managers located
in 17 offices spread across the UK. Further information on Ashcourt
Rowan can be found at www.ashcourtrowan.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCRPMATMBMBBTT
Ashcourt (LSE:ARP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ashcourt (LSE:ARP)
Historical Stock Chart
From Jul 2023 to Jul 2024