REG - Reach PLC - Purchase of Shares for the Employee Benefit Trust

ReachAnnouncement

17/09/2024 11:00

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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                 020 7293 3000

 Darren Fisher, Chief Financial Officer

 Laura Harris, Group Company Secretary

 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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