Business
Establishment of Share Incentive Plan
Establishment of Share Incentive Plan.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n \nRNS Number : 4604T B.P. Marsh & Partners PLC 29 March 2016 \n\nDate: \nOn behalf of: B.P. Marsh & Partners Plc\nImmediate Release\nB.P. Marsh & Partners Plc\n(\"B.P. Marsh\" or the \"Company\")\nEstablishment of a Share Incentive Plan\n \nB.P. Marsh, the niche venture capital provider to early stage financial services businesses, today announces that, as part of encouraging all employees to be shareholders in the Company, it has established an HMRC sanctioned Share Incentive Plan (\"SIP\").\n \nTherefore, a total of 97,652 ordinary shares of 10 pence each (\"Ordinary Shares\") in the Company, which are currently held in Treasury, have been transferred to the B.P. Marsh SIP Trust.\n \nA total of 9 employees were found to be eligible and applied for the 2015-16 SIP and have each today been granted 2,408 Ordinary Shares (\"15-16 Free Shares\"), representing £3,600 as at the current share price. The 15-16 Free Shares which have been awarded are subject to a 1 year forfeiture period.\n \nAdditionally, a total of 9 eligible employees applied for the 2016-17 SIP and will each be granted a number of Ordinary Shares (\"16-17 Free Shares\"), representing £3,600 at the price of issue. All eligible employees have been invited to take up the opportunity to acquire up to £1,800 worth of Ordinary Shares (\"Partnership Shares\"). For every Partnership Share that an employee acquires, the SIP Trust will offer two Ordinary Shares (\"Matching Shares\") up to a total of £3,600 worth of shares. The 16-17 Free, Partnership and Matching Shares will be awarded on 27th June 2016, with the 16-17 Free and Matching Shares being subject to a 1 year forfeiture period. \n \nThe Directors have participated in this award and further details of which (as at today's date) are set out below:\n \n\n\n\n\nDirectors \n\n\nOrdinary Shares held under SIP\n\n\nOrdinary Share held under JSOP\n\n\nOrdinary Shares held directly\n\n\n\n\nAlice Foulk \n\n\n2,408\n\n\n127,901\n\n\n\n\n\n\n\nDan Topping \n\n\n2,408\n\n\n355,283\n\n\n31,924\n\n\n\n\nJon Newman \n\n\n2,4...