Business
Doc re. share buy back and long term incentive
Doc re. share buy back and long term incentive.
About this update from R.e.a. Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 5458E R.E.A.Hldgs PLC 13 May 2013 \n \n\nR.E.A. Holdings plc (\"REA\" or the \"company\")\n \nProposals for the buy-back by REA of ordinary shares and the subsequent re-sale of such shares, as markets permit and for the establishment of a long term incentive for an executive director, and notice of an extraordinary general meeting\n \nIntroduction\n \nIt was stated in the company's recently published annual report 2012, the directors were considering seeking shareholder approval for the company to buy back shares into treasury with the intention that, whenever a holding of reasonable size has been accumulated, such holding be placed with one or more new investors (the \"share buy-back proposal\").\n \nIt was further stated that, following the appointment of a second executive director, Mr Mark Parry, to the board with effect from 1 January 2013, the directors were giving consideration to some form of long term performance related incentive for Mr Parry (the \"long term incentive\").\n \nFollowing such consideration, a circular is being sent to shareholders today setting out details of a share buy-back proposal and long term incentive proposal, together with a notice of extraordinary general meeting in connection with such proposals. The extraordinary general meeting is being convened for 10.30 am on 11 June 2013 (or so soon after 10.30 am as the annual general meeting of the company also convened for 11 June 2013 shall have been concluded or adjourned) to be held at the London offices of the company's solicitors, Ashurst LLP, at Broadwalk House, 5 Appold Street, London EC2A 2HA. \n \nShare buy-back proposal\n \nThe directors are aware that the market in the company's ordinary shares is at times limited, that purchases and sales of small numbers of shares can have a disproportionate effect on the ordinary share price and that the spread between the bid and offer prices of the ordinary shares is often large. The directors believe that there is potential demand for the company's ordinary shares but that this demand comes mainly from investors who wish to have holdings of a certain size and are generally not prepared to spend time accumulating such holdings from the trickle of small offerings that are normally available\n \nAccordingly, to address what ...