Escape Hunt PLC Share Incentive Plan, Issue of Equity and TVR (0660O)
February 05 2021 - 2:00AM
UK Regulatory
TIDMESC
RNS Number : 0660O
Escape Hunt PLC
05 February 2021
5 February 2021
Escape Hunt plc (AIM: ESC)
("Escape Hunt" or the "Company")
Establishment of Share Incentive Plan,
Allotment of new Ordinary Shares
and
Total Voting Rights
Establishment of the Escape Hunt plc Share Incentive Plan
Escape Hunt, a global leader in the growing escape room sector,
announces the establishment and launch of a new HMRC tax-advantaged
all employee share scheme, namely the Escape Hunt plc Share
Incentive Plan (the "SIP" or the "Plan").
The SIP has been adopted to promote and support the principles
of wider share ownership amongst all the Company's employees. The
Plan is available to all eligible employees, including Escape
Hunt's executive directors, and invites individuals to elect to
purchase ordinary shares of 1.25p each in the Company ("Ordinary
Shares") via the SIP trustee using monthly salary deductions.
Shares will be purchased monthly by the SIP trustee on behalf of
the participating employees at the prevailing market price.
Individual elections can be as little as GBP10 per month, but may
not, in aggregate, exceed GBP1,800 per employee in any one tax
year. The Ordinary Shares acquired in this manner are referred to
as "Partnership Shares" and, for each Partnership Share purchased,
participants will be awarded one further Ordinary Share, known as a
"Matching Share", at nil cost.
Matching Shares must normally be held in the SIP for a minimum
holding period of 3 years and, other than in certain exceptional
circumstances, will be forfeited if, during that period, the
participant in question ceases employment or withdraws their
corresponding Partnership Shares from the Plan.
The initial purchases of Partnership Shares and awards of
Matching Shares under the Plan will take place in early March 2021
and are expected to continue monthly thereafter.
Allotment of Ordinary Shares and Total Voting Rights
It is currently expected that:
-- all Partnership Shares acquired monthly by the SIP trustee on
behalf of participants in the SIP will be existing Ordinary Shares
purchased in the market; and
-- all Matching Shares awarded to the above individuals will be
new Ordinary Shares allotted to the SIP trustee.
Given the above, and in order to provide for the anticipated
demand for Matching Shares over the next 12 months, the Company
announces that, on 4 February 2021, it allotted 125,000 new
Ordinary Shares (the "New Ordinary Shares") to the trustee of the
SIP, such shares representing 0.14% of the issued share capital of
the Company.
It is anticipated that the New Ordinary Shares, which will rank
pari passu in all respects with the existing ordinary shares of the
Company, will be admitted to trading on AIM on 10 February 2021
("Admission"). Following Admission, the Company's issued share
capital will comprise 88,620,091 Ordinary Shares with voting rights
and that figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules. The
Company does not hold any shares in treasury.
Commenting on the Plan, Richard Harpham, CEO of Escape Hunt,
said: "We are delighted to have been able to put this SIP in place
and believe that offering all our employees the opportunity to own
a stake in the Company through a tax efficient scheme, which
rewards loyalty, will both incentivise and reward the individuals
who are so important to the future of the business."
Enquiries:
Escape Hunt plc +44 (0) 20 7846 3322
Richard Harpham (Chief Executive Officer)
Graham Bird (Chief Financial Officer)
Kam Bansil (Investor Relations)
Shore Capital, NOMAD and Joint Broker +44 (0) 20 7408 4050
Tom Griffiths, David Coaten (Corporate Advisory)
Fiona Conroy (Corporate Broking)
Zeus Capital, Joint Broker +44 (0) 20 3829 5000
John Goold
Daniel Harris
IFC Advisory, Financial PR +44 (0) 20 3934 6630
Graham Herring
Florence Chandler
Notes to Editors
About Escape Hunt plc
The Escape Hunt Group is a global leader in providing
escape-the-room experiences delivered through a network of
owner-operated sites in the UK, an international network of
franchised outlets in five continents, and through digitally
delivered games which can be played remotely. Its products enjoy
consistent premium customer ratings and cater for leisure or
teambuilding, in small groups or large, and are suitable for
consumers, businesses and other organisations. Having been
re-admitted to AIM in May 2017, the Company has a strategy of
creating high quality premium games and experiences delivered
through multiple formats and which can incorporate branded IP
content. (https://escapehunt.com/)
Facebook: EscapeHuntUK
Twitter: @EscapeHuntUK
Instagram: @escapehuntuk
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