Employee Benefit Trust Share Subscription
Summary by AI BETAClose X
UK Energy Group PLC
("UKEn" or the "Company")
Employee Benefit Trust Share Subscription
UK Energy Group PLC (AIM: UKEN) announces that, further to the establishment of the Company’s Employee Benefit Trust (“EBT”) in September 2014, and in keeping with similar schemes operated by AIM listed entities, the directors have agreed to top-up the Company’s EBT ordinary shareholding to its original level of 10% of the Company’s issued share capital. Details of the EBT and the related employee share incentive plan (“SIP”) are given in the Company’s prior RNS of 29th September 2014.
Consequently, the Company’s EBT trustees, VG Corporate Trustee Limited (“Trustees”), have subscribed for 2,027,682,498 new ordinary shares in the Company ("EBT Shares") at a price per share of £0.000001, being the Company's nominal share value. Following the allotment of the new EBT Shares the Trustees will hold 3,852,595,183 shares representing 10% of the Company’s enlarged share capital. The Company has entered into a loan agreement with the Trustees to fund the subscription of the EBT Shares by the Trustees.
The EBT Shares shall be held in the EBT on trust pending the transfer upon vesting (or exercise, as the case may be) of any awards granted by the Company's Remuneration Committee to eligible employees and directors under the terms and vesting criteria of the Company’s SIP. Details of the grant of any future awards of EBT Shares will be notified upon determination by the Company’s Remuneration Committee of the beneficiaries of such awards, however no such determination has been made for the time being.
Admission
Application has been made for EBT Shares, numbering 2,027,682,498 ordinary shares in total, to be admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on or around 22nd October 2026.
Following Admission, the total voting rights in the Company will be 38,525,951,830 ordinary shares. Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure, Guidance and Transparency Rules.
For further information, please contact:
UK Energy Group PLC
Stephen Sanderson / Kris Bone / Guzyal Mukhametzhanova Tel: 0148 366 0400
Zeus (Nominated Adviser and Broker)
James Joyce / Andrew de Andrade Tel: 0203 829 5000
CMC Markets (Joint Broker)
Douglas Crippen Tel: 0203 003 8632
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