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LONDON - Avon Technologies plc, a company listed on the London Stock Exchange (LON:LSEG), disclosed on Wednesday that four of its top executives have acquired shares as part of the company’s Share Incentive Plan (SIP). The transactions, which took place on the same day, involved the purchase of ordinary shares at a price of GBP 14.47 each.
The SIP is a HM Revenue and Customs approved plan that allows employees to purchase shares of Avon Technologies using deductions from their monthly salary. This plan is designed to align the interests of employees with those of the company and its shareholders.
Jos Sclater, Avon’s Chief Executive Officer, acquired 11 shares, while Rich Cashin, the Chief Financial Officer, purchased 10 shares. Additionally, Gabriella Colley, the Director of Corporate Affairs, bought 7 shares. The total aggregated volume for these transactions was 28 shares, amounting to an aggregated total of GBP 405.16.
These acquisitions were conducted on the London Stock Exchange and are required to be publicly reported in accordance with section 793 of the Companies Act 2006 and the EU Market Abuse Regulation, specifically under article 19 which deals with transactions by persons discharging managerial responsibilities.
The company’s notification of these transactions provides transparency and ensures compliance with regulatory requirements. It is a common practice for companies to report such dealings by their executives, as it offers investors and the public insight into the confidence that management may have in the company’s future prospects.
The information for this report is based on a press release statement from Avon Technologies plc.
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