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LONDON - Earnz plc (AIM:EARN), an energy services company focused on global decarbonization, announced Thursday it has launched a new Save As You Earn share scheme for eligible UK-based employees.
The 2025 SAYE Scheme allows employees to make monthly salary deductions over three years, granting them options to purchase the company’s ordinary shares at a discounted price of 4.2 pence per share. This represents a 15% discount to the average closing price over the three preceding days.
Participants can withdraw from the scheme at any point to recover their funds, or exercise their options after completing 36 monthly payments.
Additionally, the company granted Nil Cost Options under its Long Term Incentive Plan to two executives: Chief Executive Officer Peter Smith and Chief Financial Officer Elizabeth Lake each received options for 1,000,000 ordinary shares. These awards will vest on the third anniversary of the grant date, subject to meeting specified share price performance targets.
Earnz also announced modifications to previously awarded executive options. The company’s Remuneration Committee revised the calculation basis for options granted to Bob Holt, Elizabeth Lake, and John Charlton. Instead of being based on the company’s issued share capital at the "Vesting Date," the options will now be calculated based on the "Admission Date."
This change reduces the number of options awarded to CEO Bob Holt from 4,017,251 to 3,066,192, while CFO Elizabeth Lake and Company Secretary John Charlton will each receive 1,022,064 options instead of 1,339,084. According to the company’s statement, these adjustments were made to simplify the awarding of share incentives.
All other conditions attached to the LTIP options remain unchanged, according to the company’s press release.
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