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LONDON - GSK plc (LSE:GSK) transferred 22 million ordinary shares from its treasury holdings to its Jersey-based employee trust on November 18, according to a company statement released Wednesday.
The shares, which represent approximately 0.54% of the company's total ordinary shares, will be used to satisfy awards under GSK's Deferred Annual Bonus Plan, Performance Share Plan and Share Value Plan. The Jersey Trust paid £17.995 per share, with funding provided through a loan from GlaxoSmithKline Services Unlimited.
Following the transaction, GSK now holds 234,819,844 ordinary shares in treasury, representing 5.75% of voting rights. The company has 4,080,611,266 ordinary shares in issue, excluding treasury shares.
GSK noted in its press release that this figure may be used by shareholders as the denominator for calculations to determine if they are required to notify their interest in the company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The announcement was made in accordance with UK Listing Rule 9.8.2, which requires companies to disclose certain transactions involving treasury shares.
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