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LONDON - Hargreaves (LON:HRGV) Services plc (AIM:HSP), a UK-based diversified service provider, has announced the transfer of 15,777 ordinary shares from its treasury on Monday. These shares were distributed to satisfy the exercise of options granted under the Company’s Deferred Share Bonus Scheme, with an exercise price of nil pence per share.
Following this transaction, Hargreaves Services now retains 136,444 ordinary shares in treasury. The total number of voting rights in the company stands at 33,002,312. This figure is significant for shareholders as it represents the denominator for the calculations by which they will determine if they are required to notify their interest in the company or any changes to it, as per the Disclosure and Transparency Rules.
The transfer of shares from treasury is a routine practice for managing equity incentives within a company. Hargreaves Services, which operates in the environmental, infrastructure, and property sectors, uses such transactions to fulfill the obligations of its employee incentive schemes.
Hargreaves Services, headquartered in County Durham, operates across the UK, with additional presence in Hong Kong and a joint venture in Germany. The company provides materials handling, mechanical and electrical contracting services, logistics, major earthworks, and specializes in the development of brownfield sites.
The company’s strategic management of its share capital and employee incentives reflects its ongoing operations and commitment to its workforce. The information regarding this transfer is based on a press release statement from Hargreaves Services plc.
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