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LONDON - The Law Debenture Corporation p.l.c. (LSE:LWDB), a diversified financial services group, has informed the market that its wholly owned subsidiary, The Law Debenture Trust Corporation (Channel Islands) Limited, acquired 7,521 of its ordinary shares on Wednesday. The shares, each valued at 5 pence, were bought at £8.70 per share, amounting to a total investment of £65,432.70.
The transaction was carried out under the framework of a Trust Deed dated April 23, 2002, which established the Trustee as the administrator of the Corporation’s Employee Share Ownership Trust (the "Trust"). This Trust is designed to facilitate the granting of shares to senior staff as part of employee share schemes that have been previously sanctioned by the shareholders of the Corporation.
The purchased shares are intended to be used as a reinvestment of dividends that have been generated from shares already held within the Trust. This reinvestment strategy aligns with the Corporation’s policy to encourage employee ownership and align staff interests with those of the shareholders.
The Law Debenture Corporation operates in the financial industry and is registered in England, with its shares traded on the London Stock Exchange (LON:LSEG). The company’s activities span a range of services, including corporate trusts, pension trusts, and other related financial and professional services.
The information regarding this share purchase is based on a press release statement and has been officially announced through RNS, the news service of the London Stock Exchange. The Financial Conduct Authority has authorized RNS as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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