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LONDON - Science Group plc (AIM:SAG), a company specializing in science and technology consulting, has announced the issuance of 10,000 treasury shares on Monday at an average price of 1 pence per share. This move was made in settlement of the exercise of share options by the company’s employees or other option holders.
Following this issuance, the total number of ordinary shares in issue, excluding treasury shares, stands at 44,647,705. Science Group now holds 1,538,169 shares in treasury. Shareholders can use the figure of 44,647,705 as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the company. These notifications are part of the requirements under the Financial Conduct Authority’s (FCA) Disclosure Guidance and Transparency Rules.
The issuance of treasury shares is a common practice for companies to manage their capital structure and to fulfill obligations such as employee share option plans. The use of treasury shares can be an efficient way to reward and incentivize employees without the need to issue new shares, which can dilute the value for existing shareholders.
Science Group’s announcement is based on a press release statement and provides the latest details on the company’s share capital and treasury shares, which are of interest to current and potential investors, as well as regulatory bodies.
Investors and stakeholders in Science Group plc are advised to take note of this latest development as it may influence their investment decisions and the need to disclose changes in shareholding as per regulatory requirements.
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