Workers buy into print firm’s share option scheme

Listed Manchester print and website design firm Grafenia – which has undergone significant restructuring – has announced a save as you earn share scheme which has been taken up by 49 of its 130 staff.

Under the SAYE scheme requires employees to commit to making a fixed regular payment of between £5 and £500 for 36 months.

The instalments are paid into a savings account, operated by Royal Bank of Scotland, held independently from the company.

Eligible employees have been invited to subscribe for options over ordinary shares of 1p each in the company with an exercise price of 7.75p, representing the closing mid-market price of the ordinary shares on the day prior to the invitation to participate which was made on February 3.

The options have a savings contract start date of March 1 2017 and are exercisable when all 36 payments have been made, between March 1, 2020 and August 31, 2020.

Chief executive Peter Gunning said: “Our people are critical to the future success of our business. Attracting and retaining talent is vital in today’s competitive environment.

“We’re delighted that so many of the team have chosen to participate in the SAYE scheme. It demonstrates a desire to align their interests with those of all shareholders and to think of themselves as deeper stakeholders in the growth of our business.”

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