Bytes Technology Group plc has announced the granting of options to employees under its Sharesave Scheme. This move aims to encourage wider employee share ownership.
Details of the Grant
On June 28, 2024, Bytes Technology Group plc granted options over 449,394 ordinary shares. Each share has a nominal value of £0.01. The options were granted under the Bytes Technology Group Sharesave Scheme, an HM Revenue & Customs approved scheme.
Scheme Overview
The Sharesave Scheme is designed to foster employee share ownership. The options granted are exercisable at £4.57 per ordinary share. The exercise period starts on August 1, 2027.
Grant of Options Breakdown
The total grant of options from 2021 to 2024 represents 0.73% of the Company’s existing share capital. The table below outlines the details of each scheme:
| Scheme Year | Exercise Price | Exercise Date |
|---|---|---|
| 2021 | £4.00 | 1 August 2024 |
| 2022 | £3.72 | 1 August 2025 |
| 2023 | £3.92 | 1 August 2026 |
| 2024 | £4.57 | 1 August 2027 |