LONDON - Motorpoint Group plc, the UK's leading independent omnichannel vehicle retailer, has announced the launch of its 2025 Save As You Earn (SAYE) share scheme for all permanent employees. The scheme, which is approved by HM Revenue and Customs, allows employees to subscribe for options over the company's ordinary shares at a discounted exercise price.
Eligible staff were offered the options at 117.75 pence per share, a 10% discount based on the average closing price over the three days ending on December 2, 2024. The options are set to begin on February 1, 2025, and will be exercisable from February 1, 2028, to July 31, 2028.
A total of 320 Motorpoint employees, including two key executives, have chosen to participate, resulting in 1,112,494 shares under option, which corresponds to 1.28% of the current issued share capital. CEO Mark Carpenter and CFO Chris Morgan are among the participants, each with 4,700 shares under option.
This move reflects Motorpoint's commitment to employee engagement and ownership within the company, aligning the interests of the staff with those of the shareholders. The announcement was made in compliance with the UK Market Abuse Regulation, detailing the specifics of the options granted.
The information for this article is based on a press release statement from Motorpoint Group plc.
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