LONDON - Ninety One plc and Ninety One Limited, part of a dual-listed company structure, have reported an on-market acquisition of shares by their employee benefit trust. The transaction involved the purchase of 40,291 ordinary shares at a price of £1.602 each, totaling £64,546. This move was made on behalf of the Ninety One Share Incentive Plan 2020 and took place on Wednesday.
The shares, identified by the ISIN GB00BJHPLV88, were acquired on the London market, with the necessary clearance obtained prior to the transaction. The Ninety One Share Incentive Plan 2020 is designed to facilitate employee ownership within the company, aligning staff interests with those of shareholders.
This financial activity falls under the compliance requirements of the JSE Limited Listings Requirements, as both Ninety One plc and Ninety One Limited are listed on the London and Johannesburg Stock Exchanges. The company has ensured that all regulatory guidelines have been followed.
The information regarding this dealing in securities was released to the public in accordance with the rules of the London Stock Exchange (LON:LSEG), where RNS, the exchange's news service provider, disseminated the details. The transaction reflects the ongoing commitment of Ninety One to incentivize and reward its employees through share ownership.
Investors and market watchers often view such transactions as a sign of a company's confidence in its own stock and a means to foster a culture of investment among its employees. Ninety One's share incentive plan is a common mechanism used by publicly traded companies to engage employees in the long-term success of the firm.
This news is based on a press release statement and is intended to provide shareholders and the broader market with transparent information on the latest dealings of Ninety One plc and Ninety One Limited.
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