Examples of Share Plans in a sentence
Pursuant to these hedging arrangements, the Target has a contractual entitlement to buy existing Britvic Shares totalling 1,785,000 at an agreed price, (the “Hedged Shares”) and the Target may make a recommendation to the trustee of the Britvic Employee Share Trust to purchase such Hedged Shares at the agreed price for the purpose of satisfying awards under the Target Share Plans.
The hedging arrangements are in six tranches and will mature by 24 January 2025, or may be settled early, and so it is expected that the Hedged Shares will be used to satisfy awards under the Share Plans in due course.
For the avoidance of doubt, the operation of the Target Share Plans includes (without limitation): granting Awards, determining the extent to which Awards vest, and satisfying the vesting of Awards and the exercise of Awards granted in the form of options.
Further details of the terms of such proposals shall be included in the Scheme Document (or, if Xxxxxxxxx has elected (with the consent of the Panel and subject to the terms of the Cooperation Agreement) to exercise its right to implement the Acquisition by way of an Offer, the Offer Document) and in separate letters to be sent to participants in the Britvic Share Plans.
Participants in the Britvic Share Plans will be contacted regarding the effect of the Acquisition on their rights under the Britvic Share Plans and, where required, appropriate proposals shall be made to such participants pursuant to Rule 15 of the Takeover Code in due course.