LONDON - Avon Technologies plc, a company listed on the London Stock Exchange (LON:LSEG), has reported that four of its key executives have recently acquired shares as part of the company's Share Incentive Plan (SIP). The transactions took place on Thursday, according to a regulatory filing with the London Stock Exchange.
The SIP is a scheme approved by HM Revenue and Customs that allows employees of Avon Technologies to purchase shares in the company using pre-tax salary deductions. This plan is designed to align the interests of the employees with those of the shareholders by providing a stake in the company's success.
The notification specified that the shares were acquired by the Company Secretary, Miles Ingrey-Counter; Chief Financial Officer, Rich Cashin; Chief Executive Officer, Jos Sclater; and Director of Corporate Affairs, Gabriella Colley. Each executive purchased shares at a price of GBP 13.86 per share. Ingrey-Counter and Cashin each bought 11 shares, totaling GBP 152.46 for their individual transactions. Sclater purchased 10 shares for a total of GBP 138.60, while Colley acquired 7 shares, amounting to GBP 97.02.
The disclosure of these transactions is a requirement under both section 793 of the Companies Act 2006 and the EU Market Abuse Regulation, specifically Article 19, which mandates the announcement of transactions by persons discharging managerial responsibilities.
The company, Avon Technologies plc, is identified by its Legal Entity Identifier (LEI) 213800JM1AN62REBWA71, and the shares were traded on the London Stock Exchange under the ticker GB0000667013.
This information is based on a press release statement and is intended to provide transparency regarding the financial interests of the company's executives. It does not serve as an endorsement of the company's performance or future prospects.
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