LONDON - Avon Technologies plc (LSE:AVON), a leading technology firm, announced that three of its top executives acquired shares as part of the company’s Share Incentive Plan (SIP). The transactions took place on the London Stock Exchange (LON:LSEG) on Wednesday.
The SIP, approved by HM Revenue and Customs, allows employees to purchase Avon shares with deductions from their monthly salaries. The plan aims to align the interests of the staff with those of the shareholders.
Jos Sclater, Avon’s CEO, Rich Cashin, the CFO, and Gabriella Colley, Director of Corporate Affairs, participated in the latest share purchase. Each executive acquired shares at a price of GBP 15.18. Sclater and Cashin both bought 10 shares, totaling GBP 151.80 each, while Colley acquired 6 shares for a total of GBP 91.08.
The company disclosed these transactions in compliance with the EU Market Abuse Regulation and section 793 of the Companies Act 2006. The disclosure is a part of the regulatory requirements to ensure transparency in the financial activities of persons discharging managerial responsibilities.
Avon Technologies has been proactive in maintaining an open and transparent relationship with its shareholders and the wider market. The share purchases by the executives are a testament to their belief in the company’s future performance and prospects.
Investors often view such purchases as a positive signal about the company’s health and leadership’s confidence in its strategic direction. Avon’s leadership has consistently emphasized the importance of employee ownership as a cornerstone for driving the company’s success.
This announcement was made based on a press release statement and provides a factual report of the share acquisitions by Avon Technologies’ executives.
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