As previously announced on 5 February 2021, the SIP is a tax-advantaged all-employee share scheme under which eligible participating employees of XP Factory can elect to purchase ordinary shares of 1.25p each in the Company (“Ordinary Shares”) via the SIP trustee using monthly salary deductions. Ordinary Shares acquired in this manner are referred to as “Partnership Shares” and, for each Partnership Share purchased, participants are awarded one further Ordinary Share, known as a “Matching Share”, at nil cost.
On 12 April 2022, XP Factory received notification from Yorkshire Building Society, the trustee of the SIP, that, on 11 April 2022, it purchased an aggregate of 1,944 Partnership Shares in the market at a price of 30.85 pence per share on behalf of those Directors / PDMRs set out in the table below. At the same time, these individuals were also awarded (for no consideration) their corresponding Matching Shares.
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