LONDON – The Law Debenture Corporation p.l.c. (LSE:LWDB), a British investment trust and corporate services company, has announced that its wholly owned subsidiary, The Law Debenture Trust Corporation (Channel Islands) Limited, has acquired 6,221 ordinary shares at a price of £9.009876 each on Thursday. This transaction is part of the reinvestment of dividends from shares held in the Corporation’s Employee Share Ownership Trust, which is designated for senior staff under employee share schemes.
The shares, each with a nominal value of 5 pence, were bought back as part of the existing arrangements under a Trust Deed dated April 23, 2002, where the Trustee was appointed to oversee the Corporation’s Employee Share Ownership Trust. The purchase follows the company’s practice of granting shares to senior staff as a form of incentive, which has been previously approved by the shareholders of the Corporation.
The Law Debenture Corporation, with its registered office at 100 Bishopsgate in London, operates through various subsidiaries providing a range of investment and corporate services. The Corporation is listed on the London Stock Exchange (LON:) and has been a fixture in the British financial landscape for many years.
The transaction reflects the company’s ongoing commitment to its employee share ownership plan, which aims to align the interests of senior staff with those of the shareholders by making them part owners of the company.
This financial activity was reported by RNS, the news service of the London Stock Exchange, and is based on a press release statement. The Law Debenture Corporation is registered in England and has an LEI number of 2138006E39QX7XV6PP21.
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