Overview#
The Law Debenture Corporation p.l.c. has announced that its subsidiary, The Law Debenture Trust Corporation (Channel Islands) Limited, purchased 5,946 ordinary shares in the company. This acquisition took place on Tuesday, as stated in a press release.
Details of the Purchase#
The shares have a nominal value of 5 pence each and were bought at a price of £11.59 per share. This purchase is part of the subsidiary's role as the trustee of the Corporation’s Employee Share Ownership Trust, which was established under a Trust Deed dated April 23, 2002.
Purpose of the Acquisition#
The acquisition of these shares is a reinvestment of dividends that were received from shares already held within the Trust. These shares were previously granted to senior staff as part of employee share schemes that have received approval from the Corporation’s shareholders.
Company Information#
The Law Debenture Corporation is registered in England with the company registration number 30397.