NEWS22 April 2010

BrainJuicer buys back £1m in shares to fund incentive scheme

Financials UK

UK— BrainJuicer CEO John Kearon and investor Unilever Holdings today sold a combined 650,000 shares back to the online research agency, which it plans to use to establish an equity-based incentive scheme for employees and managers.

The proposed long-term incentive plan is to be put to a vote at the company’s upcoming AGM. In stock exchange filings, BrainJuicer says the scheme will support its “overall high growth strategy”.

BrainJuicer paid £1m to buy back stock from Kearon and Unilever, who each sold 325,000 shares. Combined, the buyback shares represent approximately five per cent of the company’s current issued share capital.

Following the sale, Kearon (pictured) retains 42% of the company’s voting shares and Unilever holds just under 37%.

Brian Tarran

Financials UK

@RESEARCH LIVE

0 Comments