Energy services firm Earnz has launched a sharesave scheme for all eligible UK-based employees.
The 2025 sharesave scheme allows eligible employees to commit to making a deduction from their salaries each month over the course of three years. They will be granted a corresponding number of options over Earnz’s ordinary shares of £0.04, subject to customary conditions being satisfied.
Eligible employees can choose to withdraw from the scheme and recover their paid-in funds at any point. At the end of the three=year period, those who have made 36 monthly payments may also opt to exercise their options at the exercise price of 4.2p, or withdraw their savings in full.
Earnz determined the exercise price by applying a 15% discount to the average closing price of its ordinary shares over the previous three days, which was 4.93p.
In addition, the firm has granted nil cost options for its long-term incentive plan (L-tip) 2024 to some of its executive members of staff. The awards will become exercisable on the third anniversary of the grant date, subject to the achievement of specified share price performance hurdles.
Changes have been made by the remuneration committee to simplify awarding of share incentives. All other conditions attaching to the L-tip options remain unchanged.
Earnz was contacted for comment prior to publication.
