Barita Investments Limited (“Barita” or the “Company”) has advised that the Board of Directors has approved a Stock Ownership Plan (the “Plan”) for Barita employees, as the Company seeks to attract and retain talent, facilitate economic empowerment of employees and their families, and strengthen alignment between employees’ business decisions with the objectives of shareholders. The shares acquired pursuant to the Plan will be held in an employee Share Trust (the “Trust”) which will be governed by a Trust Deed.
Under the terms of the Plan eligible employees will be given the opportunity to purchase Barita shares at a discount from time to time in accordance with the rules of the Plan (the “Plan Rules”) and the Trust Deed. Accordingly, pursuant to the resolution approving the Plan, commencing September 28, 2021, the Trust will be purchasing Barita shares to be held in the Trust in accordance with the Trust Deed and the Plan Rules.
The establishment of the Plan is consistent with the Company’s ultimate objective of creating inter-generational wealth for the average Jamaican which includes our very hard-working team members and their families.
