Macquarie receives ASIC exemption for Employee Share Plan

Company News

by Kathy Skantzos

Macquarie Group (ASX:MQG) has received an exemption from ASIC in connection to the company’s Employee Share Plan.

The exemption applies to the purchase of ordinary shares by a controlled entity in the five trading days following the offer close date on the financial market, for the purpose of transferring the Macquarie shares to participants in the Employee Share Plan.

The effect of the exemption permits a Macquarie controlled entity to buy and hold Macquarie shares for later allocation under the plan.

The exemption facilitates the purchase of shares on-market where Macquarie has determined to allocate purchased rather than newly issued shares under the plan.

Eligible employees are offered the opportunity to acquire Macquarie ordinary shares once a year up to the value of $1,000.

Shares in Macquarie Group (ASX:MQG) closed 0.17 per cent higher to $99.67.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.