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Safestyle UK issues cash, shares to co-founder Mitu Misra
StockMarketWire.com
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Replacement door and window supplier Safestyle UK said it had made a payment in cash and shares to former employee and co-founder Mitu Misra in line with a previous agreement signed between the two parties.
Misra was entitled to receive 4 million Safestyle shares and up to £2 million in the fourth quarter of 2020, subject to the satisfaction of certain performance conditions.
Safestyle on Friday said it had issued the 4 million shares to Misra plus £1 million in cash.
'Following the admission and payment, the group has now satisfied the terms of the agreement and no further consideration will be paid to Mr Misra,' Safestyle said.
Story provided by StockMarketWire.com
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