Motorpoint Group plc, the UK's leading independent omnichannel vehicle retailer, has launched its 2024 Save As You Earn (SAYE) share scheme for all its permanent employees. The SAYE scheme is approved by HM Revenue and Customs. Eligible employees were invited to subscribe for options over the company's Ordinary Shares at an exercise price of 69.00 pence, representing a 10% discount to the average closing middle market price of the shares over a three-day period. The options have a contract start date of February 1, 2024, and are exercisable between February 1, 2027, and July 31, 2027.

A total of 275 employees, including two persons discharging managerial responsibility (PDMRs), elected to participate in the SAYE scheme. As a result, a total of 1,335,935 shares under option were granted, equating to 1.48% of the current issued share capital. Mark Carpenter, Chief Executive Officer, and Chris Morgan, Chief Financial Officer, both PDMRs, elected to participate in the scheme and each have 5,376 shares under option.

Motorpoint is the UK's leading independent e-commerce-led omnichannel vehicle retailer. Through its B2C platform Motorpoint.co.uk and network of 20 sales and collection branches, customers can browse, buy, or finance their next car and have it delivered directly to their homes. The company's online wholesale platform, Auction4Cars.com, sells vehicles into the wholesale B2B market. Motorpoint's business model is underpinned by its established brand, technology, and marketing infrastructure, delivering choice, value, service, and quality for customers. The company has been recognized as one of the Top 100 Best Companies to Work For for nine consecutive years.