StockMarketWire.com - 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.




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