EXPLOSIVE detector maker QRSciences has announced plans to establish employee share plans to help keep key staff and attract new staff to the company.
QRSciences CEO Kevin Russeth said fund managers had been asking what the company’s plans were to keep key employees.
"We have previously foreshadowed our intention to implement employee share plans and are confident the proposed plans will adequately address this issue which is becoming increasingly important as we expand our presence in the highly competitive US market," he said.
Both QRSciences Holdings Limited and QRSciences Limited will seek shareholder approval to implement separate share plans to the two companies employees and the issue of shares to key employees.
"In broad terms, both plans will give each company the ability to issue shares to staff with a restriction on their ability to sell those shares over a specified period of time, thereby aligning their long-term interests with those of the company," Mr Russeth said.
