Source - LSE Regulatory
RNS Number : 2051R
Cerillion PLC
19 September 2017
 

19 September 2017

AIM: CER

 

Cerillion plc

("Cerillion" or "the Company" or "the Group")

 

Implementation of Long Term Incentive Plan

 

Cerillion, the billing, charging and customer relationship management ("CRM") software solutions provider, is pleased to announce the establishment of a new Long-Term Incentive Plan ("LTIP") and the grant of options under the LTIP to six members of the Company's senior management team (together the "Senior Managers").

 

The LTIP has been established to further incentivise the Senior Managers, who currently have limited equity in the Group, in the creation of long-term value for shareholders.  The options are exercisable at the nominal value of the ordinary shares and have today been granted over an aggregate of 300,000 ordinary shares, representing approximately 1% of the current issued share capital of the Company.  The LTIP provides for these options to vest, in full, three years from the date of the grant, subject to the achievement of targets for compound annual growth in the share price of the Company over this vesting period.  The targets are as follows:

 

Below 8% compound annual growth:

nil vesting

8% compound annual growth:

25% vesting

15% compound annual growth:

100% vesting

Between 8% and 15% compound annual growth:

straight line vesting between 25% and 100%

 

The LTIP also contains standard provisions dealing with certain matters such as cessation of employment and change of control.  No Directors of the Company are participants in the LTIP.

 

For further information please contact:

 

Cerillion plc

Louis Hall, CEO

 

c/o KTZ Communications

T: 020 3178 6378

Oliver Gilchrist, CFO

 





Shore Capital (Nomad and Broker)

 

T: 020 7408 4090

Bidhi Bhoma

Toby Gibbs

 

 

 

 

 

KTZ Communications

 

T: 020 3178 6378

Katie Tzouliadis

Irene Bermont-Penn

Emma Pearson

 

 

 

 

 

About Cerillion

 

Cerillion is a leading provider of mission critical software for billing, charging and CRM, with a 17 year track record in providing comprehensive revenue and customer management solutions. The Company has approximately 80 customer installations across over 40 countries, principally serving the telecommunications market but also utilities and financial services.

 

Led by a highly experienced management team, the Company is headquartered in London, with operations in Pune, India where its Global Solutions Centre is located.


This information is provided by RNS
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