Source - LSE Regulatory
RNS Number : 6536G
Ten Entertainment Group PLC
30 March 2022
 

30 March 2022

 

Ten Entertainment Group plc

 

Performance Share Plan Awards

 

Ten Entertainment Group plc (the "Company") announces that on Wednesday 30 March 2022 its Executive Directors were granted the following share awards as nominal-cost options over ordinary shares of 1p each in the Company ("Shares") under the Company's Performance Share Plan ("PSP").

 

The awards were granted on 30 March 2022 ("Date of Grant") in accordance with the remuneration policy approved by shareholders and set out in the Company's Annual Report which was published on 29 March 2021.

 

Director

Position

Number of Share Awards Granted

Graham Blackwell

Chief Executive Officer

178,161

Antony Smith

Chief Financial Officer

149,425

 

These awards (the "PSP Awards") are subject to two performance conditions which will be measured on the vesting date which will be the third anniversary of the Date of Grant.

 

The first performance condition applying to the PSP Awards will be based on Earnings per Share of the Company ("EPS") and will apply to 50 per cent. of the total number of Share Awards granted. EPS will be calculated in accordance with the following table:

 

Results for the year to 29 December 2024 ("FY2024")

Percentage of the total number of Share Awards granted that will vest

Less than 20.50 pence

0%

20.50 pence

12.5%

Between 20.50 and 23.50 pence

Pro-rata on straight-line basis between 12.5% and 50%

More than 23.50 pence

50%

 

The EPS measure is based on adjusted fully diluted EPS as stated in the Company's accounts and is subject to such adjustments as the Remuneration Committee in its discretion determines are fair and reasonable.

 

The second performance condition will be based on Total Shareholder Return ("TSR") of the Company and a comparator group of companies as set out in the Annual Report on Remuneration, in the Company's Annual Report.

 

TSR will be calculated on the third anniversary of the Date of Grant and will apply to the remaining 50 per cent. of Share Awards granted. TSR will be calculated in accordance with the following table:

 

 

 

TSR performance against Comparator Group Companies

Percentage of Award that vests

Below Median

0%

Median

12.5%

Between Median and Median plus 10% p.a.

Between 12.5% and 50% on a straight line basis

Median plus 10% p.a. and above

50%

 

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the PSP

 

Enquiries:

Ten Entertainment Group plc                                                   via Instinctif Partners

Graham Blackwell

Chief Executive Officer

Antony Smith

Chief Financial Officer

 

Instinctif Partners                                                                     Tel: 020 7457 2020

 

Matthew Smallwood

Penny Bainbridge

 

 

 

1 - Details of the person discharging managerial responsibilities / person closely associated

Name

Graham Blackwell

2 - Reason for the notification

Position

Chief Executive Officer

Reason for the notification

Initial Notification

3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Full name of the entity

Ten Entertainment Group PLC

Legal Entity Identifier code

213800SL9HJUQ5BGPX17

4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

Description of financial instrument, type of instrument

Ordinary Shares of 1p each

Identification code

ISIN: GB00BF020D33

Nature of the transaction

Grant of PSP Performance Share Award

Price(s) and volume(s)

Price(s)

Volume(s)

nil

178,161

 

Aggregated information and volume price

Total volume of shares: 178,161

Total price GBP £nil

Date of transaction

30 March 2022   UK BST

Place of transaction

Outside a trading venue

 

1 - Details of the person discharging managerial responsibilities / person closely associated

Name

Antony Smith

2 - Reason for the notification

Position

Chief Financial Officer

Reason for the notification

Initial Notification

3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Full name of the entity

Ten Entertainment Group PLC

Legal Entity Identifier code

213800SL9HJUQ5BGPX17

4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted

Description of financial instrument, type of instrument

Ordinary Shares of 1p each

Identification code

ISIN: GB00BF020D33

Nature of the transaction

Grant of PSP Performance Share Award

Price(s) and volume(s)

Price(s)

Volume(s)

nil

149,425

 

Aggregated information and volume price

Total volume of shares: 149,425

Total price GBP £nil

Date of transaction

30 March 2022   UK BST

Place of transaction

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHBUGDXLXXDGDG
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Related Charts