10 August 2022
Ten Lifestyle Group plc
("Ten" or the "Company")
Grant of Options
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world's wealthy and mass affluent, announces that it has granted nil cost options to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") over Ordinary Shares, pursuant to the Ten Lifestyle Group Plc Management Incentive Plan dated 9 November 2017 (the "MIP Options").
| PDMR | Position | Number of new MIP Options granted | Resulting total options held over Ordinary Shares |
| Alex Cheatle | CEO | 200,000 | 1,381,874 |
| Andrew Long | Group COO and CEO (Asia) | 100,000 | 921,544 |
| Sarah Hornbuckle | Client Services Director | 40,000 | 317,735 |
| Alan Donald | CFO | 80,000 | 552,108 |
The nil cost MIP Options will vest subject to the performance conditions of the MIP Options based on total shareholder return ("TSR") over a three year period ending on the announcement of the Company's financial results for the year ending 31 August 2024.
For Alex Cheatle, Alan Donald and Sarah Hornbuckle, their performance condition is wholly linked to the compound annual growth rate of TSR. Andrew Long's performance conditions are linked to the compound annual growth rate of TSR as well as to Net Revenue growth in APAC and profit making in that region.
The Remuneration Committee believes the aforementioned performance metrics appropriately incentivise and are aligned with the Company's strategic goals and the long-term interests of shareholders.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these MIP Options.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||
| a. | Name | 1. Alex Cheatle 2. Andrew Long 3. Sarah Hornbuckle 4. Alan Donald | |||||||||||||||
| 2. | Reason for the notification | ||||||||||||||||
| a. | Position/status | 1. Chief Executive Officer 2. Group COO and CEO (Asia) 3. Client Services Director 4. CFO | |||||||||||||||
| b. | Initial notification /Amendment | Initial notification | |||||||||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||
| a. | Name | Ten Lifestyle Group plc | |||||||||||||||
| b. | LEI | 213800YK94ZUOJUMN686 | |||||||||||||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||||||||
| a. | Description of the Financial instrument, type of instrument Identification code | Options over Ordinary Shares of 0.1 pence
GB00BF188X60 | |||||||||||||||
| b. | Nature of the transaction | Grant of options under the Management Incentive Plan
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| c. | Price(s) and volume(s) |
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| d. | Aggregated information · Aggregated volume · Price
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| e. | Date of the transaction | 10 August 2022 | |||||||||||||||
| f. | Place of the transaction | Outside a trading venue | |||||||||||||||
- End -
For further information please visit www.tenlifestylegroup.com or call:
| Ten Lifestyle Group plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer
| +44 (0)20 7850 2796
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Peel Hunt LLP, Nominated Advisor and Broker Paul Gillam James Smith
|
+44 (0) 20 7418 8900 |
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading technology-enabled, global concierge platform, helping wealthy and mass affluent individuals and their families to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and more quickly than they could themselves.
Underpinned by industry-first technology, Ten provides its trusted concierge services to millions of members, in over 15 languages, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG).
The growth engine at the heart of Ten's business model is the driving force behind its progress towards its objective to become the most trusted service platform in the world.
For further information please go to: www.tenlifestylegroup.com.
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