Source - LSE Regulatory
RNS Number : 9848M
Ten Lifestyle Group PLC
20 September 2023
 

20 September 2023

                                                                                                                                                                                                                              

Ten Lifestyle Group plc

("Ten" or the "Company")

 

Grant of Options

 

Ten Lifestyle Group plc (AIM: TENG), announces that it has granted options over Ordinary Shares to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs"), pursuant to the Ten Lifestyle Group Plc Management Incentive Plan dated 9 November 2017 ("MIP Options") and Company Share Option Plan dated 24 August 2017 ("CSOP Options").

 

PDMR

Position

Number of new MIP Options granted

Number of new CSOP Options granted

Resulting total options held over Ordinary Shares

Alex Cheatle

CEO

200,000

15,306

1,579,680

Andrew Long

Group COO

100,000

15,306

1,059,350

Alan Donald

CFO

80,000

15,306

649,914

Victoria Carvalho

Chief Proposition Officer

32,000

15,306

341,950

 

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 2025. The Remuneration Committee believes the performance metrics appropriately incentivise and are aligned with the Company's strategic goals and the long-term interests of shareholders.

 

The CSOP Options become exercisable after three years, subject to certain conditions, including appropriate bad leaver conditions. The Remuneration Committee believes that granting CSOP Options is aligned with the Company's strategic goals and the long-term interests of shareholders as any gain from the exercise of CSOP options is subject to the relative increase in the share price over the three-year period.

 

The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these options.

 

1.       

Details of the person discharging managerial responsibilities / person closely associated

a.            

Name

1.    Alex Cheatle

2.    Andrew Long

3.    Alan Donald

4.    Victoria Carvalho

2.        

Reason for the notification

a.        

Position/status

1.    CEO

2.    Group COO

3.    CFO

4.    Chief Proposition Officer

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 and Company Share Option Plan

 

 

c.        

Price(s) and volume(s)

 


Price(s)

 

Volume(s)

1.

n/a

200,000

1.

Exercise price of £0.98

15,306

2.

n/a

100,000

2.

Exercise price of £0.98

15,306

3.

n/a

80,000

3.

Exercise price of £0.98

15,306

4.

n/a

32,000

4.

Exercise price of £0.98

15,306

d.        

Aggregated information

·      Aggregated volume

·      Price

 

 


Price(s)

 

Volume(s)

1.

n/a

200,000

1.

Exercise price of £0.98

15,306

2.

n/a

100,000

2.

Exercise price of £0.98

15,306

3.

n/a

80,000

3.

Exercise price of £0.98

15,306

4.

n/a

32,000

4.

Exercise price of £0.98

15,306

e.        

Date of the transaction

 19 September 2023

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

 

 

 

 

Singer Capital Markets Advisory LLP, Nominated Advisor and Broker

Corporate Finance: James Moat / Oliver Platts

Corporate Broking: Tom Salvesen / Charles Leigh-Pemberton

 

+44 (0) 20 7496 3000

 

 

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc ('Ten') partners with global financial institutions and other premium brands to attract and retain wealthy and mass affluent customers.

Millions of members have access to Ten's services across lifestyle, travel, dining, entertainment and retail benefits on behalf of over fifty clients including HSBC, Coutts, Morgan Stanley and Royal Bank of Canada. Ten's partnerships are based on multi-year contracts generating revenue through platform-as-a-service and technology fees.

Ten's operations are underpinned by an increasingly sophisticated personalisation platform comprising industry-first, proprietary technology, thousands of supplier relationships and 25 years of proprietary expertise delivered from over 20 global offices.

Ten is on a mission to become the most trusted service platform in the world. 

For further information please go to: www.tenlifestylegroup.com.

.

 

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END
 
 
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