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KNOS Kainos Group Plc

969.50
-10.50 (-1.07%)
Last Updated: 16:23:05
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kainos Group Plc LSE:KNOS London Ordinary Share GB00BZ0D6727 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.50 -1.07% 969.50 969.00 970.50 983.50 967.00 979.00 432,532 16:23:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Prepackaged Software 374.81M 41.65M 0.3328 29.13 1.21B

Kainos Group plc 2016 LTIP Awards (8717C)

30/06/2016 4:25pm

UK Regulatory


Kainos (LSE:KNOS)
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TIDMKNOS

RNS Number : 8717C

Kainos Group plc

30 June 2016

30 June 2016

Kainos Group plc

("Kainos" or the "Company)

2016 LTIP Awards

The Company announces that on 23 June 2016 share awards (the "Awards") approved by the Board of Directors of the Company under the Kainos Group Performance Share Plan (the "PSP"), in the form of nominal value options over ordinary shares of 0.5 pence each in the Company ("Ordinary Shares") were awarded to Executive Directors and PDMRs of the Company.

Awards have been granted to the three Executive Directors and two PDMRs, over a total of 250,962 ordinary shares.

 
 Name              Title                    Number of Shares 
----------------  -----------------------  ----------------- 
 Brendan Mooney    CEO                      56,410 
----------------  -----------------------  ----------------- 
 Richard McCann    CFO/COO                  62,500 
----------------  -----------------------  ----------------- 
 Paul Gannon       Sales Director           50,000 
----------------  -----------------------  ----------------- 
                   Corporate Development 
 Brian Gannon       Director                32,052 
----------------  -----------------------  ----------------- 
 Grainne Burns     Company Secretary        50,000 
----------------  -----------------------  ----------------- 
 

Performance Conditions and Vesting of Awards

Awards will be subject to the rules of the PSP and the following conditions:

(i) Fifty per cent (50%) of the Award will be subject to earnings per share ("EPS") percentage growth target, over a three-year period up to the financial year ending 31 March 2019.

   EPS Growth                       % of Award vesting 
   <9%                                   Nil 
   9%                                     30% 

>9% but <16% calculated on a straight line basis from 30% exercise at 9% EPS growth to 100% exercise at 16% EPS growth

   >=16%                                  100% 

(ii) Fifty per cent (50%) of the Award will be subject to total shareholder return ("TSR") performance condition, over a three-year period from date of grant.

   TSR Growth                       % of Award vesting 
   <9%                                   Nil 
   9%                                     30% 

>9% but <16% calculated on a straight line basis from 30% exercise at 9% TSR growth to 100% exercise at 16% TSR growth

   >=16%                                  100% 

The number of shares subject to the Award was determined by using the average mid-market price for the 3 trading days before the date of the Award, this was 156.2p.

Timetable

Awards are expected to vest in June 2019, following the announcement of the Company's results for the year ended 31 March 2019 and completion of the TSR Growth measurement period.

Ends

For further information, please contact

 
 Kainos                                     via FTI Consulting LLP 
 Brendan Mooney, Chief Executive 
  Officer 
 Brian Gannon, SVP Corporate Development 
 
 Investec Bank plc                          +44 (0) 20 7597 5970 
 Dominic Emery / Sebastian Lawrence 
  Patrick Robb / Matt Lewis 
 
 FTI Consulting LLP                         +44 (0) 20 3727 1000 
 Matt Dixon / Chris Lane 
 

Notes to Editors

Kainos Group plc is a high-growth UK-based provider of IT services, consulting and software solutions, specialising across multiple sectors in the development of digital technology solutions. These include software design and agile software development, third-party software integration and implementation services, technology support services and related ancillary services such as project management.

Kainos operates through three divisions: Digital Services, which delivers full system developments of customised online digital solutions; Evolve, the UK market leader in the digitisation of patient notes in the Acute sector of the NHS; and Workday Implementation Services, the only boutique partner for Workday, Inc. headquartered in the UK, responsible for implementing Workday's innovative Software-as-a-Service platform for enterprise customers.

Headquartered in Belfast, Northern Ireland, Kainos employs approximately 750 staff across seven offices (Belfast, Derry, Dublin, London, Bristol, Gdansk and Boston). Kainos is listed on the Main Market of the London Stock Exchange (KNOS). For further information please visit the company website: https://www.kainos.com/

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCAKKDBPBKDQAN

(END) Dow Jones Newswires

June 30, 2016 11:25 ET (15:25 GMT)

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