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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
M&c Saatchi Plc | LSE:SAA | London | Ordinary Share | GB00B01F7T14 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.50 | -1.87% | 183.50 | 183.50 | 186.50 | 183.50 | 183.50 | 183.50 | 5,815 | 11:21:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Advertising Agencies | 462.53M | 90k | 0.0007 | 2,671.43 | 228.62M |
TIDMSAA
RNS Number : 6139E
M&C Saatchi PLC
19 July 2016
19 July 2016
M&C Saatchi PLC ("M&C Saatchi" or "the Company")
New issue under Long-Term Incentive Plan
In addition to the awards issued 1 June 2016, the Board of M&C Saatchi PLC announces that it approved the issue to Finance Director Jamie Hewitt (the "Participant") the following award.
The key points of the LTIP are summarised below:
-- The LTIP operates through shares in the Company's subsidiary, M&C Saatchi Worldwide.
-- The Participant will pay (by way of a combination of subscription price and deferred payment) GBP51,266.75 for the award. This amount is not refundable and will be paid in full if the vesting conditions are not met. Vesting of the awards is subject to:
-- the achievement of certain earnings and total shareholder return ("TSR") targets (the "Performance Conditions") measured over the period from 1 January 2015 to 31 December 2018 (the "Performance Period"); and
-- the Company's share price being above GBP5.00 per share during the period between 1 January 2019 and 31 December 2022 (the Share Price Target").
-- 20% of the award will be earned if average EPS growth over the Performance Period is above 10%. This 20% level will increase to 100% of the award on a straight line basis if EPS growth over the Performance Period is between 10% and 20% (with 100% of the award being earned if EPS growth of 20% or more is achieved). Below 10% EPS growth, no award will be earned. Earned awards will be adjusted by the TSR condition. If TSR over the Performance Period is above 50% an earned award will be increased by a half; if TSR over the Performance Period is between 0% and 50% no adjustment will be made to an earned award; if TSR over the Performance Period is below 0% then earned awards will be reduced by 25%.
-- Subject to the Share Price Target being achieved, an earned award, representing shares in M&C Saatchi Worldwide, may be exchanged for M&C Saatchi shares. The maximum number of M&C Saatchi shares that may be required to be issued under this issue of LTIP arrangements is 307,601. The maximum number of M&C Saatchi shares that may be required to be issued under LTIP arrangements (including awards issued on 1 June 2016), is 3,383,605.
M&C Saatchi's non-executive directors consider the terms of the transaction to be fair and reasonable insofar as the shareholders of the Company are concerned.
END
For further information, please contact:
M&C Saatchi +44 (0) 207 544 3693 ------------------------------------ --------------------- Andy Blackstone, Company Secretary ------------------------------------ --------------------- Numis Securities +44 (0) 207 260 1000 ------------------------------------ --------------------- Nick Westlake, NOMAD ------------------------------------ --------------------- Charles Farquhar, Corporate Broking ------------------------------------ --------------------- Tulchan Communications +44 (0) 207 353 4200 ------------------------------------ --------------------- Tom Murray ------------------------------------ ---------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHUKVARNUABAAR
(END) Dow Jones Newswires
July 19, 2016 07:53 ET (11:53 GMT)
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