Paypoint plc Paypoint Plc : Directorate Change

 
TIDMPAY 
 
 
   31 March 2017 
 
   PayPoint plc (the Company) 
 
   DIRECTORATE CHANGE 
 
   Following the announcement on 10 February 2017, George Earle has today 
stepped down as a director of PayPoint plc.  He will remain an employee 
for a number of months during 2017/18 to provide assistance with the 
completion of a number of outstanding projects, including the year-end 
reporting process. 
 
   No termination payments will be made. George will continue to receive 
fixed pay on a monthly basis during his limited period of employment 
although he will not be eligible for an annual bonus in respect of 
2017/18 or future LTIP awards. To the extent that performance targets 
are met, he will be eligible to receive his annual bonus for the year 
ending 31 March 2017, payable at the normal payment date in cash, 
although any amount that would have been deferred into shares will 
remain subject to clawback. 
 
   Unvested deferred annual bonus, DSB matching and LTIP awards will 
continue to vest at the normal vesting date subject to time pro-rating 
and, in respect of the DSB matching and LTIP awards, the extent to which 
the performance targets are met. The time pro-rating calculation will be 
based on the period of the respective vesting periods the individual has 
served as an Executive Director (i.e. until 31 March 2017, so no time 
pro-rating credit will be given for the subsequent employment period). 
 
   The relevant remuneration details relating to George Earle will be 
included in the Directors' Remuneration Report in the Annual Report and 
Accounts for the year ended 31 March 2017. 
 
   In accordance with section 430(2B) of the Companies Act 2006, the 
information contained in this document will be made available on the 
Company's website until the Company's next Directors' Remuneration 
Report is made available. 
 
   -Ends- 
 
   Enquiries: 
 
   RLM Finsbury: 
 
   020 7251 3801 
 
   Rollo Head 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: PayPoint plc via Globenewswire 
 
 
  http://www.paypoint.co.uk/default.htm 
 

(END) Dow Jones Newswires

March 31, 2017 04:00 ET (08:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.