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PROG Pro Global Ins.

14.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pro Global Ins. LSE:PROG London Ordinary Share GB00B1Z5KB73 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 14.00 13.00 15.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Pro Global Insurance Solutions PLC Amendment to share award scheme (5564S)

22/12/2016 7:15am

UK Regulatory


Pro Global Ins. (LSE:PROG)
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From Mar 2019 to Mar 2024

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TIDMPROG

RNS Number : 5564S

Pro Global Insurance Solutions PLC

22 December 2016

Pro Global Insurance Solutions plc

Amendment to share award scheme

Pro Global Insurance Solutions plc (the "Company") announces that the independent board directors of the Company (the "Independent Directors") have approved certain amendments to the Pro Performance Share Plan 2007 following the announcement of the proposed sale of the shares in its outsourcing and consulting businesses (the "Sale").

The Independent Directors have approved the following amendments respect to the Pro Performance Share Plan 2007:

- The original performance conditions of the 2.5 million shares granted under this plan to Artur Niemczewski, CEO, has been supplemented by alternative performance conditions more reflective of the key success indicators of the Company for the current time. The alternative performance conditions relate to 1.5 million shares of the 2.5 million shares granted to Mr Niemczewski under this plan.

- A minimum of 41.67% of the shares granted to employees and directors will vest, whether or not performance conditions have been met, in the event of the completion of the Sale.

A total of three million shares are outstanding under the Pro Performance Share Plan 2007. The table below shows relevant PDMRs who these awards are allocated to.

 
 PDMR                 Total share   Total share awards, 
                           awards 
                                      % of total shares 
                                            outstanding 
-------------------  ------------  -------------------- 
 Artur Niemczewski      2,500,000                  2.2% 
-------------------  ------------  -------------------- 
 Richard Lawson           250,000                  0.2% 
-------------------  ------------  -------------------- 
 Mory Katz                250,000                  0.2% 
-------------------  ------------  -------------------- 
 

Enquires

 
 Pro Global 
  FWD PR - Matt Beasley                  020 7623 2368 
--------------------------------------  -------------- 
 Peel Hunt LLP (nominated adviser and 
  broker) 
  James Britton 
  Rishi Shah                             020 7418 8900 
--------------------------------------  -------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUUOARNRAUURA

(END) Dow Jones Newswires

December 22, 2016 02:15 ET (07:15 GMT)

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