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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Future Plc | LSE:FUTR | London | Ordinary Share | GB00BYZN9041 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-13.00 | -2.04% | 625.50 | 624.00 | 626.50 | 643.50 | 623.50 | 637.00 | 30,795 | 12:04:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Publishing | 788.9M | 113.4M | 0.9782 | 6.44 | 729.78M |
TIDMFUTR
RNS Number : 7248V
Future PLC
16 April 2021
Date: 16 April 2021
Future plc
(the "Company")
Director/PDMR holding
The Company announces that an award of units under the Value Creation Plan to employees across the Company, including the two Executive Directors, was made on 14 April 2021.
Units will vest based on value created in terms of GBP Total Shareholder Return (TSR), being the growth in Future's market capitalisation plus net equity cashflows to shareholders (i.e. dividends plus share buybacks, less share issues), over and above a hurdle rate of return of 10% per annum. Future's starting market capitalisation (GBP1,903m) is based on the spot closing price of a share on 30 September 2020 (GBP19.42). Value created at each measurement date will be calculated with reference to the average closing return index over the three months ending on that date. To the extent that performance exceeds the hurdle on a measurement date, participants will share 3.33% of the additional shareholder value created above the hurdle. Participants will be allocated an individual share of this amount, reflecting the number of units they hold. These amounts will be converted into a number of Future plc shares, based on the share price at the relevant vesting date. The aggregate additional shareholder value created and allocated to participants is capped at GBP95m per tranche. To the extent that performance does not exceed the hurdle on a measurement date, the relevant tranche will lapse in full, immediately. There will be no re-testing allowed. The awards are subject to malus and clawback provisions.
Additionally, for Executive Directors:
- Any shares awarded in respect of the first tranche (measurement date 30 September 2023) will be subject to a mandatory two-year holding period
- Any shares awarded in respect of the second tranche (measurement date 30 September 2024) will be subject to a mandatory one-year holding period
The ultimate release of any shares will be subject to the Committee satisfying itself that the recorded outcome is a fair reflection of the underlying business performance over the period.
Details of the awards to the Executive Directors are as follows:
Name Number of units Performance Vesting date awarded period Zillah Byng-Thorne 140,000 (first 1 October 2020 The first Dealing tranche) to: 30 September Day after the 2023 announcement of the FY23 results ---------------- ------------------ ------------------ Zillah Byng-Thorne 140,000 (second 1 October 2020 The first Dealing tranche) to 30 September Day after the 2024 announcement of the FY24 results ---------------- ------------------ ------------------ Zillah Byng-Thorne 140,000 (third 1 October 2020 The first Dealing tranche) to 30 September Day after the 2025 announcement of the FY25 results ---------------- ------------------ ------------------ Rachel Addison 63,000 (first 1 October 2020 The first Dealing tranche) to: 30 September Day after the 2023 announcement of the FY23 results ---------------- ------------------ ------------------ Rachel Addison 63,000 (second 1 October 2020 The first Dealing tranche) to 30 September Day after the 2024 announcement of the FY24 results ---------------- ------------------ ------------------ Rachel Addison 63,000 (third 1 October 2020 The first Dealing tranche) to 30 September Day after the 2025 announcement of the FY25 results ---------------- ------------------ ------------------
Enquiries:
Future plc Tel: +44 (0)1225 442244 Zillah Byng-Thorne, Chief Executive Officer Rachel Addison, Chief Financial Officer Marion Le Bot, Head of Investor Relations Headland Consultancy (Financial Tel: +44 (0)20 3805 4822 PR) +44 (0)7734 956 201 Stephen Malthouse +44 (0)77 9195 8922 Rob Walker Charlie Twigg future@headlandconsultancy.com -------------------------
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April 16, 2021 04:15 ET (08:15 GMT)
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