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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Lighthouse Group Plc | LSE:LGT | London | Ordinary Share | GB0009779116 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 33.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLGT
RNS Number : 9230G
Lighthouse Group PLC
02 June 2017
Press Release 2 June 2017
Lighthouse Group plc
("Lighthouse" or "the Group")
LTIP Awards
Lighthouse Group plc (AIM: LGT), the national financial advisory group and preferred financial adviser to 19 affinity partners with a combined membership of more than 6 million individuals, announces further awards of new share options under the Group's Long Term Incentive Plan ("LTIP"),as follows:
The new awards (the "Awards") total 5,163,972 new share options. 3,500,778 new share options were granted to the three Executive Directors of Lighthouse and 1,663,194 new share options to other senior executives of the Group. The allocation to the Executive Directors was as follows:
Director Position Number of new share options awarded Malcolm Streatfield Chief Executive Officer 1,761,869 Peter Smith Group Finance Director 1,364,872 Group Compliance and Kenneth Paterson Risk Director 374,037
These Awards will vest after three years subject to continued employment and the meeting of objective performance conditions, outlined below. The Awards are exercisable at a price of 1 pence per new Ordinary Share.
Half of the Awards are subject to an earnings per share ("EPS") performance condition. The threshold vesting (20% of this part of the Award) will be at 1.5p EPS in the year to 31 December 2019 and full vesting will take place at 2.2p EPS for that year with straight-line vesting in between these points. The EPS figure used at both the start and end of the performance measurement period will be an adjusted EPS figure, calculated after a normalised tax charge.
The remaining half of the Awards are subject to a total shareholder return (share price performance plus dividends added back) performance condition. Threshold vesting (again for 20% of this Award) will be at 23p for the measurement period ending three years after the date of grant of the options, with full vesting at 31p and straight-line vesting in between these points.
The existing LTIP awards, being 3,250,000, 2,550,000 and 600,000 respectively for Messrs. Streatfield, Smith and Paterson, remain in place as do all other extant awards granted under the approved and unapproved share options schemes.
The maximum number of new ordinary shares that can be issued under the LTIP and the Company's other employee share plans is capped at 15% of the Company's issued share capital within a 10 year period.
The LTIP contains provisions in respect of vesting and exercise of options for variations in the share capital of the Company and for a change in control.
- Ends -
For further information, please contact:
Lighthouse Group plc Richard Last - Chairman Tel: +44 (0) 20 7065 5640 www.lighthousegroup.plc.uk finnCap Limited Nominated Adviser and Broker Tel: + 44 (0) to the Company) 20 7220 0500 Adrian Hargrave/ Emily Watts
Media enquiries:
IFC Advisory Limited Heather Armstrong/Tim Metcalfe/ Graham Tel: +44 (0) 20 3053 Herring 8671 heather.armstrong@investor-focus.co.uk www.investor-focus.co.uk
About Lighthouse Group plc
Lighthouse has been listed on AIM since 2000 as an integrated financial services company for investors, coupled with significant scale in terms of distribution through financial advisers and wealth managers and its fully diversified business model.
As one of the UK's largest autonomous financial advice and wealth management groups, Lighthouse provides a comprehensive range of services to businesses and individuals and is retained by most of the major trades unions and other affinity groups to advise their combined memberships of over 6 million members.
The Group aims to increase its relationships with, and the benefits it derives from, its relationships with affinity groups and professional partners.
In addition to a wide range of financial advice, the Group has developed innovative products to meet the specific needs of its retail and corporate customers. These comprise:
-- Luceo Asset Management, launched in September 2016 to provide a range of investment solutions to retail investors. The initial solution comprise five multi-manager, fund of fund, investment portfolios matching to customers' agreed risk profiles, with Octopus Investments Limited as the initial Investment Adviser. These are available across a number of platforms, including the Lighthouse Zurich Platform, in partnership with Zurich and;
-- The Lighthouse Pensions and Life Trusts, unbundled multi-employer Master Trust products that provide cost-effective and one-stop shop solutions for small- and medium- sized enterprises ("SMEs"), to meet their obligations to establish auto-enrolment compliant pension schemes for their employees by 31 March 2018. (up to 1 million SMEs have to do so) and provide death-in-service life assurance cover for all of their employees aged between 16 and 65, for the same cost per benefit, at very competitive rates, regardless of age, gender, location or pre-existing medical conditions. The Lighthouse Pensions Trust is listed on the Pension Regulator's website as an approved Master Trust for the provision of auto-enrolment pension scheme services.
Lighthouse operates from its headquarters in London as well as having principal operating offices in Stockport and Woodingdean, near Brighton.
For more information please visit: http://www.lighthousegroup.plc.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
June 02, 2017 02:00 ET (06:00 GMT)
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