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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
The Mission Marketing Group Plc | LSE:TMMG | London | Ordinary Share | GB00B11FD453 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 78.50 | 77.00 | 80.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTMMG
RNS Number : 2809M
The Mission Marketing Group PLC
27 July 2017
The Mission Marketing Group plc
LTIP options
The Mission Marketing Group plc ("the Company" or 'the mission(tm) ', AIM: TMMG), the marketing communications and advertising group, announces the following details of nil-cost options under the TMMG Long Term Incentive Plan (the "LTIP").
The Remuneration Committee of the TMMG Board ("RemCo") has today approved the grant of 635,000 new LTIP options to certain senior employees, representing 0.75% of the Company's current non-diluted issued share capital. The vesting of these LTIP options is dependent upon achieving levels of profit growth over the three year period of the options, with a sliding scale of vesting dependent upon the level of growth. Maximum vesting will be triggered by compound organic profit growth of 10% pa or more.
Separately, RemCo has today judged that the profit performance in relation to LTIP options granted in July 2014, which were dependent upon profits over the three year period ended on 31 December 2016, was insufficient for those awards to vest. As a consequence, all of the LTIP options granted in 2014 (being 795,000 in aggregate) have lapsed.
Following the introduction of a new Growth Share Scheme earlier this year, none of the Directors is eligible to participate in the Company's LTIP scheme (and hence the number of LTIPs awarded today has been reduced proportionately). As a result of the lapsing of 2014 LTIP options, the table below sets out the Directors' resultant holdings:
Directo Existing Lapsed Total LTIP options LTIP options options Dylan Bogg 104,500 (17,500) 87,000 James Clifton 118,215 (31,215) 87,000 Robert Day 156,667 (60,000) 96,667 Peter Fitzwilliam 75,000 (25,000) 50,000 Giles Lee 202,000 (80,000) 122,000 David Morgan 70,000 (25,000) 45,000 Chris Morris 70,000 (25,000) 45,000 Sue Mullen 40,000 (10,000) 30,000 Fiona Shepherd 110,000 (20,000) 90,000
Following today's grants and lapsing of the 2014 LTIPs, the total number of Ordinary Shares under the LTIP and Growth Share Scheme is 8.28m, representing 9.8% of the issued Ordinary Share capital. The A Shares issued under the Growth Share Scheme are detailed in the announcement of 22 February 2017.
The vesting of LTIP options may be satisfied by ordinary shares held by the The Mission Marketing Group Employee Benefit Trust ("EBT") and/or through the issue of new shares. As previously notified, the Directors would prefer to satisfy LTIP commitments by transferring shares held by the EBT rather than diluting all shareholders through the issue of new ordinary shares. The Trustees of the EBT make periodic share purchases as they deem appropriate and, as at the current date, hold 1,452,367 ordinary shares, representing approximately 1.7% of the issued share capital of the Company.
Enquiries:
Peter Fitzwilliam, Finance Director The Mission Marketing Group plc 020 7462 1415 Geoff Nash/James Thompson (Corporate Finance) Stephen Norcross (Corporate Broking) finnCap Limited 020 7220 0500
the mission(tm) is a network of entrepreneurial marketing communications Agencies employing 1,000 people in the UK, Asia and US. The Group comprises three divisions: Integrated Generalists, Sector Specialists and Activity Specialists, which work together to provide Clients with the expertise and resource to make them more successful in today's challenging environment.
www.themission.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
July 27, 2017 05:11 ET (09:11 GMT)
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