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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Network International Holdings Plc | LSE:NETW | London | Ordinary Share | GB00BH3VJ782 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.20 | 0.05% | 393.60 | 393.40 | 393.60 | 394.00 | 393.00 | 393.00 | 328,149 | 16:35:03 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Business Services, Nec | 490.13M | 65.69M | 0.1233 | 31.91 | 2.1B |
From Apr 2021 to Apr 2024
TIDMNETW
RNS Number : 0511X
Network International Holdings PLC
29 April 2021
29 April 2021
Network International Holdings plc
("Network International" or the "Group")
Notification and public disclosure of LTIP Awards to Directors and Persons Discharging Managerial Responsibilities ("PDMR")
Network International Holdings plc (LSE: NETW) (the Company) has on 26 April 2021 (the Date of Grant), granted awards (the Awards) to acquire ordinary shares in the Company (the Shares), subject to and in accordance with the rules of the Network International Holdings Long-Term Incentive Plan (the Plan), to the Group CEO and Group CFO as listed in the table below (the Participants)
Hot Features
Premium
Name Number of Shares subject
to Award
Nandan Mer 278,120
-------------------------
Rohit Malhotra 154,215
-------------------------
The Awards vest, in accordance with the rules of the LTIP, subject to the achievement of financial performance targets over a three year performance period. The performance conditions for the LTIP measure the Company's EPS, TSR and Revenue. The LTIP will include an additional ROCE target which, if it is not achieved, could reduce the amount vesting by up to 10%. The performance conditions were chosen as key indicators of shareholder value, and calibrated to reward sustainable long term performance of the Company and value creation for shareholders.
Financial Adjusted EPS 50% Threshold Target Maximum
Adjusted EPS (cents) 22.6 24.4 27.0
---------- ------- --------
Payout 25% 50% 100%
---------- ------- --------
Straight line vesting between
points
------------------------- ------------------- ----------------------------------------------------------
Revenue 25% Threshold Target* Maximum
Revenue ($m) 467.9 505.8 531.1
---------- -------- --------
Payout 25% 50% 100%
---------- -------- --------
Straight line vesting between
points
------------------------- ------------------- ----------------------------------------------------------
Relative TSR vs FTSE 250 25% Threshold Maximum
Relative TSR positioning Median Upper quartile
---------- ---------------
Payout 25% 100%
---------- ---------------
Straight line vesting between
points
------------------------- ------------------- ----------------------------------------------------------
Underpin Return on Capital Underpin which 15% ROCE in 2023
Employed will reduce
levels of vesting
by up to 10%
if not met.
------------------------- ------------------- ----------------------------------------------------------
The Awards are granted as conditional Awards. Subject to the rules of the Plan, each of the Awards will normally vest on the third anniversary of the Date of Grant to the extent that the performance conditions applicable to the relevant part of the Award have been satisfied. The Awards are subject to malus, a two-year holding period, and a two-year clawback period from the vesting date.
The share price at which the Awards were granted was determined to be GBP4.30 i.e. the higher of the average share price calculated over a period of up to 30 trading days, or 5 trading days prior to the Date of Grant.
The Directors' Remuneration Policy and the Plan rules provide the Committee maximum flexibility in applying discretion to ensure that the final outturns under the Awards reflect all relevant factors, including overall corporate performance, shareholder experience and consideration of any windfall gains.
A copy of the FCA notification form in respect of the grant of the Awards to each PDMR, as required under the EU Market Abuse Regulation and in the prescribed format, is set out below.
Notification of a Transaction pursuant to Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Nandan Mer
--------------------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Group Chief Executive Officer
--------------------------------------------- -----------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Network International Holdings
plc
--------------------------------------------- -----------------------------------
b) LEI 213800XVRNKWENNLKK60
--------------------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------------
a) Description of the financial Shares
instrument, type of instrument
Identification code GB00BH3VJ782
--------------------------------------------- -----------------------------------
b) Nature of the transaction Grant of Awards under the Network
International Holdings Long Term
Incentive Plan
--------------------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP 4.30 278,120 ordinary
shares
--------------------------------------------- -----------------------------------
d) Aggregated information - Aggregated volume
- Price 278,120
GBP 1,195,916.00
--------------------------------------------- -----------------------------------
e) Date of the transaction 26 April 2021
--------------------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, Main Market
--------------------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Rohit Malhotra
--------------------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
a) Position/status Group Chief Financial Officer
--------------------------------------------- -----------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a) Name Network International Holdings
plc
--------------------------------------------- -----------------------------------
b) LEI 213800XVRNKWENNLKK60
--------------------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------------
a) Description of the financial Shares
instrument, type of instrument
Identification code GB00BH3VJ782
--------------------------------------------- -----------------------------------
b) Nature of the transaction Grant of Awards under the Network
International Holdings Long Term
Incentive Plan
--------------------------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP 4.30 154,215 ordinary
shares
--------------------------------------------- -----------------------------------
d) Aggregated information - Aggregated volume
- Price 154,215
GBP 663,124.50
--------------------------------------------- -----------------------------------
e) Date of the transaction 26 April 2021
--------------------------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange, Main Market
--------------------------------------------- -----------------------------------
Enquiries
Network International Jay Razzaq: Chief Risk Officer jay.razzaq@network.global & Group Company Secretary Amie Gramlick: Head of Investor InvestorRelations@Network.Global Relations Finsbury network-lon@finsbury.com James Leviton, Andy Parnis: Media Relations
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
DSHPPURPCUPGUMB
(END) Dow Jones Newswires
April 29, 2021 03:29 ET (07:29 GMT)
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