Share Name Share Symbol Market Type Share ISIN Share Description
Ten Ent Grp LSE:TEG London Ordinary Share GB00BF020D33 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -7.00p -2.57% 265.00p 260.00p 270.00p 270.00p 268.00p 268.00p 89,005 16:35:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 71.0 7.3 8.0 33.2 172.25

Ten Entertainment Group PLC Performance Share Plan Awards

14/06/2018 3:12pm

UK Regulatory (RNS & others)


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RNS Number : 4586R

Ten Entertainment Group PLC

14 June 2018

14 June 2018

Ten Entertainment Group plc

Performance Share Plan Awards

Ten Entertainment Group plc (the "Company") announces that on Monday 11 June 2018 its Executive Directors were granted the following share awards as nominal-cost options over ordinary shares of GBP0.01 each in the Company ("Shares") under the Company's Performance Share Plan ("PSP"). The awards have been granted in accordance with the remuneration policy approved by shareholders and set out in the Company's Annual Report which was published on 4 April 2018.

 
 Director            Position                    Number of Share 
                                                  Awards Granted 
 Mark Willis         Chief Financial Officer             111,940 
 Graham Blackwell    Chief Commercial Officer             95,149 
 

These awards (the "PSP Awards") are subject to two performance conditions which will be measured following the announcement of results for the year to 27 December 2020 ("FY2020").

The first performance condition applying to the PSP Awards will be based on Earnings per Share of the Company ("EPS") and will apply to 50 per cent. of the total number of Share Awards granted.

 
 EPS - Financial Year 2020        Percentage of the total number 
                                   of Share Awards granted that 
                                   will vest 
 Less than 24.50 pence            0% 
                                 ------------------------------- 
 24.50 pence                      12.5% 
                                 ------------------------------- 
 Between 24.50 and 26.69 pence    Pro-rata on straight-line 
                                   basis between 12.5% and 50% 
                                 ------------------------------- 
 More than 26.69 pence            50% 
                                 ------------------------------- 
 

The EPS measure is based on adjusted fully diluted EPS as stated in the Company's accounts and is subject to such adjustments as the Remuneration Committee in its discretion determines are fair and reasonable.

The second performance condition will be based on Total Shareholder Return ("TSR") of the Company over the period from the date of grant to the announcement of results for FY2020 relative to a comparator group of companies and will apply to the remaining 50 per cent. of Share Awards granted.

It is intended that 12.5 per cent. of the total number of Share Awards will vest on achievement of median TSR performance and that 50 per cent. of such will vest on achievement of upper quartile performance. There will be straight line vesting between these points.

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the PSP

Enquiries:

Ten Entertainment Group plc via Instinctif partners

   Alan Hand         Chief Executive Officer 
   Mark Willis        Chief Financial Officer 

Instinctif Partners Tel: 020 7457 2020

Matthew Smallwood

Tom Berger

 
 1 - Details of the person discharging managerial responsibilities / person closely associated 
 Name                                                      Mark Willis 
                                                          ------------------------------------------------------------ 
 2 - Reason for the notification 
 Position                                                  Chief Financial Officer 
                                                          ------------------------------------------------------------ 
 Reason for the notification                               Initial Notification 
                                                          ------------------------------------------------------------ 
 3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer 
  or auction monitor 
 Full name of the entity                                   Ten Entertainment Group PLC 
                                                          ------------------------------------------------------------ 
 Legal Entity Identifier code                              213800SL9HJUQ5BGPX17 
                                                          ------------------------------------------------------------ 
 4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; 
  (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been 
  conducted 
 Description of financial instrument, type of instrument   Ordinary Shares of 1p each 
                                                          ------------------------------------------------------------ 
 Identification code                                       ISIN: GB00BF020D33 
                                                          ------------------------------------------------------------ 
 Nature of the transaction                                 Grant of PSP Performance Share Award. The Award is 
                                                           structured as a nominal cost option which 
                                                           shall ordinarily vest and become exercisable from the third 
                                                           anniversary of its grant date 
                                                           subject to continued service and to the extent to which the 
                                                           performance conditions set for 
                                                           the Award are satisfied. 
                                                          ------------------------------------------------------------ 
 Price(s) and volume(s)                                     Price(s)    Volume(s) 
                                                             nil         111,940 
                                                          ------------------------------------------------------------ 
 Aggregated information and volume price                   Total volume of shares: 111,940 
                                                            Total price GBP GBPnil 
                                                          ------------------------------------------------------------ 
 Date of transaction                                       11 June 2018 UK BST 
                                                          ------------------------------------------------------------ 
 Place of transaction                                      Outside a trading venue 
                                                          ------------------------------------------------------------ 
 
 
 1 - Details of the person discharging managerial responsibilities / person closely associated 
 Name                                                      Graham Blackwell 
                                                          ------------------------------------------------------------ 
 2 - Reason for the notification 
 Position                                                  Chief Commercial Officer 
                                                          ------------------------------------------------------------ 
 Reason for the notification                               Initial Notification 
                                                          ------------------------------------------------------------ 
 3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer 
  or auction monitor 
 Full name of the entity                                   Ten Entertainment Group PLC 
                                                          ------------------------------------------------------------ 
 Legal Entity Identifier code                              213800SL9HJUQ5BGPX17 
                                                          ------------------------------------------------------------ 
 4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; 
  (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been 
  conducted 
 Description of financial instrument, type of instrument   Ordinary Shares of 1p each 
                                                          ------------------------------------------------------------ 
 Identification code                                       ISIN: GB00BF020D33 
                                                          ------------------------------------------------------------ 
 Nature of the transaction                                 Grant of PSP Performance Share Award. The Award is 
                                                           structured as a nominal cost option which 
                                                           shall ordinarily vest and become exercisable from the third 
                                                           anniversary of its grant date 
                                                           subject to continued service and to the extent to which the 
                                                           performance conditions set for 
                                                           the Award are satisfied. 
                                                          ------------------------------------------------------------ 
 Price(s) and volume(s)                                     Price(s)    Volume(s) 
                                                             nil         95,149 
                                                          ------------------------------------------------------------ 
 Aggregated information and volume price                   Total volume of shares: 95,149 
                                                            Total price GBP GBPnil 
                                                          ------------------------------------------------------------ 
 Date of transaction                                       11 June 2018 UK BST 
                                                          ------------------------------------------------------------ 
 Place of transaction                                      Outside a trading venue 
                                                          ------------------------------------------------------------ 
 

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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