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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ten Entertainment Group Plc | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 411.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTEG
RNS Number : 0113H
Ten Entertainment Group PLC
01 December 2020
01 December 2020
Ten Entertainment Group plc
Performance Share Plan Awards
Ten Entertainment Group plc (the "Company") announces that on Tuesday 1 December 2020 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 were granted on 30 November 2020 (Date of Grant) in accordance with the remuneration policy approved by shareholders and set out in the Company's Annual Report which was published on 13 May 2020.
Director Position Number of Share Awards Granted Graham Blackwell Chief Executive Officer 233,083 Antony Smith Chief Financial Officer 195,489
These awards (the "PSP Awards") are subject to three performance conditions which will be measured on the Vesting Date which will be the third anniversary of the Date of Grant.
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 will be calculated in accordance with the following table:
Results for the year to 1 January Percentage of the total number 2023 ("FY2022") of Share Awards granted that will vest Less than 17.00 pence 0% ------------------------------- 17.00 pence 12.5% ------------------------------- Between 17.00 and 23.00 pence Pro-rata on straight-line basis between 12.5% and 50% ------------------------------- More than 23.00 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 and a comparator group of companies and will be calculated on the third anniversary of the Date of Grant and will apply to the remaining 50 per cent. of Share Awards granted. TSR will be calculated in accordance with the following table:
TSR performance against Comparator Percentage of Award that Group Companies vests Below Median 0% ------------------------- Median 12.5% ------------------------- Between Median and Median plus Between 12.5% and 50% on 10% p.a.* a straight line basis ------------------------- Median plus 10% p.a. and above* 50% -------------------------
The third performance condition will be based on a share price underpin whereby no Award or part of an Award may vest unless the average Share Price of the Company calculated over a three month period ending on the Vesting Date exceeds the Share price on the Date of Grant.
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
Graham Blackwell Chief Executive Officer Antony Smith Chief Financial Officer
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood
Jack Devoy
1 - Details of the person discharging managerial responsibilities / person closely associated Name Graham Blackwell ------------------------------------------------------------ 2 - Reason for the notification Position Chief Executive 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 233,083 ------------------------------------------------------------ Aggregated information and volume price Total volume of shares: 233,083 Total price GBP GBPnil ------------------------------------------------------------ Date of transaction 01 December 2020 UK BST ------------------------------------------------------------ Place of transaction Outside a trading venue ------------------------------------------------------------ 1 - Details of the person discharging managerial responsibilities / person closely associated Name Antony Smith ------------------------------------------------------------ 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 195,489 ------------------------------------------------------------ Aggregated information and volume price Total volume of shares: 195,489 Total price GBP GBPnil ------------------------------------------------------------ Date of transaction 01 December 2020 UK BST ------------------------------------------------------------ Place of transaction Outside a trading venue ------------------------------------------------------------
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December 01, 2020 05:00 ET (10:00 GMT)
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