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TEG Ten Entertainment Group Plc

411.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Ten Entertainment Group PLC Performance Share Plan Awards (0113H)

01/12/2020 10:00am

UK Regulatory


Ten Entertainment (LSE:TEG)
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From Mar 2019 to Mar 2024

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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 
                                                          ------------------------------------------------------------ 
 

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

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December 01, 2020 05:00 ET (10:00 GMT)

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