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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
The Mission Group Plc | LSE:TMG | 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% | 22.50 | 22.00 | 23.00 | 22.50 | 22.50 | 22.50 | 66,464 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Advertising Agencies | 182.69M | 9k | 0.0001 | 2,250.00 | 20.48M |
TIDMTMMG
RNS Number : 5154Y
The Mission Marketing Group PLC
17 May 2016
The Mission Marketing Group plc
LTIP awards
The Mission Marketing Group plc ("the Company" or 'the mission(tm) ', AIM: TMMG), the marketing communications and advertising group, announces the following details of awards 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 1,040,000 new LTIP options to certain Directors and employees, representing 1.2% 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 profit growth of 10% pa or more.
Separately, RemCo has today judged that the profit performance in relation to LTIP options granted in 2013, which were dependent upon profits over the three year period ended on 31 December 2015, was insufficient for those awards to vest when they reach maturity in July 2016. As a consequence, all of the LTIP options granted in 2013 have lapsed.
The following table sets out a summary of the LTIPs awarded to Directors and their resultant holdings:
Existing New LTIP Lapsed Total LTIP LTIP options options options options Dylan Bogg 99,500 35,000 (30,000) 104,500 James Clifton 139,215 35,000 (56,000) 118,215 Robert Day 216,667 50,000 (110,000) 156,667 Peter Fitzwilliam 100,000 25,000 (50,000) 75,000 Chris Goodwin 72,500 25,000 (35,000) 62,500 Giles Lee 222,000 50,000 (70,000) 202,000 David Morgan 100,000 20,000 (50,000) 70,000 Chris Morris 100,000 20,000 (50,000) 70,000 Sue Mullen 42,500 20,000 (22,500) 40,000 Fiona Shepherd 110,000 50,000 (50,000) 110,000
The resulting total number of LTIP options in issue following today's grants and lapsing of the 2013 LTIPs is 2,770,000, representing 3.3% of the Company's issued share capital.
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 1,418,206 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 over 950 people in the UK, Asia and San Francisco. The Group comprises a complementary mix of integrated generalists, specialists in specific marketing/communications activities and specialists in particular market sectors, all providing award-winning solutions to national and international Clients.
www.themission.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHGGUWAAUPQGCM
(END) Dow Jones Newswires
May 17, 2016 10:56 ET (14:56 GMT)
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