REG - Accesso Technology - Correction to Annual Report

accesso TechnologyAnnouncement

07/05/2020 16:50

RNS Number : 3323M
  
Accesso Technology Group PLC
  
07 May 2020
  
 

accesso® Technology Group plc
 
("accesso" or the "Company")
 
Correction to Annual Report 
 
 
accesso Technology Group plc (AIM: ACSO) is correcting an error in the detail of the 2019 Long Term Incentive Plan given on page 33 of its 2019 Annual Report published on 24 April 2020.
 
The performance conditions in the Annual Report incorrectly stated that 50% of certain awards were subject to no conditions other than continuing employment. This was not the case, and we have set out the correct conditions below.
 
There is no impact on the Company's profit, balance sheet, earnings per share or other audited financial information in the 2019 Annual Report. The recipients of the awards in question are no longer with the Company and therefore the awards have lapsed in any event.  
 
 



Date of Award


Vesting Period (months)


Period stock to be held following exercise (months)


Performance Conditions




10 May 2019


36


6


50% of the performance condition for the 2019 Award is related to Total Shareholder Return (TSR) over the period from 10 May 2019 to 9 May 2022. If accesso's TSR is greater than the growth of the designated 'Peer Group' during the thirty days prior to 9 May 2022, 25% of the TSR element of the Award shall vest and be exercisable. If the accesso TSR is within the upper quartile of the 'Peer Group then 100% of the TSR element of the Award shall vest.
 
50% of the performance condition is related to adjusted Earnings Per Share (EPS). If the accesso adjusted EPS is greater than 59.3 cents for the year ending 31 December 2021, 15% of the shares pursuant to this element of the Award shall vest. 100% of the shares pursuant to element of the Award shall vest if the adjusted EPS is greater than 68.2 cents. If the adjusted EPS is between 59.3 cents and 68.2 cents then the shares pursuant to this element of the Award shall vest on a straight line basis between 15% and 100%.



 
 
For further information, please contact:
 



accesso Technology Group plc   


+44 (0)118 934 7400




Steve Brown, Chief Executive Officer


















Numis Securities Limited


+44 (0)20 7260 1000




Simon Willis, Mark Lander, Hugo Rubinstein


















FTI Consulting, LLP          


+44 (0)20 3727 1000




Matt Dixon, Adam Davidson, Chris Birt

















 


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