REG - dotDigital Group plc - Interim Results <Origin Href="QuoteRef">DOTD.L</Origin> - Part 3

dotDigitalAnnouncement

24/02/2015 07:00

- Part 3: For the preceding part double click  ID:nRSX6483Fb 

                                                                                                                                                                                                                                                                                                                                          
 Sale of services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
 Entities controlled by non - executive director of the Group:                                                                                                                                                                                                                                                                                                                                                                                                                                 
 Cadence Performance Ltd - Email marketing services                                                                                                                                                                                                                                                                                                                                                                    2                         1                        2                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          2                    1                   2                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 Purchase of services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 Entities controlled by non-executive directors of the Group                                                                                                                                                                                                                                                                                                                                                                                                                                   
 Barretts of Old Limited                                                                                                                                                                                                                                                                                                                                                                                                                         3                        16                   41                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          3                    16                  41                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 At the 16 December 2014, it was approved that the company setup a Long Term Incentive program for Simone Barratt based on performance conditions of the group for the next three years. The performance conditions and targets for the share award are below:                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                       FY 14/15  FY15/16         FY16/17                                                                
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 Revenue                                                                                                                                                                                                                                                                                                                                                                                                                               21.4      27.8            *                                                                      
 EBITDA                                                                                                                                                                                                                                                                                                                                                                                                                                6.3       9.8             *                                                                      
 Share Price                                                                                                                                                                                                                                                                                                                                                                                                           35p             42p       *                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 * Year 3 numbers to be ratified in March 2015 once year 3 plans and guidance have been approved by the board and communicated.                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 Each Performance element will be awarded a 1/3 weighting of the overall annual value of £330k (Hitting 100% of target) worth of shares based on the average mid-market price measured over 5 days starting 30 working days after the results announcement.                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 At the end of each financial year the remuneration committee will assess the actual performance against the criteria.                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                       
 For each criteria the value of shares that is awarded will be assessed against the performance percentage based  in the below table for all 3 years:                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 Of performance target                                                                                                                                                                                                                                                                                                                                                                                                 Revenue         EBITDA    Share price     TOTAL                                                                
 90%                                                                                                                                                                                                                                                                                                                                                                                                                                   90,000    90,000          90,000   270,000                                                       
 100%