REG - Mission Marketing - Annual LTIP Awards and Vesting; EBT Share Dealings <Origin Href="QuoteRef">TMMG.L</Origin>

MissionAnnouncement

06/09/2014 18:46

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RNS Number : 0176N
The Mission Marketing Group PLC
22 July 2014 
 
The Mission Marketing Group plc 
 
Annual LTIP Awards and Vesting; EBT Share Dealings 
 
The Mission Marketing Group plc ("TMMG", "the Company" or "the missiontm"),
the national marketing communications and advertising group, announces the
following details of awards and vesting of nil-cost options under the TMMG
Long Term Incentive Plan (the "LTIP") and associated share dealings. 
 
The Remuneration Committee of the TMMG Board ("RemCo") has today approved the
grant of 795,000 new LTIP options, representing 1.0% of the Company's issued
share capital. LTIP option awards may be satisfied by shares held by The
Mission Marketing Group Employee Benefit Trust ("EBT") and/or through the
issue of new shares, as appropriate. 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 2011, which were dependent upon profits over the three
year period ended on 31 December 2013, was sufficient to permit 50% of those
awards to vest (today). As a consequence, 50% of LTIP options granted in 2011
have lapsed. 
 
A number of Directors have today exercised 2011 LTIP options and the following
table sets out the details of LTIP options granted, lapsed and exercised: 
 
 Directo            Existing LTIPoptions  New LTIPoptions  Lapsedoptions  Optionsexercised  Total LTIPoptions  
                                                                                                               
 Dylan Bogg         160,000               17,500           (30,000)       (30,000)          117,500            
 James Clifton      56,000                31,215           -              -                 87,215             
 Robert Day         363,667               60,000           (78,500)       (78,500)          266,667            
 Peter Fitzwilliam  140,000               25,000           (25,000)       (25,000)          115,000            
 Chris Goodwin      95,000                20,000           (10,000)       (10,000)          95,000             
 Giles Lee          270,000               80,000           (50,000)       (50,000)          250,000            
 David Morgan       140,000               25,000           (25,000)       (25,000)          115,000            
 Chris Morris       118,000               25,000           (14,000)       (14,000)          115,000            
 Sue Mullen         52,500                10,000           (5,000)        (5,000)           52,500             
 Fiona Shepherd     130,000               20,000           (20,000)       (20,000)          110,000            
 
 
The resulting total number of LTIP options in issue following today's grants,
lapsing and vesting is 3,401,800, representing 4.4% of the Company's issued
share capital. 
 
The exercise of LTIP options gives rise to PAYE and NI liabilities and certain
Directors and employees have sold shares in order to meet their tax
liabilities.  Shares sold by these individuals have today been bought by the
EBT at an average price of 52p. 
 
The following table sets out details of Directors share dealings and resulting
interests in the Company's issued share capital: 
 
 Directo            Existinginterest  LTIP optionsexercised  Shares soldfor tax  Resultinginterest  Resultinginterest (%)  
                                                                                                                           
 Dylan Bogg         1,439,323         30,000                 -                   1,469,323          1.91%                  
 Robert Day         6,086,955         78,500                 (36,895)            6,128,560          7.96%                  
 Peter Fitzwilliam  619,481           25,000                 -                   644,481            0.84%                  
 Chris Goodwin      373,047           10,000                 (4,200)             378,847            0.49%                  
 Giles Lee          701,158           50,000                 (23,500)            727,658            0.95%                  
 David Morgan       6,059,875         25,000                 -                   6,084,875          7.90%                  
 Chris Morris       1,001,009         14,000                 -                   1,015,009          1.32%                  
 Sue Mullen         1,078,254         5,000                  (2,100)             1,081,154          1.40%                  
 Fiona Shepherd     1,254,173         20,000                 (9,400)             1,264,773          1.64%                  
 
 
To facilitate the sale of shares referred to above, the EBT today purchased
196,125 of the Company's ordinary shares of 10 pence each at an average price
of 52.0p.  Following this transaction, the EBT's interest in the missiontm is
919,009 Ordinary Shares, representing approximately 1.2% of the issued share
capital of the Company. 
 
 Enquiries:                                                                                        
 The Mission Marketing Group plc                                                    020 3463 2099  
 Peter Fitzwilliam, Finance Director                                                               
                                                                                                   
 finnCap Limited                                                                    020 7220 0500  
 Geoff Nash / Henrik Persson (Corporate Finance)Victoria Bates (Corporate Broking)                 
 
 
the missiontmis a national marketing communications and advertising group with
17 offices across the UK and offices in San Francisco and Singapore. The Group
specialises in providing national and international clients with award winning
marketing, advertising and business communications. Group members include
Addiction, April-Six, Balloon Dog, Big Communications, Bray Leino, RLA, Robson
Brown, Solaris, Story, ThinkBDW and Yucca. the missiontm employs over 800
staff and is listed on AIM (TMMG). 
 
www.themission.co.uk 
 
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