REG - National World PLC - VCP Update and Publication of Annual Report

National WorldAnnouncement

08/04/2025 07:00

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RNS Number : 0804E  National World PLC  08 April 2025

National World plc

 

("National World," or the "Company")

 

VCP Update and Publication of Annual Report

 

National World (LSE: NWOR) announces that the Value Creation Plan ("VCP")
award granted to Mr David Montgomery on 17 April 2019 is fully vested. The
Exercise Period stipulated by the VCP rules ends on the second anniversary of
the Testing Date. The Testing Date was 17th April 2023 (being the dealing day
after 14th April which was the 20th dealing day of the Testing Period).
Accordingly, absent an extension, Mr Montgomery would be required to exercise
his rights in respect of the award to acquire 4,432,177 shares under the VCP
by 17 April 2025.

 

The Remuneration Committee has discretionary power under the VCP rules to
extend the exercise period in certain circumstances. Given the delays to the
sanctioning of the scheme of arrangement and the announcement made by the
Company on 28 March 2025, the Remuneration Committee have exercised their
discretionary powers to grant a 90 day extension to the Exercise Period on the
grounds that it is fair and reasonable to do so.

 

Additionally National World announces that the Annual Report and Accounts for
the year ended 28 December 2024 is available on the Company's website:
https://corporate.nationalworld.com/investors/reports-presentations-and-publications/
(https://corporate.nationalworld.com/investors/reports-presentations-and-publications/)
, it has also been submitted to the National Storage Mechanism and will
shortly be available for inspection at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
(https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism)

 

 

- Ends -

 

Enquiries:

 

 National World plc

 Douglas Easton, Company Secretary

 c/o Montfort Communications

 Montfort Communications

 Neil Craven                         +44 (0)78 7647 5419

 Nick Miles                          +44 (0)77 3970 1634

 

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