REG - Network Intnl Hldgs - Grant of share awards under LTIP
RNS Number : 6153ZNetwork International Holdings PLC21 May 2019GRANT OF SHARE AWARDS UNDER LONG TERM INCENTIVE PLAN
LONDON (UK), 21 May 2019 - Network International Holdings plc (LSE: NETW) (the Company) has granted conditional share awards (the Awards) under the Network International Holdings Long Term Incentive Plan (the LTIP) to the executive directors and senior managers listed in the table below (the Participants), over the number of ordinary shares in the Company (Shares) set out against each Participant's name.
Name
Number of Shares subject to Award
Simon Haslam
145,479
Rohit Malhotra
95,803
Samer Soliman
80,621
Andrew Key
74,586
The Awards vest, in accordance with the rules of the LTIP, subject to the achievement of financial performance targets over a three year performance period. The performance conditions measure the Company's EPS, TSR and Revenue. The performance conditions were chosen as key indicators of shareholder value, and calibrated to reward sustainable long term performance of the Company and value creation for shareholders.
A two year holding period applies to 100 per cent. of the vested Shares subject to the Awards granted to Simon Haslam and Rohit Malhotra. 40 per cent. of the vested Shares subject to the Awards granted to all other Participants is subject to a holding period, which will cease to apply after one year in respect of half of those Shares, and after two years in respect of the remaining half of those Shares. The vesting of the Awards is subject to malus provisions, and a two year post-vesting clawback period applies to all Awards.
A copy of the FCA notification form in respect of the grant of the Awards to each PDMR, as required under the EU Market Abuse Regulation and in the prescribed format, is set out below.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1.
Details of PDMR
a)
Name
Simon Haslam
2.
Reason for the notification
a)
Position / status
Chief Executive Officer
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer
a)
Name
Network International Holdings Plc
b)
Legal Entity Identifier
213800XVRNKWENNLKK60
4.
Details of the transaction(s)
a)
Description of the financial instrument
Shares
b)
Identification code
GB00BH3VJ782
c)
Nature of the transaction
Grant of Awards under the Network International Holdings Long Term Incentive Plan
d)
Price(s) and volume(s)
Price
Volume
£0.00
145,479 Ordinary Shares
e)
Aggregated information
- Aggregated volume
- Aggregated price
N/A - single transaction
f)
Date of the transaction
17 May 2019 (UK)
g)
Place of the transaction
London Stock Exchange, Main Market
1.
Details of PDMR
a)
Name
Rohit Malhotra
2.
Reason for the notification
a)
Position / status
Chief Financial Officer
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer
a)
Name
Network International Holdings Plc
b)
Legal Entity Identifier
213800VRNKWENNLKK60
4.
Details of the transaction(s)
a)
Description of the financial instrument
Shares
b)
Identification code
GB00BH3VJ782
c)
Nature of the transaction
Grant of Awards under the Network International Holdings Long Term Incentive Plan
d)
Price(s) and volume(s)
Price
Volume
£0.00
95,803 Ordinary Shares
e)
Aggregated information
- Aggregated volume
- Aggregated price
N/A - single transaction
f)
Date of the transaction
17 May 2019 (UK)
g)
Place of the transaction
London Stock Exchange, Main Market
1.
Details of PDMR
a)
Name
Samer Soliman
2.
Reason for the notification
a)
Position / status
Managing Director
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer
a)
Name
Network International Holdings Plc
b)
Legal Entity Identifier
213800VRNKWENNLKK60
4.
Details of the transaction(s)
a)
Description of the financial instrument
Shares
b)
Identification code
GB00BH3VJ782
c)
Nature of the transaction
Grant of Awards under the Network International Holdings Long Term Incentive Plan
d)
Price(s) and volume(s)
Price
Volume
£0.00
80,621 Ordinary Shares
e)
Aggregated information
- Aggregated volume
- Aggregated price
N/A - single transaction
f)
Date of the transaction
17 May 2019 (UK)
g)
Place of the transaction
London Stock Exchange, Main Market
1.
Details of PDMR
a)
Name
Andrew Key
2.
Reason for the notification
a)
Position / status
Managing Director
b)
Initial notification / amendment
Initial notification
3.
Details of the issuer
a)
Name
Network International Holdings Plc
b)
Legal Entity Identifier
213800VRNKWENNLKK60
4.
Details of the transaction(s)
a)
Description of the financial instrument
Shares
b)
Identification code
GB00BH3VJ782
c)
Nature of the transaction
Grant of Awards under the Network International Holdings Long Term Incentive Plan
d)
Price(s) and volume(s)
Price
Volume
£0.00
74,586 Ordinary Shares
e)
Aggregated information
- Aggregated volume
- Aggregated price
N/A - single transaction
f)
Date of the transaction
17 May 2019 (UK)
g)
Place of the transaction
London Stock Exchange, Main Market
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