Ten Entertainment - Director/PDMR Shareholding
18/05/2022 17:24
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RNS Number : 0102M Ten Entertainment Group PLC 18 May 2022
18 May 2022
Ten Entertainment Group plc
Notification of Transactions by Persons Discharging Managerial
Responsibilities ("PDMRs")
Ten Entertainment Group plc (the "Company") announces that on 18 May 2022,
the Performance Share Plan awards granted in the 2019 scheme on 17 May 2019
have vested. The awards were granted to the three Executive Directors at the
time, of which Graham Blackwell and Antony Smith are still with the Company.
Continuous employment over the term of the scheme is a condition and thus only
Graham Blackwell and Antony Smith can exercise their options. The total
award to Graham Blackwell was 123,333 options and Antony Smith, 133,333
options.
The Remuneration Committee reviewed the performance conditions of the scheme
with 50% applying to Earnings per Share (EPS) and 50% to Total Shareholder
Return (TSR). The EPS performance did not trigger a vesting and these awards
lapsed.
The TSR performance condition was met and the extent to which the award should
vest is calculated in accordance with the Company's Remuneration policy and
the specific scheme details of the 2019 Performance Share Plan as set out in
the table below:
TSR performance against Comparator Group Companies Percentage of Award that vests
Below Median 0%
Median 12.5%
Between Median and Upper Quartile Between 12.5% and 50% on a straight line basis
Upper Quartile and above 50%
The Company's performance was in the Upper Quartile. As a result, the
percentage of awards vesting was 50%. The Remuneration Committee have approved
the vesting of 128,334 ordinary shares in the Company. The Company has elected
to settle the awards via the issuance of ordinary shares.
Following the vesting of shares in respect of the Company's awards under the
2019 Performance Share Plan, application was made to the UK Listing Authority
and the London Stock Exchange plc for 128,334 ordinary shares of 1p each in
the Company ("Shares") to be admitted to the Official List.
After the allotment of the shares to the Company's employee share account, the
following shares were disposed of:
· Graham Blackwell disposed of 29,754 shares to cover the tax
liability on exercising the options plus a further 7,875 shares all at an
aggregated price of 255.00 pence per Ordinary Share
· Antony Smith disposed of 32,167 shares to cover the tax liability
on exercising the options at an aggregated price of 255.00 pence per Ordinary
Share
The Shares will rank pari passu with the Company's existing ordinary shares.
Following admission of the Shares, the Company will have a total of 68,496,118
ordinary shares in issue. This figure may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interests in, the
Company under the FCA's Disclosure and Transparency Rules. The Company does
not hold any shares in treasury.
Further details regarding the share awards are set out within the Directors'
Remuneration Report within the Company's 2021 Annual Report. This announcement
is made in accordance with Article 19 of the EU Market Abuse Regulation
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Graham Blackwell
2. Reason for the notification
a. Position/status Chief Executive Officer
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Ten Entertainment Group PLC
b. LEI 213800SL9HJUQ5BGPX17
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the Financial instrument, type Ordinary Shares of 1p each
of instrument
Identification code
ISIN: GB00BF020D33
b. Nature of the transaction (1) Award of performance shares
(2) Sale of shares
c. Price(s) and volume(s)
Price(s) Volume(s)
(1) nil 61,667
(2) 255.00p 37,629
d. Aggregated information N/A
· Aggregated volume Total volume of shares sold: 37,629
· Price Total price: 95,953.95
e. Date of the transaction 18 May 2022
f. Place of the transaction London Stock Exchange, Main Market (XLON)
d.
Aggregated information
· Aggregated volume
· Price
N/A
Total volume of shares sold: 37,629
Total price: 95,953.95
e.
Date of the transaction
18 May 2022
f.
Place of the transaction
London Stock Exchange, Main Market (XLON)
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Antony Smith
2. Reason for the notification
a. Position/status Chief Financial Officer
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Ten Entertainment Group PLC
b. LEI 213800SL9HJUQ5BGPX17
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the Financial instrument, type Ordinary Shares of 1p each
of instrument
Identification code
ISIN: GB00BF020D33
b. Nature of the transaction (1) Award of performance shares
(2) Sale of shares
c. Price(s) and volume(s)
Price(s) Volume(s)
(1) nil 66,667
(2) 255.00p 32,167
d. Aggregated information N/A
· Aggregated volume Total volume of shares sold: 32,167
· Price Total price: 82,025.85
e. Date of the transaction 18 May 2022
f. Place of the transaction London Stock Exchange, Main Market (XLON)
d.
Aggregated information
· Aggregated volume
· Price
N/A
Total volume of shares sold: 32,167
Total price: 82,025.85
e.
Date of the transaction
18 May 2022
f.
Place of the transaction
London Stock Exchange, Main Market (XLON)
Enquiries:
Ten Entertainment Group plc via Instinctif Partners
Graham Blackwell, Chief Executive Officer
Antony Smith, Chief Financial Officer and Company Secretary
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood, Penny Bainbridge
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