RNS Number : 1620P
Ten Entertainment Group PLC
15 October 2021
15 October 2021
Ten Entertainment Group plc
Performance Share Plan Awards
Ten Entertainment Group plc (the "Company") announces that on 15 October 2021 its Executive Directors were granted the following share awards as nominal-cost options over ordinary shares of £0.01 each in the Company ("Shares") under the Company's Performance Share Plan ("PSP"). The awards were granted on 14 October 2021 (Date of Grant) in accordance with the remuneration policy approved by shareholders and set out in the Company's Annual Report which was published on 29 March 2021.
Director
Position
Number of Share Awards Granted
Graham Blackwell
Chief Executive Officer
172,862
Antony Smith
Chief Financial Officer
144,981
These awards (the "PSP Awards") are subject to two performance conditions which will be measured on the Vesting Date which will be the third anniversary of the Date of Grant.
The first performance condition applying to the PSP Awards will be based on Earnings per Share of the Company ("EPS") and will apply to 50 per cent. of the total number of Share Awards granted. EPS will be calculated in accordance with the following table:
Results for the year to 31 December 2023 ("FY2023")
Percentage of the total number of Share Awards granted that will vest
Less than 17.50 pence
0%
17.50 pence
12.5%
Between 17.50 and 20.50 pence
Pro-rata on straight-line basis between 12.5% and 50%
More than 20.50 pence
50%
The EPS measure is based on adjusted fully diluted EPS as stated in the Company's accounts and is subject to such adjustments as the Remuneration Committee in its discretion determines are fair and reasonable.
The second performance condition will be based on Total Shareholder Return ("TSR") of the Company and a comparator group of companies and will be calculated on the third anniversary of the Date of Grant and will apply to the remaining 50 per cent. of Share Awards granted. TSR will be calculated in accordance with the following table:
TSR performance against Comparator Group Companies
Percentage of Award that vests
Below Median
0%
Median
12.5%
Between Median and Median plus 10% p.a.*
Between 12.5% and 50% on a straight line basis
Median plus 10% p.a. and above*
50%
Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the PSP
Enquiries:
Ten Entertainment Group plc via Instinctif Partners
Graham Blackwell
Chief Executive Officer
Antony Smith
Chief Financial Officer
Instinctif Partners Tel: 020 7457 2020
Matthew Smallwood
Penny Bainbridge
1 - Details of the person discharging managerial responsibilities / person closely associated
Name
Graham Blackwell
2 - Reason for the notification
Position
Chief Executive Officer
Reason for the notification
Initial Notification
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity
Ten Entertainment Group PLC
Legal Entity Identifier code
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; (iv) each place where transactions have been conducted
Description of financial instrument, type of instrument
Ordinary Shares of 1p each
Identification code
ISIN: GB00BF020D33
Nature of the transaction
Grant of PSP Performance Share Award
Price(s) and volume(s)
Price(s)
Volume(s)
nil
172,862
Aggregated information and volume price
Total volume of shares: 172,862 Total price GBP £nil
Date of transaction
15 October 2021 UK BST
Place of transaction
Outside a trading venue
1 - Details of the person discharging managerial responsibilities / person closely associated
Name
Antony Smith
2 - Reason for the notification
Position
Chief Financial Officer
Reason for the notification
Initial Notification
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity
Ten Entertainment Group PLC
Legal Entity Identifier code
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; (iv) each place where transactions have been conducted
Description of financial instrument, type of instrument
Ordinary Shares of 1p each
Identification code
ISIN: GB00BF020D33
Nature of the transaction
Grant of PSP Performance Share Award
Price(s) and volume(s)
Price(s)
Volume(s)
nil
144,981
Aggregated information and volume price
Total volume of shares: 144,981 Total price GBP £nil
Date of transaction
15 October 2021 UK BST
Place of transaction
Outside a trading venue
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