Ten Entertainment - Performance Share Plan Awards
22/03/2023 17:35
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RNS Number : 9220T Ten Entertainment Group PLC 22 March 2023
22 March 2023
Ten Entertainment Group plc
Performance Share Plan Awards
Ten Entertainment Group plc (the "Company") announces that on Wednesday 22
March 2023 its Executive Directors were granted the following share awards as
nominal-cost options over ordinary shares of 1p each in the Company ("Shares")
under the Company's Performance Share Plan ("PSP").
The awards were granted on 22 March 2023 ("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 2022.
Director Position Number of Share
Awards Granted
Graham Blackwell Chief Executive Officer 164,368
Antony Smith Chief Financial Officer 138,053
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
Adjusted 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 2025 ("FY2025") Percentage of the total number of Share Awards granted that will vest
Less than 36.0 pence 0%
36.0 pence 12.5%
Between 36.0 and 42.0 pence Pro-rata on straight-line basis between 12.5% and 50%
More than 42.0 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 as set out in the
Annual Report on Remuneration, in the Company's Annual Report.
TSR 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
Olga Bate
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 164,368
Aggregated information and volume price Total volume of shares: 164,368
Total price GBP £nil
Date of transaction 22 March 2023 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 138,053
Aggregated information and volume price Total volume of shares: 138,053
Total price GBP £nil
Date of transaction 22 March 2023 UK BST
Place of transaction Outside a trading venue
Aggregated information and volume price
Total volume of shares: 164,368
Total price GBP £nil
Date of transaction
22 March 2023 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 138,053
Aggregated information and volume price
Total volume of shares: 138,053
Total price GBP £nil
Date of transaction
22 March 2023 UK BST
Place of transaction
Outside a trading venue
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