RNS Number : 0261R
3i Group PLC
01 July 2022
Statement under section 430(2B) Companies Act 2006 in relation
to Mrs Julia Wilson
Further to the announcement made on 11 November 2021, Julia
Wilson, retired as Group Finance Director and as an Executive
Director of 3i Group plc (the "Company") at the conclusion of the
Company's Annual General Meeting ("AGM") on 30 June 2022.
The following information is provided in accordance with section
430(2B) of the Companies Act 2006:
Mrs Wilson's remuneration terms will be in line with her
existing service agreement and the Company's Directors'
Remuneration Policy approved by shareholders at the AGM in 2020.
Details of these remuneration arrangements are set out in the 2022
Directors' Remuneration Report and further detail will be disclosed
in the 2023 Directors' Remuneration Report where required.
Mrs Wilson will remain employed by the Company until 30
September 2022. This is intended to ensure support and continuity
for the new Executive Directors and allow for an orderly
Mrs Wilson will not receive any payment for loss of office.
Salary, Pension and Benefits
Mrs Wilson will continue to receive her salary, pension
allowance and benefits in line with her service agreement up to and
including 30 September 2022 when her employment will cease. As set
out in the 2022 Directors' Remuneration Report, Mrs Wilson's salary
will be GBP504,176 p.a. for the period from 1 July 2022 until her
employment ends on 30 September 2022.
Mrs Wilson's benefits include a car allowance, provision of
health insurance and, the value of the matching share awards under
the 3i Group Share Incentive Plan in which Mrs Wilson participates.
Details of these benefits are summarised in the 2022 Directors'
Mrs Wilson will not be eligible to receive an annual bonus for
the financial year to 31 March 2023.
On leaving employment Mrs Wilson will be treated as a good
leaver for purposes of the Directors' Remuneration Policy.
3i Group Share Incentive Plan
Outstanding shares held under the 3i Group Share Incentive Plan
on leaving employment will be treated in accordance with the
applicable rules. Shares will be released to her subject to any
deductions required under PAYE.
Balance in the Share Incentive Plan on 30 June 2022.
Partnership Matching Shares Dividend Shares Total
5,432 10,864 5,695 21,991
---------------- ---------------- -------
Deferred Bonus Plan
Mrs Wilson's unreleased awards under the 3i Deferred Bonus Plan
and the 3i Group Deferred Bonus Plan 2020 over a total of 125,219
shares will be retained and will (subject to the rules of the
relevant Plan) be released on their original release dates. The
awards remain subject to malus and clawback provisions and Mrs
Wilson will continue to receive dividends on the shares comprised
in these awards pending their release.
Mrs Wilson is not be entitled to receive any further awards
under the 3i Group Deferred Bonus Plan.
Long-term incentive awards
Outstanding long-term incentive awards under the 3i Group
Discretionary Share Plan and the 3i Group Discretionary Share Plan
2020 will (subject where applicable to satisfaction of outstanding
performance conditions) be retained and will be released in line
with the original release dates.
Awards made in 2020 and 2021 will be pro-rated for the
proportion of the three year performance period for which Mrs
Wilson remains in employment.
As the awards made in 2018 and 2019 have already completed their
three-year performance periods and have vested (with performance
outcomes resulting in 70.63% performance vesting and 100%
performance vesting respectively), these vested awards (to the
extent they remain unreleased) will not be time pro-rated and will
continue to be released on their scheduled release dates, subject
to the rules of the relevant Plan.
The awards, totalling 224,970 shares, will remain subject to
malus and clawback provisions and will accumulate dividend
equivalents and interest until they are released.
Mrs Wilson will be expected to maintain a shareholding in the
Company for two years post cessation of employment at 200% of her
salary as at 30 September 2022.
In accordance with section 430 (2B) of the Companies Act 2006, a
copy of this statement is available on the Company's website at
For further information, contact:
Kathryn van der Kroft 020 7975 3021
Silvia Santoro 020 7975 3258
Investor Relations Director
Notes to Editors:
3i is a leading international investment manager focused on
mid-market Private Equity and Infrastructure. Our core investment
markets are northern Europe and North America. For further
information, please visit: www.3i.com .
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(END) Dow Jones Newswires
July 01, 2022 06:15 ET (10:15 GMT)
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