Ten Entertainment Group PLC Director/PDMR Shareholding (0102M)
18 Mayo 2022 - 11:24AM
UK Regulatory
TIDMTEG
RNS Number : 0102M
Ten Entertainment Group PLC
18 May 2022
18 May 202 2
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 Percentage of Award that vests
Group Companies
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 Ordinary Shares of 1p each
instrument, type
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 6 1,667
----------
(2) 2 55.00
p 3 7,629
----------
------------------------------- --------------------------------------
d. Aggregated information N /A
* Aggregated volume Total volume of shares sold: 3 7,629
Total price: 9 5,953.95
* Price
------------------------------- --------------------------------------
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 Ordinary Shares of 1p each
instrument, type
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
Total price: 82,025.85
* Price
------------------------------- -------------------------------------
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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END
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