TIDMTENG

RNS Number : 4747V

Ten Lifestyle Group PLC

10 August 2022

10 August 2022

Ten Lifestyle Group plc

("Ten" or the "Company")

Grant of Options

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world's wealthy and mass affluent, announces that it has granted nil cost options to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") over Ordinary Shares, pursuant to the Ten Lifestyle Group Plc Management Incentive Plan dated 9 November 2017 (the "MIP Options").

 
       PDMR                  Position            Number of new    Resulting total 
                                                  MIP Options     options held over 
                                                    granted        Ordinary Shares 
 Alex Cheatle                   CEO                 200,000           1,381,874 
                    --------------------------  --------------  ------------------- 
                         Group COO and CEO 
 Andrew Long                   (Asia)               100,000            921,544 
                    --------------------------  --------------  ------------------- 
 Sarah Hornbuckle    Client Services Director       40,000             317,735 
                    --------------------------  --------------  ------------------- 
 Alan Donald                    CFO                 80,000             552,108 
                    --------------------------  --------------  ------------------- 
 

The nil cost MIP Options will vest subject to the performance conditions of the MIP Options based on total shareholder return ("TSR") over a three year period ending on the announcement of the Company's financial results for the year ending 31 August 2024.

For Alex Cheatle, Alan Donald and Sarah Hornbuckle, their performance condition is wholly linked to the compound annual growth rate of TSR. Andrew Long's performance conditions are linked to the compound annual growth rate of TSR as well as to Net Revenue growth in APAC and profit making in that region.

The Remuneration Committee believes the aforementioned performance metrics appropriately incentivise and are aligned with the Company's strategic goals and the long-term interests of shareholders.

The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these MIP Options.

 
    1.      Details of the person discharging managerial responsibilities 
             / person closely associated 
       a.   Name                                  1. Alex Cheatle 
                                                   2. Andrew Long 
                                                   3. Sarah Hornbuckle 
                                                   4. Alan Donald 
           ------------------------------  ------------------------------------------------ 
    2.      Reason for the notification 
           -------------------------------------------------------------------------------- 
    a.      Position/status                      1. Chief Executive Officer 
                                                  2. Group COO and CEO (Asia) 
                                                  3. Client Services Director 
                                                  4. CFO 
           ------------------------------  ------------------------------------------------ 
    b.      Initial notification            Initial notification 
             /Amendment 
           ------------------------------  ------------------------------------------------ 
    3.      Details of the issuer, emission allowance market participant, 
             auction platform, auctioneer or auction monitor 
           -------------------------------------------------------------------------------- 
    a.      Name                            Ten Lifestyle Group plc 
           ------------------------------  ------------------------------------------------ 
    b.      LEI                             213800YK94ZUOJUMN686 
           ------------------------------  ------------------------------------------------ 
    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                  Options over Ordinary Shares of 0.1 pence 
             the 
             Financial instrument,           GB00BF188X60 
             type 
             of instrument 
             Identification 
             code 
           ------------------------------  ------------------------------------------------ 
    b.      Nature of the                   Grant of options under the Management Incentive 
             transaction                     Plan 
           ------------------------------  ------------------------------------------------ 
    c.      Price(s) and volume(s)                 Price(s)   Volume(s) 
                                               1.   n/a        200,000 
                                                   ---------  ---------- 
                                               2.   n/a        100,000 
                                                   ---------  ---------- 
                                               3.   n/a        40,000 
                                                   ---------  ---------- 
                                               4.   n/a        80,000 
                                                   ---------  ---------- 
           ------------------------------  ------------------------------------------------ 
    d.           Aggregated information                       Price(s)   Volume(s) 
                   *    Aggregated volume                 1.   n/a        200,000 
                                                              ---------  ---------- 
                                                          2.   n/a        100,000 
                   *    Price                                 ---------  ---------- 
                                                          3.   n/a        40,000 
                                                              ---------  ---------- 
                                                          4.   n/a        80,000 
                                                              ---------  ---------- 
           ------------------------------  ------------------------------------------------ 
    e.      Date of the transaction          10 August 2022 
           ------------------------------  ------------------------------------------------ 
    f.      Place of the transaction        Outside a trading venue 
           ------------------------------  ------------------------------------------------ 
 

- End -

For further information please visit www.tenlifestylegroup.com or call:

 
  Ten Lifestyle Group plc 
   Alex Cheatle, Chief Executive Officer            +44 (0)20 7850 
   Alan Donald, Chief Financial Officer              2796 
 
    Peel Hunt LLP, Nominated Advisor and Broker 
    Paul Gillam                                       +44 (0) 20 7418 
    James Smith                                       8900 
 

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc is a leading technology-enabled, global concierge platform, helping wealthy and mass affluent individuals and their families to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and more quickly than they could themselves.

Underpinned by industry-first technology, Ten provides its trusted concierge services to millions of members, in over 15 languages, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG).

The growth engine at the heart of Ten's business model is the driving force behind its progress towards its objective to become the most trusted service platform in the world.

For further information please go to: www.tenlifestylegroup.com .

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END

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(END) Dow Jones Newswires

August 10, 2022 02:00 ET (06:00 GMT)

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