Ten Entertainment Group PLC Notification of Transactions by PDMRs (6964B)
11 Junio 2021 - 10:24AM
UK Regulatory
TIDMTEG
RNS Number : 6964B
Ten Entertainment Group PLC
11 June 2021
11 June 2021
Ten Entertainment Group plc
Notification of Transactions by Persons Discharging Managerial
Responsibilities ("PDMRs")
Ten Entertainment Group plc (the "Company") announces that on 11
June 2020, the Performance Share Plan awards granted in the 2018
scheme on 11 June 2018 have vested. The awards were granted to the
three Executive Directors at the time, of which only Graham
Blackwell is still with the Company. Continuous employment over the
term of the scheme is a performance condition and thus only Graham
Blackwell can exercise his options.
The Remuneration Committee reviewed the other performance
conditions of the scheme with 50% applying to Earning per Share
(EPS) and 50% to Total Shareholder Return (TSR). Only the TSR
performance condition was met and the extent to which the award
would vest is calculated in accordance with the below table:
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 falls between Median and Upper Quartile and so the
percentage of awards vesting was calculated on a straight-line
basis and 21.9% of the TSR vests. The total award to Graham
Blackwell was 95,149 options and so the Remuneration Committee have
approved the vesting of 20,814 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 2018 Performance Share Plan, application was made
to the UK Listing Authority and the London Stock Exchange plc for
20,814 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, all 20,814 shares were disposed of by Graham
Blackwell at an aggregated price of 243.52 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 68,367,784 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.
Further details regarding the share awards are set out within
the Directors' Remuneration Report within the Company's 2020 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 Commercial 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 20,814
----------
(2) 243.52p 20,814
----------
------------------------------- -------------------------------------
d. Aggregated information N/A
* Aggregated volume
* Price
------------------------------- -------------------------------------
e. Date of the transaction 11 June 2021
------------------------------- -------------------------------------
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, Jack Devoy
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June 11, 2021 11:24 ET (15:24 GMT)
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