TIDMTEG

RNS Number : 1620P

Ten Entertainment Group PLC

15 October 2021

15 October 2021

Ten Entertainment Group plc

Performance Share Plan Awards

Ten Entertainment Group plc (the "Company") announces that on 15 October 2021 its Executive Directors were granted the following share awards as nominal-cost options over ordinary shares of GBP0.01 each in the Company ("Shares") under the Company's Performance Share Plan ("PSP"). The awards were granted on 14 October 2021 (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 2021.

 
 Director            Position                   Number of Share 
                                                 Awards Granted 
 Graham Blackwell    Chief Executive Officer            172,862 
 Antony Smith        Chief Financial Officer            144,981 
 

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 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    Percentage of the total number 
  2023 ("FY2023")                        of Share Awards granted that 
                                         will vest 
 Less than 17.50 pence                  0% 
                                       ------------------------------- 
 17.50 pence                            12.5% 
                                       ------------------------------- 
 Between 17.50 and 20.50 pence          Pro-rata on straight-line 
                                         basis between 12.5% and 50% 
                                       ------------------------------- 
 More than 20.50 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 and 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    Percentage of Award that 
  Group Companies                                vests 
 Below Median                                     0% 
                                      ------------------------- 
 Median                                         12.5% 
                                      ------------------------- 
 Between Median and Median plus        Between 12.5% and 50% on 
  10% p.a.*                              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

Penny Bainbridge

 
 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         172,862 
                                                            ------------------------------------- 
 Aggregated information and volume price                     Total volume of shares: 172,862 
                                                              Total price GBP GBPnil 
                                                            ------------------------------------- 
 Date of transaction                                         15 October 2021 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         144,981 
                                                            ------------------------------------- 
 Aggregated information and volume price                     Total volume of shares: 144,981 
                                                              Total price GBP GBPnil 
                                                            ------------------------------------- 
 Date of transaction                                         15 October 2021 UK BST 
                                                            ------------------------------------- 
 Place of transaction                                        Outside a trading venue 
                                                            ------------------------------------- 
 
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October 15, 2021 02:00 ET (06:00 GMT)

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