Ten Entertainment Group PLC Performance Share Plan Awards (1620P)
15 Octubre 2021 - 1:00AM
UK Regulatory
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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END
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October 15, 2021 02:00 ET (06:00 GMT)
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