AO WORLD PLC — Remuneration Information 2016

Jul 22, 2016

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RNS Number : 0119F

AO World plc

22 July 2016

AO World plc

Share Option Awards / PDMR Notification

On 21 July 2016 AO World plc ("the Company") granted conditional nil-cost options over a total of 9,514,489 ordinary shares to Executive Directors and certain members of its senior management population.

Of these, options over 3,047,821 ordinary shares (the "2016 PSP Award") were granted under the terms of the AO Performance Share Plan which was approved by shareholders of the Company on 25 February 2014 ("PSP") as part of our normal remuneration policy. 

An award was also made to senior management (but not Executive Directors) following approval by shareholders of the AO World Plc 2016 Employee Reward Plan on 21 July 2016 ("ERP") with the grant of conditional nil cost options over 6,466,668 ordinary shares (the "2016 ERP Award").

The Company has received notification from ten of its "persons discharging managerial responsibilities" pursuant to article 19 of regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse ("Market Abuse Regulation" or "MAR"), on 21 July 2016, who were granted conditional awards in respect of the following number of ordinary shares of 0.25p, under the plans in accordance with the respective rules.

Name	Position	Number of shares under options granted pursuant to the 2016 PSP Award*/**	Number of shares under options granted  pursuant to the 2016 ERP Award*	Total share options outstanding ***
John Roberts	Chief Executive Officer and Founder	502,232	n/a	502,232
Steve Caunce	Chief Operations Officer	435,268	n/a	435,268
Mark Higgins	Chief Financial Officer	669,643	n/a	1,306,915
David Ashwell	Group Logistics Director	126,488	1,000,000	1,763,760
John Coulter	Group Trading Director	126,488	666,667	991,831
Daniel Emmett	Group Retail Operations Director	111,607	666,667	936,764
Andrew Kirkcaldy	Group Brand Director	111,607	1,000,000	1,735,009
David Lawson	Group e-Commerce Director	111,607	666,667	936,764
Kevin Monk	Group International Director	111,607	1,000,000	1,735,009
Adam Warne	Group IT Director	96,726	333,333	482,830

* The amounts shown above represent the maximum possible number of ordinary shares that may be granted to the above named participants under the 2016 PSP Award and the 2016 ERP Award.

**The price used to calculate the maximum number of ordinary shares under the 2016 PSP Award was 134.4p, being the closing price of the Company's shares on the main market of the London Stock Exchange on 20 July 2016, the last dealing day prior to the grant of the 2016 PSP Awards.

***includes the IPO LTIP Awards granted 25 February 2014 and the 2015 LTIP Awards granted on 30 June 2015.

The 2016 PSP Awards are subject to three performance conditions linked to Relative Total Shareholder Return, growth in the Group Adjusted EBITDA and Sales growth and have equal weighting.      

The 2016 ERP Awards are subject to one performance condition being that of Sales growth.

For both awards the performance conditions are measured over a 3 year period ending on 31 March 2019 and are expected to vest in July 2019.

For the purposes of article 19 of MAR, the above transactions took place in the United Kingdom, with a grant date of 21 July 2016 and the Directors being notified on 21 July 2016. 

Enquiries:

AO World plc

Julie Finnemore

Company Secretary

Tel: +44(0)1204 672400

Tulchan Communications

Susanna Voyle

Michelle Clarke

Tel: +44(0) 20 7353 4200

This information is provided by RNS

The company news service from the London Stock Exchange

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