Remuneration Information • Mar 26, 2019
Remuneration Information
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RNS Number : 0576U
Spire Healthcare Group PLC
26 March 2019
26 March 2019
Spire Healthcare Group plc
Grant of 2019 Long Term Incentive Plan awards
Spire Healthcare Group plc (the "Company") announces that, on 25 March 2019, a performance share award (the "Award") was granted over the Company's ordinary shares in the form of nil cost options to the following Executive Directors in the Company, under the rules of the Spire Healthcare Group plc Long Term Incentive Plan.
Name Maximum number of shares under Award
Justin Ash 694,444
Jitesh Sodha 446,025
The number of shares set out above represents 150% of each Executive Director's base salary and is the maximum number which may vest under the Award following the end of the performance period (31 December 2021). The shareholder approved Remuneration Policy enables awards of up to 200% of base salary.
The actual number of shares which vest will depend on the extent to which the relevant performance conditions have been satisfied.
The performance conditions applicable to the Award will be based as follows:
· 35% on relative total shareholder return (TSR) performance;
· 35% on adjusted earnings per share (EPS) performance; and
· 30% on two Operational Excellence measures.
Further details of these performance conditions will be disclosed in the 2018 Directors' Remuneration Report which will be published in April.
The share price used to determine the number of shares under the Award was £1.3284 being the average of the middle market quotation over the five dealing days ending on 22 March 2019.
The transaction place is London.
Notes:
1) The 2019 awards described above will also be subject to a two-year holding period.
2) As previously disclosed, Justin Ash and Jitesh Sodha also have interests in awards granted during 2018 under the same Long-Term Incentive Plan. These 2018 awards are based on performance in the three-year period to 31 December 2020.
3) Justin Ash has an interest over a maximum of 576,058 shares under the 2018 award.
4) Jitesh Sodha has an interest over a maximum of 414,219 shares under the 2018 award. It is noted that the original RNS announcement dated 8 October 2018 incorrectly referenced an award over 415,381 shares. Jitesh Sodha has subsequently waived his interest over 1,162 shares, to ensure that his 2018 award is over the correct number of shares.
5) The actual number of shares which vest will depend on the extent to which the relevant performance conditions are satisfied in due course.
Name of contact and telephone number for queries:
Philip Davies 020 7427 9092
Deputy Company Secretary
The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.
| a) | Name | Justin Ash | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Spire Healthcare Group plc | |
| b) | LEI | 213800IBJPW3SE2RA350 | |
| 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 instrument, type of instrument Identification code |
Ordinary shares of 1 pence each GB00BNLPYF73 |
|
| b) | Nature of the transaction | Grant of performance share awards under the Company's Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 694,444 | ||
| d) | Aggregated information - Aggregated volume - Price |
As above | |
| e) | Date of the transaction | 2019-03-25 | |
| f) | Place of the transaction | XLON |
| a) | Name | Jitesh Sodha | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Financial Officer | |
| b) | Initial notification /Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Spire Healthcare Group plc | |
| b) | LEI | 213800IBJPW3SE2RA350 | |
| 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 instrument, type of instrument Identification code |
Ordinary shares of 1 pence each GB00BNLPYF73 |
|
| b) | Nature of the transaction | Grant of performance share awards under the Company's Long Term Incentive Plan | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil | 446,025 | ||
| d) | Aggregated information - Aggregated volume - Price |
As above | |
| e) | Date of the transaction | 2019-03-25 | |
| f) | Place of the transaction | XLON |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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