TEN ENTERTAINMENT GROUP PLC — Remuneration Information 2017

May 22, 2017

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 8769F

Ten Entertainment Group PLC

22 May 2017

Ten Entertainment Group plc

Performance Share Plan Awards

Ten Entertainment Group plc (LSE: TEG the "Company") announces that on Monday 22 May 2017 its Executive Directors were granted the following share awards as nominal-cost options over ordinary shares of £0.01 each in the Company ("Shares") under the Company's Performance Share Plan ("PSP"). The awards have been granted in accordance with the remuneration policy adopted by the Board and set out in the Company's Prospectus that was issued on Wednesday 12 April 2017.

Director	Position	Number of Share Awards Granted
Alan Hand	Chief Executive Officer	333,333
Mark Willis	Chief Financial Officer	212,121
Graham Blackwell	Chief Commercial Officer	193,939

These awards (the "Initial PSP Awards") are subject to two performance conditions which will be measured following the announcement of results for the year to 31 December 2019 ("FY2019").

The first performance condition applying to the Initial 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 - Financial Year 2019	Percentage of the total number of Share Awards granted that will vest
Less than 21.08 pence	0%
21.08 pence	12.5%
Between 21.08 and 22.19 pence	Pro-rata on straight-line basis between 12.5% and 50%
More than 22.19 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 over the period from the date of grant to the announcement of results for FY2019relative to a comparator group of companies and will apply to the remaining 50 per cent. of Share Awards granted.

It is intended that 12.5 per cent. of the total number of Share Awards will vest on achievement of median TSR performance and that 50 per cent. of such will vest on achievement of upper quartile performance. There will be straight line vesting between these points. 

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the PSP

For further information please contact:

	Ten Entertainment Group plc Alan Hand, Chief Executive Officer Mark Willis, Chief Financial Officer		via Instinctif Partners
	Instinctif Partners Matthew Smallwood Guy Scarborough		020 7457 2020

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Alan Hand

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

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 instrument, type of instrument and identification code

Ordinary shares of £0.01 each

ISIN: GB00BF020D33

b)

Nature of the transaction

Grant of PSP Performance Shares Award. The Award is structured as a nominal cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£nil	333,333

d)

Aggregated information

Aggregated volume

Price

Volume: 333,333

Price: £nil

e)

Date of the transaction

22 May 2017

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Mark Willis

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

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 instrument, type of instrument and identification code

Ordinary shares of £0.01 each

ISIN: GB00BF020D33

b)

Nature of the transaction

Grant of PSP Performance Shares Award. The Award is structured as a nominal cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£nil	212,121

d)

Aggregated information

Aggregated volume

Price

Volume: 212,121

Price: £nil

e)

Date of the transaction

22 May 2017

f)

Place of the transaction

Outside a trading venue

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Graham Blackwell

2.

Reason for the notification

a)

Position / status

Chief Commercial Director

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

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 and identification code

Ordinary shares of £0.01 each

ISIN: GB00BF020D33

b)

Nature of the transaction

Grant of PSP Performance Shares Award. The Award is structured as a nominal cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
£nil	193,939

d)

Aggregated information

Aggregated volume

Price

Volume: 193,939

Price: £nil

e)

Date of the transaction

22 May 2017

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHBUGDUBGDBGRD