Business
Management Long Term Incentive Plan
Management Long Term Incentive Plan.
About this update from Autins Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2323M\n Autins Group PLC\n 20 January 2021\n \n \n \n \n 20 January 2021\n \n \n \n \n \n Autins Group plc\n \n \n (the \"Company\" or the \"Group\")\n \n \n Management Long Term Incentive Plan\n \n Autins Group plc (AIM: AUTG), the UK and European manufacturer of the patented Neptune melt-blown material and specialist in the design, manufacture and supply of acoustic and thermal insulation solutions, announces a new long term incentive plan (\"LTIP\") in order to reward and incentivise the senior executives to deliver further sustainable and managed growth for the Company.\n \n Total nil cost awards under the LTIP have been granted over 2,858,107 ordinary shares and are subject to performance criteria over the three year period ending 30 September 2023 as detailed below.\n \n The LTIP awards over 1,270,268 ordinary shares are dependent on Group EBITDA targets in the three financial years ending 30 September 2023 (\"EBITDA Awards\"). For the maximum awards to be met the Group will need to deliver in aggregate an accumulative EBITDA of £6.0million (excluding any IFRS adjustments) over the three financial years ending 30 September 2023.\n \n Further LTIP awards over 1,587,839 ordinary shares are dependent on the Group's share price at 30 September 2023 (\"Share Price Awards\"). If the Group's share price is less than 35 pence per share at 30 September 2023 none of the these awards will vest. If the Group's share price is 65 pence or more, 100% of the Share Price Awards will vest.\n \n The Share Price and EBITDA Awards will vest in three equal annual instalments from 1 October 2023.\n \n Awards have been granted to Gareth Kaminski-Cook (CEO), Kamran Munir (CFO) and Joshua Kimberling, Group Sales Director, as outlined below:\n \n \n \n \n \n Director /PDMR\n \n \n EBITDA Awards\n \n \n Share Price Awards\n \n \n Total Awards\n \n \n \n \n Gareth Kaminski-Cook\n \n \n 648,648\n \n \n 810,811\n \n \n 1,459,459\n \n \n \n \n Kamran Munir\n \n \n 472,972\n \n \n 591,217\n \n \n 1,064,189\n \n \n \n \n Joshua Kimberling\n \n \n 148,648\n \n \n 185,811\n \n \n 334,459\n \n \n \n \n \n \n \n All prior share options relating to the above named persons have been cancelled in respect of 355,321 options over ordinary shares. \n \n \n \n...