Business
Implementation of Long Term Incentive Plan
Implementation of Long Term Incentive Plan.
About this update from Cerillion Plc
[{"type":"text","content":"\n \nRNS Number : 2051R Cerillion PLC 19 September 2017 \n\n19 September 2017\nAIM: CER\n \nCerillion plc\n(\"Cerillion\" or \"the Company\" or \"the Group\")\n \nImplementation of Long Term Incentive Plan\n \nCerillion, the billing, charging and customer relationship management (\"CRM\") software solutions provider, is pleased to announce the establishment of a new Long-Term Incentive Plan (\"LTIP\") and the grant of options under the LTIP to six members of the Company's senior management team (together the \"Senior Managers\").\n \nThe LTIP has been established to further incentivise the Senior Managers, who currently have limited equity in the Group, in the creation of long-term value for shareholders. The options are exercisable at the nominal value of the ordinary shares and have today been granted over an aggregate of 300,000 ordinary shares, representing approximately 1% of the current issued share capital of the Company. The LTIP provides for these options to vest, in full, three years from the date of the grant, subject to the achievement of targets for compound annual growth in the share price of the Company over this vesting period. The targets are as follows: \n \n\n\n\n\nBelow 8% compound annual growth:\n\n\nnil vesting\n\n\n\n\n8% compound annual growth:\n\n\n25% vesting\n\n\n\n\n15% compound annual growth: \n\n\n100% vesting\n\n\n\n\nBetween 8% and 15% compound annual growth:\n\n\nstraight line vesting between 25% and 100%\n\n\n\n\n \nThe LTIP also contains standard provisions dealing with certain matters such as cessation of employment and change of control. No Directors of the Company are participants in the LTIP.\n \nFor further information please contact:\n \n\n\n\n\nCerillion plc\nLouis Hall, CEO\n\n\n \n\n\nc/o KTZ Communications\nT: 020 3178 6378\n\n\n\n\nOliver Gilchrist, CFO\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShore Capital (Nomad and Broker)\n\n\n \n\n\nT: 020 7408 4090\n\n\n\n\nBidhi Bhoma\nToby Gibbs\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nKTZ Communications\n\n\n \n\n\nT: 020 3178 6378\n\n\n\n\nKatie Tzouliadis\nIrene Bermont-Penn\nEmma Pearson\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nAbout Cerillion\n \nCerillion is a leading provider ...