Business
CPPGroup Plc Long Term Incentive Plan
CPPGroup Plc Long Term Incentive Plan.
About this update from Cpp Group Plc
[{"type":"text","content":"\n \nRNS Number : 3686M CPPGroup Plc 20 January 2016 \n\n20 January 2016\nCPPGroup plc\nDirector Shareholdings\n \nCPPGroup Plc Long Term Incentive Plan\nOn 19 January 2016, options over ordinary shares of 1p each in CPPGroup plc (\"CPP\" or the \"Company\") were awarded to the following Directors under the CPPGroup Plc Long Term Incentive Plan 2016 (the \"Plan\"):\n\n\n\n\nName of Director\n\n\nNumber of options awarded\n\n\n\n\nStephen Callaghan\n\n\n8,000,000\n\n\n\n\nMichael Corcoran\n\n\n5,050,000\n\n\n\n\n \nNo consideration was paid for the grant of the awards which are structured as nil cost options. \nThe vesting of an award is subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company. The awards will normally vest following the third anniversary of the grant and the determination of the performance conditions, and will then normally remain exercisable until the day before the tenth anniversary of the date of the grant provided the individual remains an employee or officer of the Company.\nFollowing the above awards, the directors' total interest in the Company's shares are as follows:\n\n\n\n\n\n\n\nOrdinary shares held\n\n\nInterests in unvested shares under incentive plans\n\n\n\n\nStephen Callaghan\n\n\n3.000,000\n\n\n17,000,000\n\n\n\n\nMichael Corcoran\n\n\n1,875,000\n\n\n10,675,000\n\n\n\n\nRuth Evans\n\n\n208,571\n\n\n0\n\n\n\n\n \nThe total number of options awarded under the Plan to the directors and certain other senior employees on this date was 26,050,000. \nThe total issued share capital of the Group as at the date of this announcement is 852,833,955.\n \nRoger Canham, Chairman of CPPGroup commented: \"Under Stephen's leadership, CPP is undertaking an operational turnaround and is implementing a growth strategy to seize the substantial market opportunity that exists for this business. \n\"As part of this, we have put in place an objective and transparent incentivisation structure for our senior management team, designed to attract and retain the best talent available, and closely align their performance with the interests of our shareholders.\" \n \nEnquiries:\nCPPGroup Plc\nLorraine Beavis, Group Company Secretary\nTel: +44 (0)1904 545395\n \nNominated Adviser and Broker\nNumis Securities Limited: Stuart Skinner; ...