Business
Long Term Incentive Plan Awards
Long Term Incentive Plan Awards.
About this update from Duke Capital Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 7845Q\n Duke Royalty Limited\n 29 October 2021\n \n \n \n \n 29 October 2021\n \n \n \n \n \n Duke Royalty Limited\n \n \n (\"Duke Royalty\", \"Duke\" or the \"Company\")\n \n \n Long Term Incentive Plan (\"LTIP\") Awards \n \n \n Issue of Equity\n \n \n Director/PDMR Dealings\n \n \n \n \n \n New grant under LTIP \n \n \n \n \n \n Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, announces that the Company's Remuneration Committee has approved the grant of a total of 2,108,000 conditional rights to acquire ordinary shares of no par value (\"Performance Share Awards\" or \"PSAs\") under the Company's Long-Term Incentive Plan (\"LTIP\"). The LTIP framework was detailed within the Company's admission document which was published on 20 March 2017 and was put into place post Admission.\n \n \n \n \n \n PSAs for the financial year to 31 March 2021 have been granted are as follows:\n \n \n \n \n \n \n \n \n Neil Johnson\n \n \n \n \n 470,500\n \n \n \n \n \n \n Charlie Cannon Brookes\n \n \n \n \n 423,500 \n \n \n \n \n \n \n Other employees (non-PDMRs)\n \n \n \n \n 1,214,000 \n \n \n \n \n \n \n Total\n \n \n \n \n 2,108,000\n \n \n \n \n \n \n \n \n The PSAs vest after a period of three years and are subject to various performance conditions outlined in the Company's admission document (and available on the Company's website) and set by the Remuneration Committee, all in accordance with the LTIP rules. The LTIP Awards will be subject to performance conditions, (50 per cent. based on growth in total shareholder return (\"TSR\") and 50 per cent. on growth in total cash available for distribution per share (\"TCAD per Share\")). TSR can be defined as the returns generated by shareholders based on the combined value of the dividends paid out by the Company and the share price performance over the period in question.\n \n \n \n \n \n Vesting of 2018 PSAs, transfer from EBT & Director/PDMR interests \n \n \n \n \n \n The Company also announces that a total of 1,456,875 PSAs previously granted under the Company's 2018 LTIP award have vested, representing 87.5% of the PSAs granted at that time. \n \n \n \n \n \n Of ...