Business
Implementation of Value Builder Plan, PDMR dealing
Implementation of Value Builder Plan, PDMR dealing.
About this update from Fintel Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9560T\n Fintel PLC\n 30 November 2021\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the company's obligations under Article 17 of MAR. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n 30 November 2021\n \n \n \n \n \n Fintel plc\n \n \n (\"Fintel\" or the \"Company\")\n \n \n \n \n \n Implementation of Value Builder Plan, and PDMR dealing\n \n \n \n \n \n Fintel plc (AIM: FNTL) is pleased to announce the implementation of its Value Builder Plan (\"\n \n VB Plan\n \n \") and a number of initial grants of awards under the VB Plan to colleagues. The VB Plan has been created, following extensive consultation with many of the Company's shareholders, to incentivise our executive and senior teams to deliver long-term value creation for shareholders.\n \n \n \n \n \n Closure of MIP scheme\n \n \n \n \n \n The Management Incentive Plan (\"\n \n MIP\n \n \") has been satisfied in full via the allotment of shares (see RNS\n \n 0179S of 11 November 2021 for full details). No further awards will be made under the MIP and the scheme is therefore closed.\n \n \n \n \n \n New Value Builder Plan\n \n \n \n \n \n The VB plan creates a distributable value pot (\"\n \n Value Pot\n \n \"), the size of which is determined as being a fixed proportion of the growth in the market capitalisation of the Company over three-year performance periods.\n It is the intention to base the VB Plan on annual awards (\"Tranches\"), and the first Tranche has a performance period from 01 May 2021 to 30 April 2024. \n \n \n \n \n \n The size of the Value Pot in any one Tranche is set at 5.5% of the growth in market capitalisation achieved in the relevant performance period.\n \n \n \n \n \n In addition, the awards will be subject to a floor of Earnings Per Share (EPS) growth, set by the \n Remuneration Committee (\"RemCo\").\n \n \n \n \n \n The Value Pot for each Tranche will be allocated at the discretion ...