Business
Executive LTIP Awards
Executive LTIP Awards.
About this update from Logistics Development Group Plc
[{"type":"text","content":"\n \nRNS Number : 5789Y Eddie Stobart Logistics PLC 09 May 2019 \n\nEddie Stobart Logistics plc\n(\"Eddie Stobart\" or the \"Company\")\nExecutive LTIP awards - PDMR dealings \nEddie Stobart, a leading UK end-to-end supply chain, transport and logistics group, announces that under the terms of the Company's Long Term Incentive Plan (LTIP), awards were granted to the Executive Directors on 8 May 2019. Awards over 627,533 shares and 284,264 shares were awarded to Alex Laffey, Chief Executive and Anoop Kang, Chief Financial Officer, respectively. \nEach award gives the holder the right to exercise a nil-cost option at the end of a three-year period from the date of the award, subject to the following performance criteria (which apply by reference to the start of the 2019 financial year):\n· Vesting of 75 per cent of the award is based on achievement of 10 per cent compound growth in Earnings Per Share per annum\n· Vesting of 25 per cent of the award is based on achievement of 10 per cent compound growth in Total Shareholder Returns per annum.\nThe awards were calculated by reference to the basic salaries of the executive directors (150 per cent for the Chief Executive and 100 per cent for the Chief Financial Officer) divided by a share price of 98.5p. It is the Board's intention that, in line with guidelines issued by investor representative bodies, no more than 10 per cent of the Company's issued share capital will be issued or committed under employee share-based incentive schemes in the ten year period from the date of the admission of the Company to listing on the Alternative Investment Market.\nFurther information on the terms of the LTIP is included in the 2019 Annual Report and Accounts.\nFurther inquiries:\n\n\n\nEddie Stobart Logistics plc \n\n\n(0)1925 605400\n\n\n\n\nAlex Laffey, Chief Executive Officer\n\n\n\n\n\n\n\nAnoop Kang, Chief Financial Officer \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting\n\n\n(0)20 3727 1340\n\n\n\n\nNick Hasell / Alex Le May / Matthew O'Keeffe \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities Plc (Nomad & Joint Broker)\n\n\n(0)20 7397 8900\n\n\n\n\nNicholas Wells / Giles Balleny / Harry Hargreaves\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBerenberg (Joint broker)\n\n\n(0)20 3207 7800\n\n\n\n\nChris Bowman / Toby Flaux...