Business
Shareholder Circular & Notice of General Meeting
Shareholder Circular & Notice of General Meeting.
About this update from Lsl Property Services Plc
[{"type":"text","content":"\n\n9 May 2025\n \nLSL Property Services plc ('LSL' or the 'Company')\nShareholder Circular and Notice of General Meeting\nProposed Updated Remuneration Policy\nFollowing the publication of LSL's Annual Report and Accounts 2024, the Board has been reviewing both the Remuneration Policy for Executive Directors and the broader remuneration approach to ensure it is effective. As disclosed in the Annual Report, the Company has been in consultation with shareholders in respect of potential amendments to the policy and approach, with the purpose of ensuring that the Group retains appropriate remuneration structures to reward good performance and deliver value to shareholders.\n \nLSL has today published a circular containing a notice convening a General Meeting seeking shareholder approval of amendments to the Directors' Remuneration Policy (the Updated Remuneration Policy) and introduction of the LSL Property Services plc 2025 Long Term Incentive Plan (the 2025 LTIP) (the Circular).\n \nKey features of the proposed 2025 LTIP\n \n Awards are proposed to be granted to executive directors and other senior employees of the Company, with participants able to share in the growth in the value of the Company created over a five-year performance period. The total pool available will be based on up to 10% of the growth in the Company's equity value.\n \n The growth in equity value will be measured against a starting share price of £2.78, being the average share price over the month of January 2025, and there will be two vesting dates: 31 December 2027 (year 3); and 31 December 2029 (year 5). At each vesting date, no value in the scheme will be created if the growth in value is less than 10% CAGR and will be capped at 10% of growth in equity value on achieving 15% CAGR or more.\n \n Any shares received by a participant under the 2025 LTIP cannot be sold until 31 December 2029 (subject to payments for taxes).\n \n Share awards may be satisfied by the transfer of shares which are purchased in the market or from the Company's employee benefit trust. No new shares may be issued to satisfy the vesting of awards.\n \n The Remuneration Committee may make appropriate adjustments to take account of any distributions to shareholders (other than dividends...