Business
New Long Term Incentive Plan
New Long Term Incentive Plan.
About this update from Property Franchise Group Plc
[{"type":"text","content":"\n \nRNS Number : 6940H Property Franchise Group PLC (The) 09 June 2017 \n\nTHE PROPERTY FRANCHISE GROUP PLC\n \n(the \"Company\" or the \"Group\")\n \nNew Long Term Incentive Plan\n \nThe Property Franchise Group, the UK's largest property franchisor with 6 brands across a network of 375 offices, today announces that it has granted options over new ordinary shares in the Company to its Chief Executive Officer and Chief Financial Officer under a new TPFG Share Option Plan. The awards, which are the first to the Executives since the Initial Public Offering in December 2013, recognise each of their roles in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.\n \nThe awards will be subject to the growth in the Company's basic earnings per share, excluding exceptional income/costs and share based payments (\"adjusted EPS\") over the 3 years to 31 December 2019. Adjusted EPS growth of 15% over the period will be required for threshold vesting of the awards, with adjusted EPS growth of 44% or higher required for all of the awards to vest. There will be a straight line sliding scale between these two points. None of the awards will vest for adjusted EPS growth below 15% over the period. \n \nThe maximum awards are stated below. \n \nName Position Number of shares\n &n...