Business
Grant of Share Incentives
Grant of Share Incentives.
About this update from Restore Plc
[{"type":"text","content":"\n Mavinwood PLC\n25 April 2007\n\n\n Mavinwood plc\n\n Grant of Share Incentives to Directors\n\n\nThe Board of Mavinwood plc announces that the following grants of share\nincentives over the Company's ordinary shares of 0.1 pence each were made today\nto the undermentioned Directors.\n\nThe share incentives were awarded under the Mavinwood plc Long Term Incentive\nPlan - ('LTIP').\n\nDirector Scheme No. of shares Exercise Price Total number of\n LTIPs held following notification\n\nPhilip Reid LTIP 500,000 0.1p 3,500,000\n\nKevin Mahoney LTIP 2,000,000 0.1p 19,685,000\n\nMike Vincent LTIP 3,000,000 0.1p 18,065,000\n\nJohn Minton LTIP 500,000 0.1p 2,000,000\n\nSteve Watkins LTIP 1,500,000 0.1p 2,500,000\n\nThe exercise period in respect of grants under the LTIP scheme is from 25th\nApril 2010 to 25th April 2017, subject to satisfaction of either of the\napplicable performance criteria which relate to earnings per share growth and\nTotal Shareholder Return (TSR).\n\nThe first test is that the average annual compound growth in EPS exceeds 16% in\nthe 3 year periods ending 31 December 2008, 2009 and 2010.\n\nThe second test is based on TSR (that is share price growth plus re-invested\ndividends) measured over the periods commencing 25th April 2007 as shown in the\ntable below\n\nYears following award TSR\n\n 3 70%\n 4 85%\n 5 100%\n\nTSR shall be measured using the average share price over 20 consecutive days\nprior to the anniversary following award and comparing this with 18.5p. The\nclosing mid-market price on 24th April was 18.5p.\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]