Business
Announcement of Share Awards
Announcement of Share Awards.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n\nCentralNic Group plc\n \n(\"CentralNic\" or the \"Company\")\n \n(AIM: CNIC)\n \nShare Awards\n \nCentralNic announces that on 15 May 2023 it has made awards over ordinary shares of £0.001 each (\"Ordinary Shares\") under the CentralNic Group plc Long Term Incentive Plan and the CentralNic Group plc Share Option Plan (the \"LTIP\" and \"SOP\") to Group employees including persons discharging managerial responsibilities (\"PDMRs\") of CentralNic (\"Awards\").\n \nGrant of Awards\n\n\n\nPDMR\n\n\nType of Award\n\n\nNumber of Ordinary Shares subject to Award\n\n\nExercise Price\n\n\n\n\nMichael Riedl\n\n\nLTIP Award\n\n\n3,139,622\n\n\nNil\n\n\n\n\nWilliam Green\n\n\nLTIP Award\n\n\n1,200,000\n\n\nNil\n\n\n\n\nWilliam Green\n\n\nLTIP Award\n\n\n21,256\n\n\nNil\n\n\n\n \n \nThe structure of the Awards is designed as a program of awards over a five-year period which the Board believes will reward and incentivise the Executives to deliver further sustainable and managed growth for the Company, as well as providing a strong retention tool. \n \nThe Awards will be subject to stretching performance targets based on Total Shareholder Return (TSR) measured from 1 January 2023, which are detailed below:\n \n\n\n\nAnnualised TSR over the Performance Period\n\n\nPercentage of the Award that Vests\n\n\n\n\nLess than 10%\n\n\nNil\n\n\n\n\n10%\n\n\n25%\n\n\n\n\n20%\n\n\n100%\n\n\n\n\nBetween 10% and 20%\n\n\nPro rata between 25% and 100%\n\n\n\n \n \nSubject to achievement of these targets and their remaining in employment with CentralNic, the Awards vest in three separate tranches as set out in the table below. \n \n \n\n\n\n Award\n\n\nPerformance Period\n\n\nVesting Date\n\n\nNo of Share Options\n\n\nTotal\n\n\n\n\nMichael Riedl\n\n\n \n\n\n\n\n\n \n\n\n3,139,622\n\n\n\n\nTranche 1\n\n\n1 Jan 2023 to 31 Dec 2025\n\n\n15 May 2026 \n\n\n1,046,540 \n\n\n\n\n\n\n\nTranche 2\n\n\n1 Jan 2023 to 31 Dec 2026\n\n\n15 May 2027\n\n\n1,046,541 \n\n\n\n\n\n\n\nTranche 3\n\n\n1 Jan 2023 to 31 Dec 2027\n\n\n15 May 2028 \n\n\n1,046,541 \n\n\n\n\n\n\n\nWilliam Green\n\n\n\n\n\n\n\n\n \n\n\n1,200,000\n\n\n\n\nTranche 1\n\n\n1 Jan 2023 to 31 Dec 2025\n\n\n15 May 2026&nb...