Business
Director Options
Director Options.
About this update from Ten Lifestyle Group Plc
[{"type":"text","content":"\n \nRNS Number : 9124Y Ten Lifestyle Group PLC 07 January 2020 \n\n7th January 2020\nTen Lifestyle Group plc\n(\"Ten\" or the \"Company\")\n \nGrant of Options\n \nTen Lifestyle Group plc (AIM: TENG), a leading technology-enabled lifestyle and travel service platform for the world's wealthy and mass affluent, announces that the Company has granted nil cost options to certain 'persons discharging managerial responsibilities' of the Company (\"PDMRs\") over ordinary shares of 0.1p each in the Company (\"Ordinary Shares\"), pursuant to the Ten Lifestyle Group Plc Management Incentive Plan dated 9 November 2017 (the \"MIP Options\").\n \n \n\n\n\nPDMR\n\n\nPosition\n\n\nNumber of new MIP Options granted\n\n\nResulting total options held over Ordinary Shares\n\n\n\n\nAlex Cheatle\n\n\nChief Executive Officer\n\n\n200,000\n\n\n833,708\n\n\n\n\nAndrew Long\n\n\nGroup Chief Operational Officer and Chief Executive Officer (Asia)\n\n\n100,000\n\n\n433,708\n\n\n\n\nSarah Hornbuckle\n\n\nClient Services Director\n\n\n32,000\n\n\n155,708\n\n\n\n\nAlan Donald\n\n\nChief Financial Officer\n\n\n150,000\n\n\n183,708\n\n\n\n \nThis is the first grant of MIP Options to Mr. Donald since he was appointed as Chief Financial Officer on 24 June 2019. \n \nThe nil cost MIP Options will vest following announcement of the Company's financial results for the year ending 31 August 2022, subject to the performance conditions of the MIP Options.\n \nThe performance conditions are based on total shareholder return (\"TSR\") and, for some participants, operational targets. For Alex Cheatle, Alan Donald and Sarah Hornbuckle, their performance condition is wholly linked to the compound annual growth rate of TSR. Andrew Long's performance conditions are linked to the compound annual growth rate of TSR as well as to Net Revenue growth in APAC and profit making in that region. The Committee believes the aforementioned performance metrics are aligned with achieving KPI growth and driving the Company's strategy forward. \n \nThe notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these MIP Options.\n \nFor further information, please visit https://www.tengroup.com/ or contact:\n \n\n\n\nTen Lifestyle Group Plc\nAlex Cheatle, Chief Execu...