Learning Technologies Group PLC Grant of options, director dealing and PDMRs (1158X)
31 Décembre 2021 - 8:00AM
UK Regulatory
TIDMLTG
RNS Number : 1158X
Learning Technologies Group PLC
31 December 2021
31 December 2021
Learning Technologies Group plc
("LTG", the "Group")
(AIM: LTG)
Grant of options, director dealing and PDMRs
Pursuant to the adoption of a new long term incentive plan
("LTIP"), the Company confirms the grant of share options with an
option price of GBP0.00375 per share (the "Awards") to the
following executive directors and PDMRs:
Executive Directors:
Jonathan Satchell, Chief Executive: 6,000,000
Kath Kearney-Croft, Chief Financial Officer: 3,000,000
Piers Lea, Chief Strategy Officer: 3,000,000
PDMRs:
Claire Walsh, Head of Legal and Company Secretary: 1,500,000
Nick Bowyer, Chief Operating Officer: 2,000,000
The grant of the Awards is conditional on each recipient waiving
and forfeiting all of their existing share options in the
Company.
The Awards will vest: 50% on the fourth anniversary of the grant
date and 50% on the fifth anniversary of the grant date; and in
each case subject to the satisfaction of challenging performance
conditions, which are summarised below. All awards are subject to a
holding period which will end on the fifth anniversary of the grant
date.
66.67% of the Award Shares will be subject to the following TSR
performance conditions:
Equivalent CAGR of TSR of % of Award Shares subject
the Company over the Performance to the TSR Performance Condition
Period capable of Vesting
(i.e. expressed as a percentage
of 66.67% of the total number
of Shares originally subject
to the Award)
Less than 10% p.a. 0%
------------------------------------
10% p.a. 0%
------------------------------------
Between 10% p.a. and 20% p.a. Straight-line Vesting between
0% and 50%
------------------------------------
20% p.a. 50%
------------------------------------
Between 20% p.a. and 25% p.a. Straight-line Vesting between
50% and 100%
------------------------------------
25% p.a. or more 100%
------------------------------------
33.3% of the Award Shares will be subject to the following EPS
Performance Conditions:
Equivalent CAGR of EPS during % of Award Shares subject to
the Performance Period the EPS Performance Condition
capable of Vesting
(i.e. expressed as a percentage
of 33.33% of the total number
of Shares originally subject
to the Award)
Less than 10% p.a. 0%
---------------------------------------
10% p.a. 0%
---------------------------------------
Between 10% p.a. and 20% Straight-line Vesting between
p.a. 0% and 50%
---------------------------------------
20% p.a. 50%
---------------------------------------
Between 20% p.a. and 25% Straight-line Vesting between
p.a. 50% and 100%
---------------------------------------
25% p.a. or more 100%
---------------------------------------
The Company's Remuneration Committee consulted with leading
shareholders on the LTIP awards and performance conditions.
Enquiries:
Learning Technologies Group plc
Jonathan Satchell, Chief Executive +44 (0)20 7402
Kath Kearney-Croft, Chief Financial Officer 1554
Numis Securities Limited (NOMAD and Corporate
Broker) +44 (0)20 7260
Stuart Skinner, Nick Westlake, Ben Stoop 1000
Goldman Sachs International (Joint Corporate
Broker) +44 (0)20 7774
Bertie Whitehead, Adam Laikin 1000
FTI Consulting (Public Relations Adviser) +44 (0)20 3727
Rob Mindell, Jamie Ricketts, Jamille Smith 1000
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END
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