Coca-Cola HBC AG 2022 Performance Share Plan Awards (7981Z)
September 16 2022 - 7:32AM
UK Regulatory
TIDMCCH
RNS Number : 7981Z
Coca-Cola HBC AG
16 September 2022
Coca-Cola HBC AG (the "Company")
2022 Performance Share Plan ('PSP') Awards - Performance
Conditions
Zug, Switzerland - 16 September 2022 - As disclosed in the
Integrated Annual Report of the Company for the year ended 31
December 2021 (the "2021 IAR") and as announced on 23 March 2022,
on 15 March 2022 the Chief Executive Officer and certain other
PDMRs of the Company were granted nil-cost performance shares of
CHF 6.70 each (the "Shares") in the Company through their
participation in the Stock Option and Performance Share Award Plan
("PSP"). These awards will vest after three years, subject to the
achievement of performance conditions.
Due to the onset of the conflict between Russia and Ukraine, and
as noted in the 2021 IAR, the calibration of targets had not been
finalised as at the date of grant . It was agreed therefore, that
whilst the 2022 PSP awards would be granted on the usual timeframe
in March 2022, the performance conditions applicable to those
awards would be confirmed within six months of grant. As there is
ongoing instability and disruption in the operating environment,
Russia and Ukraine business financials are excluded from the PSP
targets for the plan 2022-2024. Future performance, related to
Russia-Ukraine, will be excluded when determining the plan's
achievement, even if there is a positive impact.
As determined by the Remuneration Committee, the performance
conditions have now been finalised and are set out below:
Performance Conditions
Measure Weighting Further detail
Earnings per 42.5% Threshold (25% vesting): 1.38
Share (EPS) Maximum (100% vesting): 1.62
Straight line payout curve modelled
from Threshold to Stretch
Performance is determined at the end
of the three-year plan period
---------- ---------------------------------------
Return on Invested 42.5% Threshold (25% vesting): 11.5%
Capital (ROIC) Maximum (100% vesting): 13.4%
Straight line payout curve modelled
from Threshold to Stretch
Performance is determined at the end
of the three-year plan period
---------- ---------------------------------------
Sustainability 15% Threshold (25% vesting): 2.921
Metric ('000 Maximum (100% vesting): 2.720
tons of CO(2) Straight line payout curve modelled
emissions equivalent) from Threshold to Stretch
Performance is determined at the end
of the three-year plan period
---------- ---------------------------------------
Full disclosure in respect of the 2022 PSP awards and applicable
performance conditions will be included in the 2022 Directors'
Remuneration Report.
For further information please contact:
Jan Gustavsson
General Counsel and Company Secretary
+41 (0) 41 726 01 10
ABOUT COCA-COLA HBC
Coca-Cola HBC is a growth-focused consumer packaged goods
business and strategic bottling partner of The Coca-Cola Company.
We create value for all our stakeholders by supporting the
socio-economic development of the communities in which we operate
and we believe building a more positive environmental impact is
integral to our future growth. Together, we and our customers serve
715 million consumers across a broad geographic footprint of 29
countries on three continents. Our portfolio is one of the
strongest, broadest and most flexible in the beverage industry,
offering consumer-leading beverage brands in the sparkling, juice,
water, sport, energy, plant-based, ready-to-drink tea, coffee,
adult sparkling and premium spirits categories. These beverages
include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa,
Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our 33,000 employees and we are ranked among
the top sustainability performers in ESG benchmarks such as the Dow
Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For
more information, please visit
https://www.coca-colahellenic.com.
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