Cerillion PLC Implementation of Long Term Incentive Plan (2051R)
September 19 2017 - 11:39AM
UK Regulatory
TIDMCER
RNS Number : 2051R
Cerillion PLC
19 September 2017
19 September 2017
AIM: CER
Cerillion plc
("Cerillion" or "the Company" or "the Group")
Implementation of Long Term Incentive Plan
Cerillion, the billing, charging and customer relationship
management ("CRM") software solutions provider, is pleased to
announce the establishment of a new Long-Term Incentive Plan
("LTIP") and the grant of options under the LTIP to six members of
the Company's senior management team (together the "Senior
Managers").
The LTIP has been established to further incentivise the Senior
Managers, who currently have limited equity in the Group, in the
creation of long-term value for shareholders. The options are
exercisable at the nominal value of the ordinary shares and have
today been granted over an aggregate of 300,000 ordinary shares,
representing approximately 1% of the current issued share capital
of the Company. The LTIP provides for these options to vest, in
full, three years from the date of the grant, subject to the
achievement of targets for compound annual growth in the share
price of the Company over this vesting period. The targets are as
follows:
Below 8% compound annual nil vesting
growth:
8% compound annual growth: 25% vesting
15% compound annual growth: 100% vesting
Between 8% and 15% compound straight line vesting
annual growth: between 25% and 100%
The LTIP also contains standard provisions dealing with certain
matters such as cessation of employment and change of control. No
Directors of the Company are participants in the LTIP.
For further information please contact:
Cerillion plc c/o KTZ Communications
Louis Hall, CEO T: 020 3178 6378
Oliver Gilchrist, CFO
Shore Capital (Nomad and T: 020 7408 4090
Broker)
Bidhi Bhoma
Toby Gibbs
KTZ Communications T: 020 3178 6378
Katie Tzouliadis
Irene Bermont-Penn
Emma Pearson
About Cerillion
Cerillion is a leading provider of mission critical software for
billing, charging and CRM, with a 17 year track record in providing
comprehensive revenue and customer management solutions. The
Company has approximately 80 customer installations across over 40
countries, principally serving the telecommunications market but
also utilities and financial services.
Led by a highly experienced management team, the Company is
headquartered in London, with operations in Pune, India where its
Global Solutions Centre is located.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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