Mulberry Group PLC Grants under new Long Term Incentive Plan (1415U)
December 21 2012 - 6:14AM
UK Regulatory
TIDMMUL
RNS Number : 1415U
Mulberry Group PLC
21 December 2012
Mulberry Group plc
Grants under new Long Term Incentive Plan
Mulberry Group plc ("Mulberry" or the "Company") announces that,
on 19 December 2012, the Board of Mulberry approved the
establishment of a new executive incentive plan, the Mulberry Group
plc Long Term Incentive Plan (the "LTIP"). The LTIP is designed to
align management and shareholders' interests through rewarding
participants for growth in Mulberry's turnover and earnings before
interest and tax ("EBIT") above specified thresholds over the
vesting period. The LTIP will be the primary long term incentive
scheme going forward.
Pursuant to establishment of the LTIP, nil cost options (the
"New Options") over ordinary shares of 5 pence each in the Company
(the "Ordinary Shares") were yesterday granted to Bruno Guillon
(Chief Executive), Roger Mather (Group Finance Director) and other
members of the broader management team as set out below:
Number of New Options Number of New Options
granted yesterday granted to date
-------------------- --------------------- ---------------------
Bruno Guillon 83,964 83,964
Roger Mather 23,090 23,090
Other key employees 118,764 118,764
-------------------- --------------------- ---------------------
Total 225,818 225,818
The New Options, with the exception of those granted to Bruno
Guillon, will vest (subject to reaching set financial performance
targets) on 30 June 2015 and will be exercisable between 1 July
2015 and 1 July 2020. The New Options granted to Bruno Guillon will
vest (subject to reaching set financial performance targets) on 30
June 2014 and will be exercisable between 1 July 2014 and 1 July
2019.
Further details of the LTIP will be included in Mulberry's
annual report for the year to 31 March 2013.
In addition to his New Options, Bruno Guillon holds rights over
200,670 Ordinary Shares under Mulberry's Co-Ownership Plan.
In addition to his New Options, Roger Mather's beneficial
interest in the Company consists of 32,166 Ordinary Shares
representing 0.05% of the Company's issued Ordinary Shares. Roger
Mather also holds vested rights over 250,000 Ordinary Shares under
Mulberry's Co-Ownership Plan, 10,449 unvested deferred Ordinary
Shares, 10,449 unvested matching nil cost options and 19,768 vested
nil cost options all under the Company's Deferred Bonus Plan.
Enquiries:
Pelham Bell Pottinger
Daniel de Belder / Lucy Miles 0797 792 7142 / 0792 047 7184
Mulberry Investor Relations
Amelia Fincher 0207 605 6771
Altium
Ben Thorne / Melanie Szalkiewicz 0207 484 4040
Barclays
Jon Bathard-Smith / Nicola Tennent 0203 134 9803
This information is provided by RNS
The company news service from the London Stock Exchange
END
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