Renewable Energy Generation Ltd LTIP and Share Option Scheme awards (7001Q)

TIDMWIND

RNS Number : 7001Q

Renewable Energy Generation Ltd

17 October 2013

Renewable Energy Generation Limited

LTIP and Share Option Scheme awards

Renewable Energy Generation Limited ("the Company") (AIM: WIND), the UK renewable energy group, announces that it has made awards under its Long Term Incentive Plan of 321,211 and 227,524 to Andrew Whalley and David Crockford (directors of the Company) respectively. A further 296,020 awards were made to other key senior executives who are not directors of the Company.

The Remuneration Committee has determined that in each case the vesting of these awards should be linked to, and be conditional upon, a performance condition measuring the Company's total shareholder return over a three-year performance period against the total shareholder return over the same period of the companies constituting the FTSE AIM All Share Index. If the Company is ranked at the median, 25% of the shares in an award will vest with 100% vesting if it is ranked in the top quartile. Between these the percentage of shares in an award will vest on a straight-line sliding scale with the awards lapsing if the Company is ranked below the median.

In addition the Company announces that it has granted options under its Employee Share Option Scheme over 455,000 ordinary shares in the Company. These options are not subject to performance conditions and have a three year vesting period and a ten year exercise period from the date of grant. The exercise price of the options is 78.5 pence.

Enquiries:

 
 Renewable Energy Generation Limited             +44 (0)1483 901 
  David Crockford, Finance Director               790 
 Smith & Williamson Corporate Finance Limited    +44 (0)117 376 
  Martyn Fraser                                   2213 
 Cenkos (Corporate Broker)                       +44 (0)20 7397 
  Bobbie Hilliam                                  8900 
 Broker Profile                                   +44 (0)20 7448 
  Simon Courtenay                                  3244

This information is provided by RNS

The company news service from the London Stock Exchange

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