RE: Too many performance share units awarded?29 Nov 2024 16:07
Longinvestor……The original award (3years) was for 2,850,000 ADS which equates to ten times the number of ordinary shares (refer to below link for the historic RNS giving the ADS details etc explanation). Hence the 1st year vesting award which somewhat confusingly in the RNS today makes reference to ordinary shares rather than to ADS, equates to 2,735,000 / 28,500,000 x 100 = 9.6% of the total. So he has received well below the full 1/3rd (9,500,000 ordinary shares) that were potentially available for vesting after the 1st year.
https://www.lse.co.uk/rns/closing-of-offering-07fozj9caagq8pf.html
Notwithstanding, it is still a sizeable vested interest (circa 1/4 million pounds at current SP) being received by CEO in stock today that should encourage him to make all efforts to pursue a business path to get the SP heading north….that would be fully aligned with all shareholders.