RE: New invective RNS22 Dec 2022 14:16
My favourite bit...!
Value Shares will represent 35% of the total number of Options and will realise value provided that the volume weighted average price of the shares for the 90 trading days immediately preceding and including 31 December of each calendar year is as follows:
o 2023: 37.50 pence per share
o 2024: 46.88 pence per share
o 2025: 58.60 pence per share
o Value Shares will be granted in proportion to the uplift in the share price since the previous award date such that if the growth in share price falls short of the target by 5%, then the number of Value shares awarded will be reduced by 5%. However, if share price growth is less than 10% in any year of award, no award of Value Shares will be made for that year.
o Failure to achieve the relevant trigger in one year will not be recoverable by over-achievement in subsequent years. This means there will be no "re-testing."
-- Enhanced Value Shares will equate to 35% of the total number of Options. Enhanced Value Shares may be available in two equal amounts at any time up to the end of 2025, with half of the Enhanced Value Shares triggered by the Company's share price being at or above a volume weighted average price of 60 pence per ordinary share for a period of 60 days, and the other half being triggered by the share price being at or above a volume weighted average price of 100 pence per ordinary share for a period of 60 days