RE: RNS - performence shares27 Feb 2020 08:55
Brian McMaster, Executive Chairman of Harvest stated, "It has become clear that operational and share price performance are no longer aligned. As a result, the Board recommended, and all the intended recipients agreed, that the performance shares which were now due should not be issued. The granting of the performance shares was intended to more closely align Management with shareholders interests. Whilst we remain fully committed to realising value for shareholders, accepting shares for nil consideration at a time where share performance is languishing does not, in the Board's view, appear to represent an alignment of interests. We therefore believe it to be more appropriate that we relinquish the right to the shares whilst Management continue to drive development for the benefit of all."