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17 Sep 2020 12:10
CHARLES STANLEY GROUP PLC
("the Company")
Update on LTIP Performance Condition Ranges
As noted in the Company's Annual Report for the year ended 31 March 2020, the Remuneration Committee took a decision in May 2020, taking account of market conditions as a result of COVID-19, to defer any decision on the threshold and maximum ranges for the Earnings Per Share ("EPS") and Margin performance conditions which would apply to awards made under the Company's Long Term Incentive Plan in the year ending 31 March 2021.
The Company announces that the Remuneration Committee has now agreed to set the threshold and maximum ranges for the EPS and Margin performance conditions.
For the purpose of the EPS performance condition, which accounts for up to 50% of an award, the Remuneration Committee has set an EPS range for threshold and maximum vesting. The details are set out below:
EPS target for year-ended 31 March 2023 | Portion of 50% of Award that vests |
42p and above | 100% |
Between 30p and 42p | Pro-rata on straight-line basis between 20% and 100% |
30p | 20% |
Below 30p | 0% |
For the purpose of the Margin performance condition, which accounts for up to 50% of an award, the Remuneration Committee has set a Margin range for threshold and maximum vesting. The details are set out below:
Margin for year-ended 31 March 2023 | Portion of 50% of Award that vests |
16% and above | 100% |
Between 10% and 16% | Pro-rata on straight-line basis between 20% and 100% |
10% | 20% |
Below 10% | 0% |
Julie Ung
Company Secretary
Charles Stanley Group PLC LEI: 213800LBSEGKE5MCYC90
For further information, please contact:
Charles Stanley Siobhan Griffiths via KTZ Communications | Canaccord Genuity David Tyrrell 020 7523 4677 | Peel Hunt Andrew Buchanan 020 3597 8680 | KTZ Communications Katie Tzouliadis 020 3178 6384 Dan Mahoney 020 3178 6383
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Notes to editors:
Charles Stanley traces its origins back directly to 1792 and is one of the oldest firms on the London Stock Exchange. Charles Stanley today provides holistic wealth management services to private clients, charities and smaller institutions. These are delivered by over 800 professionals located in 26 offices throughout the UK, both direct to clients and to intermediaries. Our services include investment portfolio management and financial planning, supported by in-house administration to enhance the quality of service provided. In addition, Charles Stanley Direct provides an award winning direct to customer execution-only dealing platform for equities and funds.
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