Last checked at 28 Jul 2022 11:00
C&C Group plc
('C&C')
2021 Long Term Incentive Plan ('LTIP') Awards
On 15 June 2021, LTIP awards were granted to the Company's Executive Directors. The performance conditions for those awards were announced on 28 July 2021, and reported in the Company's Directors' Remuneration Report for the period ended 28 February 2022.
Following a review of the targets for the EPS element of the performance conditions, the Remuneration Committee has noted that the EPS target for maximum vesting had not been adjusted for the impact of the rights issue undertaken by the Company in 2021. Accordingly, the EPS target for maximum vesting has been subsequently adjusted for the rights issue consistent with International accounting standards (IAS 33) as set out below. The Free Cash Flow and Environmental targets have not been adjusted. No other changes have been made to the awards.
Measure | Weighting | Targets as originally set | Adjusted targets |
Earnings per share | 45% | Threshold (25% vesting) - 22 cents
Maximum - 27 cents
By the end of year 3 target range (end of FY24) rather than as a cumulative target. | Threshold (25% vesting) - 22 cents
Maximum - 24.5 cents
By the end of year 3 target range (end of FY24) rather than as a cumulative target. |
Contacts
C&C Group plcPatrick McMahon, Chief Financial OfficerEwan Robertson, Finance and Investor Relations DirectorEmail: ewan.robertson@candcgroup.com
FTI ConsultingJonathan Neilan / Paddy BerkeryTel: +353 86 231 4135 / +353 86 602 5988Email: CandCGroup@fticonsulting.com
Novella CommunicationsTim RobertsonTel: +44 203 151 7008Email: TimR@novella-comms.com