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12 Jan 2010 16:22
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Greenko Group plc
("Greenko" or "the Company")
Revised LTIP terms
InΒ AprilΒ 2008, Greenko announced the implementation of an LTIP which had been envisaged at the time of the Company's flotation in October 2007. The scheme involved the issue to the executive Directors of up to 10 per cent. of the issued share capital depending on the achievement of certain price based targets.Β
The remuneration committee has decided to amend certain terms of the scheme to reflect the achievement of milestones of generating capacity as well as price targets. This reflects the move away from purely price based targets amongst institutional investors. The quantum of the maximum award achievable has not changed from 10 per cent. The changes reflect the major advances made by the executive Directors in moving the Company from 27MW of operating capacity at flotation to 90MW currently with a further 10MW undergoing commissioning.Β
Details of the new terms of the LTIP will be circulated to shareholders before the next General Meeting.
Enquiries
Greenko Group plc
Anil Chalamalasetty Β +91 (0)98 4964 3333Β
Mahesh Kolli +91 (0)99 4958 6332
Arden Partners plc +44 (0)20 7614 5900
Chris Hardie
Adrian Trimmings
Cardew Group
Rupert Pittman +44 (0)20 7930 0777
Jamie Milton
Catherine Maitland
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