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24 Mar 2010 16:35
Regus plc
Share Awards
Regus plc (the 'Company') announces that its Remuneration Committee granted the following conditional share awards to its Executive Directors on 23rd March 2010 at a price of £1.005 per share. The awards have been granted as nil cost options under the Regus plc Long Term Incentive Plan (the "LTIP") which forms part of the Regus plc Co-Investment Plan which was initially approved by shareholders of Regus Group plc on 26th May 2005 and again on 14th October 2008 by the Company's shareholders following a corporate transaction:-
Name Number of shares subject to conditional LTIP share award Mark Dixon* 520,149 Stephen Gleadle 298,507
The vesting of the LTIP share awards will be subject to the achievement of challenging corporate performance conditions. 75% of the awards shall be subject to defined Earnings Per Share ("EPS") targets over a three year performance period. The remaining 25% of each award will be subject to relative Total Shareholder Return ("TSR") targets over a three year performance period. The EPS and TSR will be measured independently of each other.
Subject thereto the LTIP share awards will vest on 22nd March 2013. Further details of the conditions and vesting arrangements will be included in the Directors' Remuneration Report for 2009.
The Company also granted conditional LTIP share awards on 23rd March 2010 to the following senior executives discharging managerial responsibility subject to the same terms and conditions as the above awards to Executive Directors, except that Mr Rotman shall receive his LTIP share award as a conditional entitlement to shares rather than a nil cost option.
Name Number of shares subject to conditional LTIP share award Paulo Dias 275,351 Guillermo Rotman 305,400 Filippo Sarti 260,178
*Mark Dixon's LTIP share awards are conditional upon either attainment of shareholder approval at the Company's annual general meeting or an undertaking from Mr Dixon that upon exercise of the LTIP share awards he will immediately sell the resulting shares.
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