RGU.L Regulatory News (RGU)

24 Mar 2009 16:30



Regus plc 

Share Awards

Regus plc (the "Company") announces that its Remuneration Committee has granted the following share awards to its Executive Directors on 23rd March 2009 at a price of 65.50p per share under the Regus plc Co-Investment Plan (the 'CIP') 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:-

The Investment Share awards granted in accordance with the rules of the CIP represent a deferred bonus payment in respect of 50% of the gross bonus paid under the annual bonus plan for each Executive Director relating to the financial year ending 31st December 2008. In addition the CIP provides for the Remuneration Committee to provisionally award up to four Matching Shares for each Investment Share awarded, subject to the satisfaction of certain conditions. 

The Investment Share awards will vest at the end of a three year holding period, subject to the Executive Director being continuously employed with the Regus Group until 23 March 2012.

The vesting of the Matching Share awards will be subject to the satisfaction of corporate performance targets over a three year performance period. Further details of the conditions and vesting arrangements will be included in the Directors' Remuneration Report in due course. 

Matching Share awards will vest on 23 March 2012. 

The Company also granted share awards under the CIP on 23 March 2009 to the following senior executives discharging management responsibility subject to the same terms and conditions as the above awards to Executive Directors.

*Mark Dixon's awards are conditional upon either attainment of shareholder approval at the Company's annual general meeting or an undertaking from Mark Dixon that upon exercise of the awards he will immediately sell the resulting shares.