Last checked at 14 Jun 2021 07:00
For immediate release 14 June 2021
RWS Holdings plc
New CEO Share Purchase and Remuneration Arrangements
RWS Holdings plc ("RWS", "the Group", "the Company"), the world's leading provider of technology-enabled language, content management and intellectual property services, today provides the following update regarding Ian El-Mokadem's share purchases and remuneration, further to the announcement on 8 June 2021 regarding his appointment to become CEO of the Group with effect from 25 July 2021.
Director/PDMR Share Purchase
The Group was notified on 11 June 2021 that Mr El-Mokadem acquired 40,000 ordinary shares of 1 pence each in the Company ("Shares"), at 582.5p. Following this share purchase, Ian El-Mokadem will have a total beneficial interest in 40,000 Shares in the Company.
Remuneration
The main elements of Mr El-Mokadem's remuneration arrangements, which are consistent with the Group's recently reviewed Directors' Remuneration Policy, and are equivalent to the outgoing CEO, Richard Thompson's, remuneration arrangements, will be as follows:
· Base salary: £600,000 p.a.
· Maximum annual bonus: 150% of salary, with 40% of the annual bonus based on sliding scale profit targets, 30% based on sliding scale revenue targets and 30% based on personal and strategic targets. Any bonus award greater than 100% of salary will normally be deferred into shares for three years.
· LTIP award: 200% of salary p.a., with vesting dependent on stretching EPS growth targets and relative Total Shareholder Return performance measured against the constituents of the FTSE 250 (excluding Investment Trusts). The award will be granted annually, have a three year performance period, and there will be a two-year post vesting holding period.
· Share ownership guidelines: 200% of base salary.
· Pension: 5% of salary.
For further information, please contact:
RWS Holdings plc Andrew Brode, Chairman |
01753 480796 |
MHP (Financial PR advisor) Katie Hunt / Simon Hockridge |
rws@mhpc.com 0203 128 8100 |
Numis (Nomad & Joint Broker) Stuart Skinner / Kevin Cruickshank / Will Baunton
|
0207 260 1000
|
Berenberg (Joint Broker) Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff |
0203 207 7800
|
About RWS:
RWS is the world's leading language services and technology group. Over the last 60 years, the company has built a reputation for quality, reliability and flexibility with its global team of translators, searchers and technical experts.
RWS's specialist divisions combine the latest technology, proven processes and highly skilled staff to deliver complex services at each stage of the product lifecycle to meet the diverse needs of a global client base spanning Europe, Asia Pacific, and North and South America across a range of sectors including technology, pharmaceutical, medical, chemical, automotive, and telecommunications.
With headquarters in the UK, RWS is publicly listed on AIM, the London Stock Exchange regulated market (RWS.L).
For further information, please visit: www.rws.com