Stvg Regulatory News (STVG)

12 Jul 2007 15:41

SMG PLC12 July 2007 SMG plc (the "Company") Grant of Awards under the Amended LTIP SMG plc announces that on 12 July 2007 the Remuneration Committee has grantedthe following conditional nil cost share awards to the Executive Directors under the amended SMG plc 2005 Long-Term Incentive Plan (the "LTIP") approvedby shareholders at an Extraordinary General Meeting of the Company on 15 June2007. In accordance with the rules of the LTIP, LTIP awards were granted on 12 July 2007 at a price of £0.51 per Ordinary Share (the closing share price on the preceding dealing day) as follows: Executive Number of Ordinary Shares subject to the Director LTIP Award at a price of £0.51 per Ordinary Share Rob Woodward 2,235,294(Chief Executive) George Watt 839,215(Chief Financial Officer) Anmar Kawash 839,215(Director of Strategy and Planning) Robert Hain 284,313(Managing Director,Broadcasting) David Archer(Managing Director, stv Ventures) 284,313 Elizabeth Partyka(Acting Managing Director, Content) 254,901 Suzanne Burns 147,058(HR Director) The Ordinary Shares subject to LTIP awards will normally only be released to the Directors in three years time subject to their continued employment and thesatisfaction of the following performance conditions. The performanceconditions for the 2007 LTIP grant are as follows:- The Award will be split into three Parts:- Part of the Award Measurement Point %age of Award capable of Release Part 1 Share price 12 months after grant 33%Part 2 Share price 24 months after grant 33%Part 3 Share price 36 months after grant 34% The performance conditions for each Part of the Award are as follows:- Element Share Price Target %age of Part of Award capable of Release Part 1 60p 0% 100p 100% Part 2 80p 0% 120p 100% Part 3 100p 0% 140p 100% • The Company share price measured against the relevant Share Price Targets to determine whether the relevant Part of the Award is capable of release will be based on the average of the closing prices of a Company share over the 30 days ending on the date of the measurement point (set out above).• Any Part of the Award capable of release in accordance with the above schedule will be "banked". Banked Parts of the Award will be released on the third anniversary of the date of grant provided the Director remains employed by the Company;• any Part of the Award not capable of release at a particular measurement point will be rolled over into the next Part of the Award. For example if 20% of the 33% of the Award subject to Part 1 was deemed capable of release and banked the balance of 13% would be added to Part 2.• Any part of the Award not released on the third anniversary of the date of grant will lapse. - ENDS - Further enquiries: Jane E A TamesCompany Secretary, SMG plcTel: 0141 300 3074 This information is provided by RNS The company news service from the London Stock Exchange