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20 Jul 2017 13:48
RNS Announcement
20 July 2017
For Immediate Release
TalkTalk Telecom Group PLC (the "Company")
Long Term Incentive Awards
The Company makes a notification in accordance with DTR 3.1.2 R and section 793 of the Companies Act 2006 in respect of awards granted pursuant to the Company's Shareholder Value Plan ("SVP").
Tristia Harrison and Charles Bligh have each acquired 200 I ordinary shares of 1 pence each in TalkTalk Group Limited ("TTG"), a subsidiary of the Company. They have also today each transferred to the Company and are no longer interested in 100 H ordinary shares of 1 pence each in TTG.
In accordance with our approved Remuneration Policy, the SVP is designed to align the interests of the Company's shareholders and senior management allowing them to share in the incremental shareholder value created over the next 3 and 4 years. The above participation shares have been acquired for market value using interest bearing loans made by TTG to each of the participants on commercial terms. Vesting is dependent on performance conditions being satisfied in 2020 and 2021. Also, no participant will receive any value until the full amount of the loan including interest has been repaid in full.
The above shares do not represent any holding of listed shares in the Company and, therefore, the executive Directors' shareholdings in the Company are unchanged.
Further information:
Company Secretary Tim Morris +44(0) 3802 9138
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