Last checked at 22 Dec 2020 07:00
22 December 2020
Ten Lifestyle Group plc
("Ten" or the "Company")
Exercise of Share Options, Admission of New Ordinary Shares and Grant of Options
Exercise of Share Options and Admission of New Ordinary Shares
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world's wealthy and mass affluent, announces that it has issued 84,417 new Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares") pursuant to the exercise of options by employees under its Company Share Option Plan.
Applications have been made for the 84,417 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on or around 24 December 2020.
The total number of Ordinary Shares in issue following Admission will be 80,761,229. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Grant of Options
The Company has also granted nil cost options to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs") over Ordinary Shares, pursuant to the Ten Lifestyle Group Plc Management Incentive Plan dated 9 November 2017 (the "MIP Options").
PDMR | Position | Number of new MIP Options granted | Resulting total options held over Ordinary Shares |
Alex Cheatle | CEO | 200,000 | 1,231,708 |
Andrew Long | Group COO and CEO (Asia) | 100,000 | 889,089 |
Sarah Hornbuckle | Client Services Director | 40,000 | 279,728 |
Alan Donald | CFO | 75,000 | 469,508 |
The nil cost MIP Options will vest following announcement of the Company's financial results for the year ending 31 August 2023, subject to the performance conditions of the MIP Options.
The performance conditions are based on total shareholder return ("TSR") and, for some participants, operational targets. For Alex Cheatle, Alan Donald and Sarah Hornbuckle, their performance condition is wholly linked to the compound annual growth rate of TSR. Andrew Long's performance conditions are linked to the compound annual growth rate of TSR as well as to Net Revenue growth in APAC and profit making in that region. The Remuneration Committee believes the aforementioned performance metrics appropriately incentivise and are aligned with the Company's strategic goals and the long-term interests of shareholders.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these MIP Options.
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||
a. | Name | 1. Alex Cheatle 2. Andrew Long 3. Sarah Hornbuckle 4. Alan Donald | |||||||||||||||
2. | Reason for the notification | ||||||||||||||||
a. | Position/status | 1. Chief Executive Officer 2. Group COO and CEO (Asia) 3. Client Services Director 4. CFO | |||||||||||||||
b. | Initial notification /Amendment | Initial notification | |||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||
a. | Name | Ten Lifestyle Group plc | |||||||||||||||
b. | LEI | 213800YK94ZUOJUMN686 | |||||||||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||||||||
a. | Description of the Financial instrument, type of instrument Identification code | Options over Ordinary Shares of 0.1 pence
GB00BF188X60 | |||||||||||||||
b. | Nature of the transaction | Grant of options under the Management Incentive Plan
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
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e. | Date of the transaction | 21 December 2020 | |||||||||||||||
f. | Place of the transaction | Outside a trading venue | |||||||||||||||
- End -
For further information please visit www.tenlifestylegroup.com or call:
Ten Lifestyle Group plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer
| +44 (0)20 7850 2796
|
Peel Hunt LLP, Nominated Advisor and Broker Edward Knight Paul Gillam Nick Prowting
|
+44 (0) 20 7418 8900 |
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading technology-enabled, global concierge platform, helping wealthy and mass affluent individuals and their families to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and quicker than they could themselves.
Underpinned by industry-first technology, Ten provides its trusted concierge services to its more than 2 million members, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG). Ten Lifestyle Group's objective is to become the most trusted service platform in the world.
For further information about Ten Lifestyle Group Plc, please go to: www.tenlifestylegroup.com