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14 Oct 2014 09:37
14 October 2014
Renewable Energy Generation Limited
Long Term Incentive Plan
Renewable Energy Generation Limited ("the Company") (AIM: WIND) announces that it has made awards under its Long Term Incentive Plan of 384,350 and 272,231 to Andrew Whalley and David Crockford (directors of the Company) respectively. A further 456,322 awards were made to other key senior executives who are not directors of the Company.
The Remuneration Committee has determined that in each case the vesting of these awards should be linked to, and be conditional upon, a performance condition measuring the Company's total shareholder return over a three-year performance period against the total shareholder return over the same period of the companies constituting the FTSE AIM All Share Index. If the Company is ranked at the median, 25% of the shares in an award will vest with 100% vesting if it is ranked in the top quartile. Between these the percentage of shares in an award will vest on a straight-line sliding scale with the awards lapsing if the Company is ranked below the median.
In addition the Company announces that it has granted options under its Employee Share Option Scheme over 550,000 ordinary shares in the Company. These options are not subject to performance conditions and have a three year vesting period and a ten year exercise period from the date of grant. The exercise price of the options is 67.25pence.
Enquiries:
Renewable Energy Generation Limited Andrew Whalley, Chief Executive Officer David Crockford, Finance Director Ian Lawrence, Communications Manager | +44 (0)1483 346550 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser) Martyn Fraser | +44 (0)117 376 2213 |
Cenkos (Corporate Broker) Bobbie Hilliam/Max Hartley | +44 (0)20 73978900 |
Broker Profile Simon CourtenayTamsin Shephard | +44 (0)20 7448 3244 |
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