11 Jul 2013 16:11
The Mission Marketing Group plc
Annual LTIP Awards and Vesting; EBT Share Dealings
The Mission Marketing Group plc ("TMMG" or "the missiontm"), the national marketing communications and advertising group, announces the following details of awards and vesting of nil-cost options under the TMMG Long Term Incentive Plan (the "LTIP").
The Remuneration Committee of the TMMG Board has today approved the grant of 1,540,000 new LTIP options, representing 2% of the Company's issued share capital, taking the total number of LTIP options in issue to 5,047,100, representing 6.6% of the Company's issued share capital. LTIP option awards may be satisfied by shares held by The Mission Marketing Group Employee Benefit Trust ("EBT") and/or through the issue of new shares, as appropriate. The vesting of these LTIP options is dependent upon achieving levels of profit growth over the three year period of the options.
Separately, the Remuneration Committee judged that the profit performance in relation to LTIP options granted in 2009 and 2010, which were dependent upon profits over the three year period ended on 31 December 2012, was sufficient to permit 90% of those awards to vest (on 13th July 2013). As a consequence, 10% of LTIP options granted in 2009 and 2010 will lapse.
The following table sets out the details of LTIP options granted to Directors and lapsed:
Directo | Existing LTIP options | New LTIP options | Lapsed options | Total LTIP options |
Dylan Bogg | 220,000 | 30,000 | (9,000) | 241,000 |
James Clifton | 0 | 56,000 | - | 56,000 |
Robert Day | 313,667 | 110,000 | (6,000) | 417,667 |
Peter Fitzwilliam | 90,000 | 50,000 | - | 140,000 |
Chris Goodwin | 60,000 | 35,000 | - | 95,000 |
Giles Lee | 302,000 | 70,000 | (10,200) | 361,800 |
David Morgan | 90,000 | 50,000 | - | 90,000 |
Chris Morris | 123,000 | 50,000 | (5,500) | 167,500 |
Sue Mullen | 55,000 | 22,500 | (2,500) | 75,000 |
Fiona Shepherd | 101,000 | 50,000 | (2,100) | 148,900 |
In addition to the above, the Company was today informed that the EBT today purchased 200,000 of the Company's ordinary shares of 10 pence each at an average price of 23.5p. Following this transaction, the EBT's interest in the missiontm is 1,604,126 Ordinary Shares, representing approximately 2.1% of the issued share capital of the Company.
Enquiries: | |
The Mission Marketing Group plc | 020 3463 2099 |
Peter Fitzwilliam, Finance Director |
|
finnCap Limited | 020 7220 0500 |
Geoff Nash / Henrik Persson (Corporate Finance) Simon Starr (Corporate Broking) |
the missiontm is a national marketing communications and advertising group with 17 offices across the UK. The Group specialises in providing national and international clients with award winning marketing, advertising and business communications. Group members include Addiction, April-Six, Balloon Dog, Big Communications, Bray Leino, RLA, Robson Brown, Story, ThinkBDW and Yucca. the missiontm employs aver 800 staff nationally and is listed on AIM (TMMG).
www.themission.co.uk
The Mission Group (TMG)