Granting of allocations under the LTIP

RNS Number : 2631N

AssetCo PLC

29 September 2021

 

29 September 2021

AssetCo plc

("AssetCo" or the "Company")

Granting of allocations under the Company's Annual Bonus and Long-Term Incentive Plan ("LTIP")

AssetCo announces that on 28 September 2021 the following directors and persons discharging managerial responsibilities ("PDMRs") were granted an allocation for the current financial year ending 30 September 2021 under the terms of the LTIP. Importantly, any awards paid in respect of the current financial year will be satisfied in full by the issue of new shares in the Company, rather than one third being satisfied in cash and two thirds in new shares. The Board believes this, and the Remuneration Committee's ongoing review of the quantum, terms and form of the LTIP for future years, will align further the interests of senior management with shareholders.

PDMR	Position	Percentage allocation of total awards
Martin Gilbert	Chairman	30.0%
Peter McKellar	Deputy Chairman and Chief Executive Officer	25.0%

Further to the announcement on 15 September 2021, that Campbell Fleming will be appointed Chief Executive Officer of the Company with effect from 2 October 2021, the Company announces that Campbell Fleming has been allocated 12.0% of the total awards allocated for the current financial year.

In addition the Board confirms that, in line with the terms of the LTIP, the final awards for the current financial year will be calculated and approved by the Remuneration Committee in late November/early December 2021 at which point a further announcement will be made.

Enquiries:

AssetCo plc

Peter McKellar, Deputy Chairman and CEO

James Thorneley, Head of Communications

Tel: [phone]

Arden Partners plc

Nominated adviser and broker

John Llewellyn-Lloyd / Louisa Waddell / Akhil Shah

Tel: [phone]

Maitland

Neil Bennett

Rachel Cohen

Tel: [phone]

 

END

 

 

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