LTIP Performance Conditions

RNS Number : 7705G

C&C Group Plc

28 July 2021

 

C&C Group plc

('C&C')

2021 Long Term Incentive Plan ('LTIP') Awards - Performance Conditions

As announced on 15 June 2021, the Company's Executive Directors were granted awards under the LTIP, in the form of nil cost options over €0.01 ordinary shares in the Company.

The details of the performance metrics for the awards have now been finalised and are set out below.

Performance conditions

Measure	Weighting	Further detail
Earnings per share	45%	Threshold - 22p Maximum - 27p By the end of year 3 target range (end of FY24) rather than as a cumulative target.
Free cash flow conversion	35%	Threshold - 65% Maximum - 75% By the end of year 3 target range (end of FY24) rather than as a cumulative target.
Environmental Target	20%	To give impetus to C&C's de-carbonisation efforts, the Company has set a target to reduce its Scope 1 emissions and Scope 2 emissions* over the three financial years ending with FY24 as follows: Threshold - 6% reduction Maximum - 12% reduction * Definitions Scope 1: direct emissions from owned or controlled sources, which includes emissions from company-owned or operated facilities and vehicles. Scope 2: indirect emissions from the generation of purchased energy e.g. electricity, steam, heat and cooling.

In each case, threshold vesting will be 25% of the maximum.

Mark Chilton

Company Secretary and Group General Counsel

28 July 2021

 

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