Long Term Incentive Awards

RNS Number : 8119T

International Greetings PLC

08 October 2014

 

8^th October 2014

International Greetings Plc

('IG' or the 'Company')

Long Term Incentive Awards

The Company today announces it intends to issue up to 283,333 shares to Anthony Lawrinson, the Group's Chief Financial Officer and up to 262,083 shares to Lance Burn, Director, under the Long Term Incentive Plan announced on 31^st March 2014.

Vesting is conditional upon and proportionate to the cumulative average growth in fully diluted earnings per share before exceptional items over a defined period from 1 April 2014 to 31 March 2017 with a CAGR of 20% required for the whole amount to vest and a minimum CAGR of 10% for any shares to vest.  The cost to Mr Lawrinson and Mr Burns of the Ordinary Shares to be issued under the LTIP, if the performance criterion is met, will be nil.

Mr Lawrinson already has 1,400,000 options over Ordinary Shares also subject to performance criteria.  Mr Burn has no other options over Ordinary Shares.

For further information, please contact: International Greetings plc Paul Fineman, Chief Executive Anthony Lawrinson, Chief Financial Officer Tel: [phone] Cenkos Securities plc Bobbie Hilliam Harry Pardoe Tel: [phone]

 

END

 

 

RDSZVLFBZBFZFBK