2019 Long-Term Incentive Plan

RNS Number : 9500B

SAGA PLC

12 June 2019

 

Saga plc

2019 Long-Term Incentive Plan

Saga plc ("Saga" or "the Company"), the UK's specialist in products and services for life after 50, announces the following statement from Gareth Williams, Chair of the Remuneration Committee:

"In my Chair's Statement in the 2019 Annual Report & Accounts, I set out the Committee's intention to consult with shareholders on new performance conditions for the Company's Long-Term Incentive Plan to support the implementation of the Company's new strategy.

It was our intention that the consultation would be completed in May 2019 with the final outcome published on the Company's website prior to the Annual General Meeting on 19 June 2019.

The Committee is very grateful for the engagement and feedback received from shareholders to date and has decided to extend the process to enable this dialogue between the Committee and shareholders to continue. The final outcome of this consultation will be published on the Company's website in advance of any LTIP awards being made in 2019.

Given the announcement earlier today regarding Lance Batchelor, no LTIP will be awarded to him in respect of the current financial year ended 31 January 2020. James Quin, appointed CFO on 1 January 2019, is currently the only Executive Director eligible for an LTIP award in the current year."

Enquiries

Saga plc

Vicki Haynes, Company Secretary                                                             Tel: [phone]

Enbrook Park

Sandgate

Folkestone

Kent

CT20 3SE

 

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