Tyman 2019 LTIP Awards

RNS Number : 3653T

Tyman PLC

19 March 2019

 

TYMAN PLC

("Tyman" or the "Company")

2019 Awards

Tyman plc, a leading international supplier of engineered components to the door and window industry, announces that on 18 March 2019 ("Award Date") the Remuneration Committee of the Company granted share awards (the "2019 Awards") under the Tyman Long Term Incentive Plan (the "LTIP"), in the form of nil cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares").

2019 Awards have been granted to the Chief Executive Officer Designate, Jo Hallas and a further 28 senior managers and executives of the Company over a total of 763,338 Ordinary Shares.  No 2019 Awards were made to the Executive Directors, Louis Eperjesi and James Brotherton.

Award made to Chief Executive Officer Designate:

Name	Number of Shares
Jo Hallas	225,038

Vesting of 2019 Awards

Vesting of 2019 Awards is based on the Company's three-year cumulative underlying earnings per share ("EPS") for the financial years 2019 to 2021 of 95.0p (lower threshold - 25% vesting) and 112.0p (upper threshold - 100% vesting) and subject to a discretionary underpin based on, inter alia, relative TSR over the period 2019 - 2021 and reported ROCE performance in 2021 of not less than 15 per cent., under current accounting policies.

Five year holding period

Awards granted to the Executive Directors and members of the Tyman Management Committee that vest shall be subject to a compulsory holding period of five years from the Award Date.

Timetable and Awards Outstanding

2019 Awards are expected to vest in March 2022, following the announcement of the Company's results for the year ended 31 December 2021 and the holding requirement is expected to lapse on 18 March 2024.

In aggregate, as at today's date, a total of 2,334,734 awards are outstanding over the Company's Ordinary Shares under the LTIP.

19 March 2019

Tyman plc	020 7976 8000
Carolyn Gibson - Company Secretary	www.tymanplc.com

 

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