Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • Investegate.co.uk
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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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ASOS PLC (ASC)

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Thursday 24 May, 2012

ASOS PLC

Management Incentive Plan

RNS Number : 9850D
ASOS PLC
24 May 2012
 



 

24 May 2012

 

 

 

ASOS plc ("ASOS" or the "Company")

 

Management Incentive Plan

 

 

As disclosed in the Company's 2010 and 2011 Annual Report and Accounts, with effect from 1 April 2009, the Company implemented during 2010 a three year Management Incentive Plan ("MIP"), the performance period for which ended on 31 March 2012.

 

The purpose of the plan was to incentivise and reward the management of ASOS for superior performance through the achievement of challenging growth targets and to align the interests of management with those of shareholders in the Company.

 

To this end, the MIP provided executive directors and certain senior employees of the Company the opportunity to demonstrate their commitment to and belief in the future plans for the Company by investing their own money to buy subordinated shares issued in a subsidiary company, ASOS.com Limited, to be exchanged in two equal tranches, on 30 September 2012 and 30 September 2013, into ASOS shares in a set ratio, subject to the Company's performance against the conditions of the plan.

 

During the term of the MIP, the management team of the Company has been extremely successful in generating real returns for shareholders. On 31 March 2012, ASOS's market capitalisation was £1.37bn, up from £218.5m on 31 March 2009, an increase of over 500%.

 

The MIP set interdependent growth in earnings per share ("EPS") and total shareholder return ("TSR") targets.

 

Under the EPS performance target, the maximum performance required an annual compound growth rate in EPS of 42% per annum over the period of the MIP. As at 31 March 2012, this target had been met.

 

The shareholder return (TSR) condition required the comparison of the TSR on an investment in the Company with the TSR on a notional investment in all of the companies in the FTSE All Share General Retailers Index (the "Index") during the life of the MIP. Maximum performance under the MIP required that the ASOS TSR be in the top of the top decile relative to the Index. Over the period, the ASOS TSR was 472.6%*, at the top of the top decile compared to the Index and the TSR condition was also therefore met in full.

 

On 23 May 2012, based upon the recommendation of the Remuneration Committee of the Company, the Company approved the exchange of subordinated ordinary shares in ASOS.com Limited, which are held by the participants as follows, to a total of 4,000,822 ordinary shares with a nominal value of 3.5 pence each in ASOS plc ("Ordinary Shares"):

 

 


Ordinary Shares vesting from 30 September 2012

Ordinary Shares vesting from 30 September 2013

Total number of Ordinary Shares to be received under the MIP

Nick Robertson

744,792

744,792

1,489,584

Nick Beighton

365,094

365,094

730,188

Jon Kamaluddin

305,217

305,217

610,434

Robert Bready

394,302

394,302

788,604

Other senior employees

191,006

191,006

382,012

 

 

Application will be made for the 4,000,822 Ordinary Shares to be admitted to trading on AIM. These new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company and the new Ordinary Shares are expected to be admitted to trading on AIM on 31 May 2012.  These new Ordinary Shares will remain subject to the applicable terms and conditions of the MIP, and participants will not be free to deal in those shares, until the respective release dates in September 2012 and September 2013.

 

* The Total Shareholder Return is calculated using the average closing share price from 1 March 2009 to 31 March 2009 and from 1 March 2012 to 31 March 2012

 

For further information:

 

ASOS

Tel: 020 7756 1017

Greg Feehely, Head of Investor Relations




College Hill

Tel: 020 7457 2020

Matthew Smallwood/Justine Warren/Jamie Ramsay




JPMorgan Cazenove 

Tel: 020 7742 4000

Luke Bordewich/Gina Gibson




Numis Securities

Tel: 020 7260 1000

Alex Ham 


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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