2021 Long Term Incentive Plan ('LTIP') Awards

RNS Number : 0888U

C&C Group Plc

28 July 2022

 

C&C Group plc

('C&C')

2021 Long Term Incentive Plan ('LTIP') Awards

On 15 June 2021, LTIP awards were granted to the Company's Executive Directors. The performance conditions for those awards were announced on 28 July 2021, and reported in the Company's Directors' Remuneration Report for the period ended 28 February 2022.

Following a review of the targets for the EPS element of the performance conditions, the Remuneration Committee has noted that the EPS target for maximum vesting had not been adjusted for the impact of the rights issue undertaken by the Company in 2021.  Accordingly, the EPS target for maximum vesting has been subsequently adjusted for the rights issue consistent with International accounting standards (IAS 33) as set out below. The Free Cash Flow and Environmental targets have not been adjusted. No other changes have been made to the awards.

M easure	W eighting	T argets as originally set	A djusted targets
Earnings per share	45%	Threshold (25% vesting) - 22 cents Maximum - 27 cents By the end of year 3 target range (end of FY24) rather than as a cumulative target.	Threshold (25% vesting) - 22 cents Maximum - 24.5 cents By the end of year 3 target range (end of FY24) rather than as a cumulative target.

Contacts

C&C Group plc
Patrick McMahon, Chief Financial Officer
Ewan Robertson, Finance and Investor Relations Director
Email:  [e-mail]  

FTI Consulting
Jonathan Neilan / Paddy Berkery
Tel: [phone]
Email:  [e-mail]

Novella Communications
Tim Robertson
Tel: [phone]
Email:  [e-mail]

 

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