Result of AGM and LTIP awards

RNS Number : 8014L

Goodwin PLC

05 October 2016

 

GOODWIN PLC

5th October 2016

RESULT OF ANNUAL GENERAL MEETING

Goodwin PLC ("the Company") announces that at the Company's Annual General Meeting, held today all resolutions detailed in the Notice of Meeting, each being ordinary resolutions, were passed.

Details of proxy votes received will be shown on the Company's website under Shareholder Information/AGM details.

EQUITY LONG TERM INCENTIVE PLAN AWARDS 

As a result of the passing of Resolution 8 at the Annual General Meeting held today Goodwin PLC is pleased to announce that it has today granted the following options under the Equity Long Term Incentive Plan ("Plan") to the Executive Directors of the Company.

The award of options under the Plan are over the ordinary shares in the Company and are exercisable at an exercise price of 10p per share. Full details of the Plan were contained in the Notice of General Meeting held on 5th October 2016.

The options will not vest earlier than May 2019 and are subject to the achievement of a stretching performance target relating to growth in Total Shareholder Return ("TSR") as follows:

(a)  Following the end of the Company's financial year ending 30th April 2019, the Board shall determine the TSR of the shares and determine the growth achieved since 2009.

(b)  for each 10% growth in TSR (representing additional growth over and above the 166.09% growth achieved between 30th April 2009 and 30th April 2016), ordinary shares equal to 0.05% of the issued ordinary share capital of the Company (up to a maximum of 72,000 ordinary shares) may be acquired by exercise of the option; and

(c)  if such growth in TSR is less than 10%, no ordinary shares may be acquired and the option will immediately lapse.

Name of Director	Maximum number of ordinary shares under option	Maximum percentage of existing issued ordinary shares under option (%)
J. W. Goodwin	72,000	1
R. S. Goodwin	72,000	1
J. Connolly	72,000	1
M. S. Goodwin	72,000	1
S. R. Goodwin	72,000	1
S. C. Birks	72,000	1
B. R. E. Goodwin	72,000	1
T. J. W. Goodwin	72,000	1
Total	576,000	8

Enquiries:

Chairman: John Goodwin
Tel: [phone]
Email: [e-mail]

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