Chief Executive's Contract

Evolution Group PLC 14 November 2003 14 November, 2003 The Evolution Group Plc Chief Executive's service contract and long term incentive arrangements The Evolution Group Plc ("Evolution", the "Group"), the investment bank and retail fund management group, announces that it has today formalised the arrangements with the Group's Chief Executive, Alex Snow, with respect to the establishment of a formal service contract. Previously, Mr Snow was subject to informal arrangements made at the time of his original employment with the Group in May 2000. The Remuneration Committee of Evolution has considered the establishment of formal arrangements, securing an appropriate notice period and other terms as an absolute imperative. The Remuneration Committee has established a Long Term Incentive Plan for Mr Snow. Mr Snow will be awarded, under the terms of the 2002 Executive Share Incentive Plan, up to 6 million Evolution shares in the form of options at 1p per share in three equal tranches. The first tranche of 2 million shares, in recognition of the establishment of the service contract outlined above, is to be awarded immediately although Mr Snow is restricted from selling any shares he acquires until the announcement of the interim results for the period to 30 June 2004. The second and third tranches will be made in respect of the Group's performance for the full years in 2004 and 2005. These two awards, which are subject to strict Group earnings per share growth performance criteria - being a growth of 15% per annum over the annualised first half 2003 earnings per share of 1.34p announced in the Group's interim results on 3 September 2003 - will be confirmed at the time of the announcement of Evolution's results for these periods in April 2005 and April 2006 respectively. Further details of the above will be included in the Remuneration report in the Report and Accounts for the year ended 31 December 2003 which will be circulated to shareholders in April 2004. ENDS For more information, please contact: The Evolution Group Plc (www.evolution-group.com) Graeme Dell, Finance Director 020 7071 4300 Hogarth Partnership Limited Andrew Jaques/ Georgina Briscoe 020 7357 9477 This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings