Grant of share awards under LTIP
GRANT OF SHARE AWARDS UNDER LONG TERM INCENTIVE PLAN
LONDON (UK), 21 May 2019 - Network International Holdings plc (LSE: NETW) (the Company) has granted conditional share awards (the Awards) under the Network International Holdings Long Term Incentive Plan (the LTIP) to the executive directors and senior managers listed in the table below (the Participants), over the number of ordinary shares in the Company (Shares) set out against each Participant's name.
|
Name |
Number of Shares subject to Award |
|
Simon Haslam |
145,479 |
|
Rohit Malhotra |
95,803 |
|
Samer Soliman |
80,621 |
|
Andrew Key |
74,586 |
The Awards vest, in accordance with the rules of the LTIP, subject to the achievement of financial performance targets over a three year performance period. The performance conditions measure the Company's EPS, TSR and Revenue. The performance conditions were chosen as key indicators of shareholder value, and calibrated to reward sustainable long term performance of the Company and value creation for shareholders.
A two year holding period applies to 100 per cent. of the vested Shares subject to the Awards granted to Simon Haslam and Rohit Malhotra. 40 per cent. of the vested Shares subject to the Awards granted to all other Participants is subject to a holding period, which will cease to apply after one year in respect of half of those Shares, and after two years in respect of the remaining half of those Shares. The vesting of the Awards is subject to malus provisions, and a two year post-vesting clawback period applies to all Awards.
A copy of the FCA notification form in respect of the grant of the Awards to each PDMR, as required under the EU Market Abuse Regulation and in the prescribed format, is set out below.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
|
1. |
Details of PDMR |
|||||
|
a) |
Name |
Simon Haslam |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position / status |
Chief Executive Officer |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3. |
Details of the issuer |
|||||
|
a) |
Name |
Network International Holdings Plc |
||||
|
b) |
Legal Entity Identifier |
213800XVRNKWENNLKK60 |
||||
|
4. |
Details of the transaction(s) |
|||||
|
a) |
Description of the financial instrument |
Shares |
||||
|
b) |
Identification code |
GB00BH3VJ782 |
||||
|
c) |
Nature of the transaction |
Grant of Awards under the Network International Holdings Long Term Incentive Plan |
||||
|
d) |
Price(s) and volume(s) |
|
||||
|
e) |
Aggregated information - Aggregated volume - Aggregated price |
N/A - single transaction |
||||
|
f) |
Date of the transaction |
17 May 2019 (UK) |
||||
|
g) |
Place of the transaction |
London Stock Exchange, Main Market |
||||
|
1. |
Details of PDMR |
|||||
|
a) |
Name |
Rohit Malhotra |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position / status |
Chief Financial Officer |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3. |
Details of the issuer |
|||||
|
a) |
Name |
Network International Holdings Plc |
||||
|
b) |
Legal Entity Identifier |
213800VRNKWENNLKK60 |
||||
|
4. |
Details of the transaction(s) |
|||||
|
a) |
Description of the financial instrument |
Shares |
||||
|
b) |
Identification code |
GB00BH3VJ782 |
||||
|
c) |
Nature of the transaction |
Grant of Awards under the Network International Holdings Long Term Incentive Plan |
||||
|
d) |
Price(s) and volume(s) |
|
||||
|
e) |
Aggregated information - Aggregated volume - Aggregated price |
N/A - single transaction |
||||
|
f) |
Date of the transaction |
17 May 2019 (UK) |
||||
|
g) |
Place of the transaction |
London Stock Exchange, Main Market |
||||
|
1. |
Details of PDMR |
|||||
|
a) |
Name |
Samer Soliman |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position / status |
Managing Director |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3. |
Details of the issuer |
|||||
|
a) |
Name |
Network International Holdings Plc |
||||
|
b) |
Legal Entity Identifier |
213800VRNKWENNLKK60 |
||||
|
4. |
Details of the transaction(s) |
|||||
|
a) |
Description of the financial instrument |
Shares |
||||
|
b) |
Identification code |
GB00BH3VJ782 |
||||
|
c) |
Nature of the transaction |
Grant of Awards under the Network International Holdings Long Term Incentive Plan |
||||
|
d) |
Price(s) and volume(s) |
|
||||
|
e) |
Aggregated information - Aggregated volume - Aggregated price |
N/A - single transaction |
||||
|
f) |
Date of the transaction |
17 May 2019 (UK) |
||||
|
g) |
Place of the transaction |
London Stock Exchange, Main Market |
||||
|
1. |
Details of PDMR |
|||||
|
a) |
Name |
Andrew Key |
||||
|
2. |
Reason for the notification |
|||||
|
a) |
Position / status |
Managing Director |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3. |
Details of the issuer |
|||||
|
a) |
Name |
Network International Holdings Plc |
||||
|
b) |
Legal Entity Identifier |
213800VRNKWENNLKK60 |
||||
|
4. |
Details of the transaction(s) |
|||||
|
a) |
Description of the financial instrument |
Shares |
||||
|
b) |
Identification code |
GB00BH3VJ782 |
||||
|
c) |
Nature of the transaction |
Grant of Awards under the Network International Holdings Long Term Incentive Plan |
||||
|
d) |
Price(s) and volume(s) |
|
||||
|
e) |
Aggregated information - Aggregated volume - Aggregated price |
N/A - single transaction |
||||
|
f) |
Date of the transaction |
17 May 2019 (UK) |
||||
|
g) |
Place of the transaction |
London Stock Exchange, Main Market |
||||
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 12 hours ago ASOS
- 12 hours ago MJ Gleeson
- 12 hours ago Rolls-Royce Holdings
- 13 hours ago Crest Nicholson Holdings
- 13 hours ago Naked Wines