Information  X 
Enter a valid email address

C&C Group Plc (CCR)

  Print          Annual reports

Wednesday 28 July, 2021

C&C Group Plc

LTIP Performance Conditions

RNS Number : 7705G
C&C Group Plc
28 July 2021
 

C&C Group plc

('C&C')

 

2021 Long Term Incentive Plan ('LTIP') Awards - Performance Conditions

 

As announced on 15 June 2021, the Company's Executive Directors were granted awards under the LTIP, in the form of nil cost options over €0.01 ordinary shares in the Company.

 

The details of the performance metrics for the awards have now been finalised and are set out below.

 

Performance conditions

 

Measure

 

Weighting

Further detail

Earnings per share

45%

Threshold - 22p

Maximum - 27p

 

By the end of year 3 target range (end of FY24) rather than as a cumulative target.

 

Free cash flow conversion

 

35%

Threshold - 65%

 

Maximum - 75%

 

By the end of year 3 target range (end of FY24) rather than as a cumulative target.

 

Environmental Target

20%

To give impetus to C&C's de-carbonisation efforts, the Company has set a target to reduce its Scope 1 emissions and Scope 2 emissions* over the three financial years ending with FY24 as follows:

 

Threshold - 6% reduction

 

Maximum - 12% reduction

 

* Definitions

Scope 1: direct emissions from owned or controlled sources, which includes emissions from company-owned or operated facilities and vehicles.

Scope 2: indirect emissions from the generation of purchased energy e.g. electricity, steam, heat and cooling.

 

 

In each case, threshold vesting will be 25% of the maximum.

 

 

Mark Chilton

Company Secretary and Group General Counsel

28 July 2021

 

 

 

 

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 [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCRPMMTMTTTBRB

a d v e r t i s e m e n t