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Network Intnl Hldgs (NETW)

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Tuesday 21 May, 2019

Network Intnl Hldgs

Grant of share awards under LTIP

RNS Number : 6153Z
Network International Holdings PLC
21 May 2019
 

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)

Price

Volume

£0.00

145,479 Ordinary Shares

 

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)

Price

Volume

£0.00

95,803 Ordinary Shares

 

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)

Price

Volume

£0.00

80,621 Ordinary Shares

 

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)

Price

Volume

£0.00

74,586 Ordinary Shares

 

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