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Charles Stanley Grp - Update on LTIP Performance Condition Ranges

RNS Number : 3280Z
Charles Stanley Group PLC
17 September 2020
 

CHARLES STANLEY GROUP PLC

 

("the Company")

 

Update on LTIP Performance Condition Ranges

 

As noted in the Company's Annual Report for the year ended 31 March 2020, the Remuneration Committee took a decision in May 2020, taking account of market conditions as a result of COVID-19, to defer any decision on the threshold and maximum ranges for the Earnings Per Share ("EPS") and Margin performance conditions which would apply to awards made under the Company's Long Term Incentive Plan in the year ending 31 March 2021.

 

The Company announces that the Remuneration Committee has now agreed to set the threshold and maximum ranges for the EPS and Margin performance conditions.

 

For the purpose of the EPS performance condition, which accounts for up to 50% of an award, the Remuneration Committee has set an EPS range for threshold and maximum vesting. The details are set out below:

 

EPS target for year-ended 31 March 2023

Portion of 50% of Award that vests

42p and above

100%

Between 30p and 42p

Pro-rata on straight-line basis between 20% and 100%

30p

20%

Below 30p

0%

 

For the purpose of the Margin performance condition, which accounts for up to 50% of an award, the Remuneration Committee has set a Margin range for threshold and maximum vesting. The details are set out below:

 

Margin for year-ended 31 March 2023

Portion of 50% of Award that vests

16% and above

100%

Between 10% and 16%

Pro-rata on straight-line basis between 20% and 100%

10%

20%

Below 10%

0%

 

Julie Ung

Company Secretary

 

Charles Stanley Group PLC LEI: 213800LBSEGKE5MCYC90

 

 

 For further information, please contact:

 

Charles Stanley

Siobhan Griffiths

via KTZ Communications

Canaccord Genuity

David Tyrrell

020 7523 4677

Peel Hunt

Andrew Buchanan

020 3597 8680

KTZ Communications

Katie Tzouliadis

020 3178 6384

Dan Mahoney

020 3178 6383

 

 

Notes to editors:

 

Charles Stanley traces its origins back directly to 1792 and is one of the oldest firms on the London Stock Exchange. Charles Stanley today provides holistic wealth management services to private clients, charities and smaller institutions. These are delivered by over 800 professionals located in 26 offices throughout the UK, both direct to clients and to intermediaries. Our services include investment portfolio management and financial planning, supported by in-house administration to enhance the quality of service provided.  In addition, Charles Stanley Direct provides an award winning direct to customer execution-only dealing platform for equities and funds.

 

 

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