AO World plc Grant of Options / PDMR Notification (7901L)
21 July 2017 - 11:20PM
UK Regulatory
TIDMAO.
RNS Number : 7901L
AO World plc
21 July 2017
AO World plc
Share Option Awards / PDMR Notification
On 21 July 2017 AO World plc ("the Company") granted nil-cost
options over a total of 3,699,449 ordinary shares* to Executive
Directors and members of its senior management population under the
terms of the AO Performance Share Plan which was approved by
shareholders of the Company on 25 February 2014 ("PSP") as part of
our normal remuneration policy.
The Company has received notification from nine of its "persons
discharging managerial responsibilities" pursuant to article 19 of
regulation (EU) No 596/2014 of the European Parliament and of the
Council of 16 April 2014 on market abuse ("Market Abuse Regulation"
or "MAR"), on 21 July 2017, who were granted conditional awards in
respect of the following number of ordinary shares of 0.25p, under
the plan in accordance with the rules.
Name Position Number Total share
of shares options
under options outstanding
granted ***
pursuant
to the
2017 PSP
Award***
------------------ ----------------- --------------- -------------
Chief Executive
Steve Caunce Officer 567,227 1,016,895
------------------ ----------------- --------------- -------------
Chief Financial
Mark Higgins Officer 857,143 1,637,743
------------------ ----------------- --------------- -------------
David Ashwell MD AO Logistics 168,067 1,419,912
------------------ ----------------- --------------- -------------
John Coulter MD AO Retail 168,067 1,072,179
------------------ ----------------- --------------- -------------
Daniel Emmett MD AO Services 168,067 1,057,828
------------------ ----------------- --------------- -------------
Group Brand
Andrew Kirkcaldy Director 142,857 1,351,551
------------------ ----------------- --------------- -------------
David Lawson MD AO Retail 168,067 1,052,068
------------------ ----------------- --------------- -------------
Kevin Monk MD AO Europe 168,067 1,376,761
------------------ ----------------- --------------- -------------
Group IT
Adam Warne Director 142,857 590,600
------------------ ----------------- --------------- -------------
* The amounts shown above represent the maximum possible number
of ordinary shares that may be granted to the above named
participants under the 2017 PSP Award.
**The price used to calculate the maximum number of ordinary
shares under the 2017 PSP Award was GBP1.19, being the closing
price of the Company's shares on the main market of the London
Stock Exchange on 20 July 2017, the last dealing day prior to the
grant of the 2017 PSP Awards.
***includes share options pursuant to the previous awards
granted under the PSP granted on 30 June 2015 and 21 July 2016 and,
in the case of the PDMRs other than the Executive Directors, awards
granted under the Employee Reward Plan on 21 July 2016, plus
options under the AO Sharesave scheme.
The 2017 PSP Awards are subject to three performance conditions
linked to Relative Total Shareholder Return, growth in the Group
Adjusted EBITDA and Sales growth and have equal weighting.
The performance conditions are measured over a 3 year period
ending on 31 March 2020 and are expected to vest in July 2020.
For the purposes of article 19 of MAR, the above transactions
took place in the United Kingdom, with a grant date of 21 July 2017
and the Directors being notified on 21 July 2017.
Enquiries:
AO World plc
Julie Finnemore
Company Secretary
Tel: +44(0)1204 672400
Tulchan Communications
Susanna Voyle
Michelle Clarke
Tel: +44(0) 20 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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