IndigoVision Group PLC Posting of Circular & Notice of General Meeting (0527D)
05 October 2018 - 4:00PM
UK Regulatory
TIDMIND
RNS Number : 0527D
IndigoVision Group PLC
05 October 2018
5 October 2018
IndigoVision Group plc
("IndigoVision", the "Company" or the "Group")
Posting of Circular and Notice of General Meeting
IndigoVision Group plc announces that a general meeting of the
Company (the "General Meeting") will be held at the offices of
Shepherd and Wedderburn LLP, 1 Exchange Crescent, Conference
Square, Edinburgh EH3 8UL at 10.00 a.m. (UK time) on Wednesday 24
October 2018 for the purpose of approving a new Long Term Incentive
Plan (the "New LTIP").
Under the New LTIP, selected individuals (being Pedro Simoes,
CEO; Chris Lea, CFO and Paul Theasby, COO) will be given the
opportunity to share in a proportion of a "pool" of Ordinary Shares
that is equal to 20% of the Company's entire issued share
capital.
The amount of this pool that is actually distributed amongst
participants in the Plan will be entirely dependent on the level of
earnings per share ("EPS") that the Company delivers in its 2021
financial year. In particular:
-- the whole of the pool will be available for distribution to
participants if the 2021 EPS figure is equal to or greater than
$1.00;
-- for EPS of $0.20 or less, no part of the pool will be
distributed (and all awards will immediately lapse); and
-- for performance between these two levels, the amount of the
pool available to participants will be calculated by reference to a
sliding scale (from 0% to 100%) that is more heavily weighted
towards superior performance levels.
The shares to which a participant in the New LTIP becomes
entitled following the assessment of the above performance
condition will be subject to further holding periods over the
financial years ending 31 December 2022, 2023 and 2024. If the EPS
in any of these subsequent years falls below the level delivered in
2021, a portion of the participant's award will immediately lapse
and cease to exist.
A circular incorporating the notice of the General Meeting (the
"Circular") has today been posted to shareholders. The Circular,
which sets out further background information on the New LTIP
(including details of the robust malus and clawback provisions that
will apply), is also available for download from the Company's
website (http://www.indigovision.com).
Enquiries to:
IndigoVision Group plc Pedro Simoes (CEO) +44 (0) 131 475 7200
Chris Lea (CFO)
N+1 Singer, Nominated Advisor Sandy Fraser +44 (0) 20 7496 3176
Charlotte Street Partners, Malcolm Robertson +44 (0) 7788 567680
Media Enquiries Martha Walsh +44 (0) 7876 245962
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.
END
NOGQZLFBVBFXFBE
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