Paypoint plc Paypoint Plc : Directorate Change
31 March 2017 - 7:00PM
UK Regulatory
TIDMPAY
31 March 2017
PayPoint plc (the Company)
DIRECTORATE CHANGE
Following the announcement on 10 February 2017, George Earle has today
stepped down as a director of PayPoint plc. He will remain an employee
for a number of months during 2017/18 to provide assistance with the
completion of a number of outstanding projects, including the year-end
reporting process.
No termination payments will be made. George will continue to receive
fixed pay on a monthly basis during his limited period of employment
although he will not be eligible for an annual bonus in respect of
2017/18 or future LTIP awards. To the extent that performance targets
are met, he will be eligible to receive his annual bonus for the year
ending 31 March 2017, payable at the normal payment date in cash,
although any amount that would have been deferred into shares will
remain subject to clawback.
Unvested deferred annual bonus, DSB matching and LTIP awards will
continue to vest at the normal vesting date subject to time pro-rating
and, in respect of the DSB matching and LTIP awards, the extent to which
the performance targets are met. The time pro-rating calculation will be
based on the period of the respective vesting periods the individual has
served as an Executive Director (i.e. until 31 March 2017, so no time
pro-rating credit will be given for the subsequent employment period).
The relevant remuneration details relating to George Earle will be
included in the Directors' Remuneration Report in the Annual Report and
Accounts for the year ended 31 March 2017.
In accordance with section 430(2B) of the Companies Act 2006, the
information contained in this document will be made available on the
Company's website until the Company's next Directors' Remuneration
Report is made available.
-Ends-
Enquiries:
RLM Finsbury:
020 7251 3801
Rollo Head
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: PayPoint plc via Globenewswire
http://www.paypoint.co.uk/default.htm
(END) Dow Jones Newswires
March 31, 2017 04:00 ET (08:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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