Coca-Cola HBC AG 2021 Performance Share Plan (1926M)
September 17 2021 - 8:23AM
UK Regulatory
TIDMCCH
RNS Number : 1926M
Coca-Cola HBC AG
17 September 2021
Coca-Cola HBC AG
2021 Performance Share Plan ('PSP') Awards - Performance
Conditions
Zug, Switzerland - 17 September 2021 - As disclosed in the
Integrated Annual Report of the Company for the year ended 31
December 2020 (the "2020 IAR") and as announced on 18 March 2021,
on 16 March 2021 the Chief Executive Officer and certain other
PDMRs of the Company were granted nil-cost performance shares of
CHF 6.70 each (the "Shares") in the Company through their
participation in the Stock Option and Performance Share Award Plan
("PSP"). These awards will vest after three years, subject to the
achievement of performance conditions.
However, due to uncertainty caused by the impact of the COVID-19
pandemic, and as noted in the 2020 IAR, the calibration of targets
had not been finalised as at the date of grant. It was agreed
therefore, in accordance with Investment Association guidance, that
whilst the 2021 PSP awards would be granted on the usual timeframe
in March 2021, the performance conditions applicable to those
awards would be confirmed within six months of grant.
As determined by the Remuneration Committee, the performance
conditions have now been finalised and are set out below:
Performance Conditions
Measure Weighting Further detail
Earnings per 42.5% Threshold (25% vesting): 1.63
Share (EPS) Maximum (100% vesting): 1.89
Straight line payout curve modelled
from Threshold to Maximum is determined
at the end of the three-year plan period
---------- -------------------------------------------
Return on Invested 42.5% Threshold (25% vesting): 13.0%
Capital (ROIC) Maximum (100% vesting): 14.9%
Straight line payout curve modelled
from Threshold to Maximum is determined
at the end of the three-year plan period
---------- -------------------------------------------
Sustainability 15% Threshold (25% vesting): 3.973
Metric ('000 Maximum (100% vesting): 3.758
tons of CO(2) Straight line payout curve modelled
emissions equivalent) from Threshold to Maximum is determined
at the end of the three-year plan period
---------- -------------------------------------------
Full disclosure in respect of the 2021 PSP awards and applicable
performance conditions will be included in the 2021 Directors'
Remuneration Report.
For further information please contact:
Jan Gustavsson
General Counsel and Company Secretary
+41 (0) 41 726 01 10
About Coca-Cola HBC
Coca-Cola HBC is a growth-focused consumer packaged goods
business and strategic bottling partner of The Coca-Cola Company.
We create value for all our stakeholders by supporting the
socio-economic development of the communities in which we operate
and we believe building a more positive environmental impact is
integral to our future growth. Together, we and our customers serve
more than 600 million consumers across a broad geographic footprint
of 28 countries on three continents. Our portfolio is one of the
strongest, broadest and most flexible in the beverage industry,
offering consumer-leading beverage brands in the sparkling, juice,
water, sport, energy, plant-based, ready-to-drink tea, coffee,
adult sparkling and premium spirits categories. These beverages
include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa,
Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our more than 26,000 employees and we are
ranked among the top sustainability performers in ESG benchmarks
such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and
FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For
more information, please visit https://www.coca-colahellenic.com
.
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