Kainos Group plc 2016 LTIP Awards (8717C)
June 30 2016 - 10:25AM
UK Regulatory
TIDMKNOS
RNS Number : 8717C
Kainos Group plc
30 June 2016
30 June 2016
Kainos Group plc
("Kainos" or the "Company)
2016 LTIP Awards
The Company announces that on 23 June 2016 share awards (the
"Awards") approved by the Board of Directors of the Company under
the Kainos Group Performance Share Plan (the "PSP"), in the form of
nominal value options over ordinary shares of 0.5 pence each in the
Company ("Ordinary Shares") were awarded to Executive Directors and
PDMRs of the Company.
Awards have been granted to the three Executive Directors and
two PDMRs, over a total of 250,962 ordinary shares.
Name Title Number of Shares
---------------- ----------------------- -----------------
Brendan Mooney CEO 56,410
---------------- ----------------------- -----------------
Richard McCann CFO/COO 62,500
---------------- ----------------------- -----------------
Paul Gannon Sales Director 50,000
---------------- ----------------------- -----------------
Corporate Development
Brian Gannon Director 32,052
---------------- ----------------------- -----------------
Grainne Burns Company Secretary 50,000
---------------- ----------------------- -----------------
Performance Conditions and Vesting of Awards
Awards will be subject to the rules of the PSP and the following
conditions:
(i) Fifty per cent (50%) of the Award will be subject to
earnings per share ("EPS") percentage growth target, over a
three-year period up to the financial year ending 31 March
2019.
EPS Growth % of Award vesting
<9% Nil
9% 30%
>9% but <16% calculated on a straight line basis from 30%
exercise at 9% EPS growth to 100% exercise at 16% EPS growth
>=16% 100%
(ii) Fifty per cent (50%) of the Award will be subject to total
shareholder return ("TSR") performance condition, over a three-year
period from date of grant.
TSR Growth % of Award vesting
<9% Nil
9% 30%
>9% but <16% calculated on a straight line basis from 30%
exercise at 9% TSR growth to 100% exercise at 16% TSR growth
>=16% 100%
The number of shares subject to the Award was determined by
using the average mid-market price for the 3 trading days before
the date of the Award, this was 156.2p.
Timetable
Awards are expected to vest in June 2019, following the
announcement of the Company's results for the year ended 31 March
2019 and completion of the TSR Growth measurement period.
Ends
For further information, please contact
Kainos via FTI Consulting LLP
Brendan Mooney, Chief Executive
Officer
Brian Gannon, SVP Corporate Development
Investec Bank plc +44 (0) 20 7597 5970
Dominic Emery / Sebastian Lawrence
Patrick Robb / Matt Lewis
FTI Consulting LLP +44 (0) 20 3727 1000
Matt Dixon / Chris Lane
Notes to Editors
Kainos Group plc is a high-growth UK-based provider of IT
services, consulting and software solutions, specialising across
multiple sectors in the development of digital technology
solutions. These include software design and agile software
development, third-party software integration and implementation
services, technology support services and related ancillary
services such as project management.
Kainos operates through three divisions: Digital Services, which
delivers full system developments of customised online digital
solutions; Evolve, the UK market leader in the digitisation of
patient notes in the Acute sector of the NHS; and Workday
Implementation Services, the only boutique partner for Workday,
Inc. headquartered in the UK, responsible for implementing
Workday's innovative Software-as-a-Service platform for enterprise
customers.
Headquartered in Belfast, Northern Ireland, Kainos employs
approximately 750 staff across seven offices (Belfast, Derry,
Dublin, London, Bristol, Gdansk and Boston). Kainos is listed on
the Main Market of the London Stock Exchange (KNOS). For further
information please visit the company website:
https://www.kainos.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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