TIDMLGT
RNS Number : 9230G
Lighthouse Group PLC
02 June 2017
Press Release 2 June 2017
Lighthouse Group plc
("Lighthouse" or "the Group")
LTIP Awards
Lighthouse Group plc (AIM: LGT), the national financial advisory
group and preferred financial adviser to 19 affinity partners with
a combined membership of more than 6 million individuals, announces
further awards of new share options under the Group's Long Term
Incentive Plan ("LTIP"),as follows:
The new awards (the "Awards") total 5,163,972 new share options.
3,500,778 new share options were granted to the three Executive
Directors of Lighthouse and 1,663,194 new share options to other
senior executives of the Group. The allocation to the Executive
Directors was as follows:
Director Position Number of new
share options
awarded
Malcolm Streatfield Chief Executive Officer 1,761,869
Peter Smith Group Finance Director 1,364,872
Group Compliance and
Kenneth Paterson Risk Director 374,037
These Awards will vest after three years subject to continued
employment and the meeting of objective performance conditions,
outlined below. The Awards are exercisable at a price of 1 pence
per new Ordinary Share.
Half of the Awards are subject to an earnings per share ("EPS")
performance condition. The threshold vesting (20% of this part of
the Award) will be at 1.5p EPS in the year to 31 December 2019 and
full vesting will take place at 2.2p EPS for that year with
straight-line vesting in between these points. The EPS figure used
at both the start and end of the performance measurement period
will be an adjusted EPS figure, calculated after a normalised tax
charge.
The remaining half of the Awards are subject to a total
shareholder return (share price performance plus dividends added
back) performance condition. Threshold vesting (again for 20% of
this Award) will be at 23p for the measurement period ending three
years after the date of grant of the options, with full vesting at
31p and straight-line vesting in between these points.
The existing LTIP awards, being 3,250,000, 2,550,000 and 600,000
respectively for Messrs. Streatfield, Smith and Paterson, remain in
place as do all other extant awards granted under the approved and
unapproved share options schemes.
The maximum number of new ordinary shares that can be issued
under the LTIP and the Company's other employee share plans is
capped at 15% of the Company's issued share capital within a 10
year period.
The LTIP contains provisions in respect of vesting and exercise
of options for variations in the share capital of the Company and
for a change in control.
- Ends -
For further information, please contact:
Lighthouse Group plc
Richard Last - Chairman Tel: +44 (0) 20 7065
5640
www.lighthousegroup.plc.uk
finnCap Limited
Nominated Adviser and Broker Tel: + 44 (0)
to the Company) 20 7220 0500
Adrian Hargrave/ Emily Watts
Media enquiries:
IFC Advisory Limited
Heather Armstrong/Tim Metcalfe/ Graham Tel: +44 (0) 20 3053
Herring 8671
heather.armstrong@investor-focus.co.uk www.investor-focus.co.uk
About Lighthouse Group plc
Lighthouse has been listed on AIM since 2000 as an integrated
financial services company for investors, coupled with significant
scale in terms of distribution through financial advisers and
wealth managers and its fully diversified business model.
As one of the UK's largest autonomous financial advice and
wealth management groups, Lighthouse provides a comprehensive range
of services to businesses and individuals and is retained by most
of the major trades unions and other affinity groups to advise
their combined memberships of over 6 million members.
The Group aims to increase its relationships with, and the
benefits it derives from, its relationships with affinity groups
and professional partners.
In addition to a wide range of financial advice, the Group has
developed innovative products to meet the specific needs of its
retail and corporate customers. These comprise:
-- Luceo Asset Management, launched in September 2016 to provide
a range of investment solutions to retail investors. The initial
solution comprise five multi-manager, fund of fund, investment
portfolios matching to customers' agreed risk profiles, with
Octopus Investments Limited as the initial Investment Adviser.
These are available across a number of platforms, including the
Lighthouse Zurich Platform, in partnership with Zurich and;
-- The Lighthouse Pensions and Life Trusts, unbundled
multi-employer Master Trust products that provide cost-effective
and one-stop shop solutions for small- and medium- sized
enterprises ("SMEs"), to meet their obligations to establish
auto-enrolment compliant pension schemes for their employees by 31
March 2018. (up to 1 million SMEs have to do so) and provide
death-in-service life assurance cover for all of their employees
aged between 16 and 65, for the same cost per benefit, at very
competitive rates, regardless of age, gender, location or
pre-existing medical conditions. The Lighthouse Pensions Trust is
listed on the Pension Regulator's website as an approved Master
Trust for the provision of auto-enrolment pension scheme
services.
Lighthouse operates from its headquarters in London as well as
having principal operating offices in Stockport and Woodingdean,
near Brighton.
For more information please visit:
http://www.lighthousegroup.plc.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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