Chime Communications PLC ('the Company'), the leading marketing services group, announces the initial grant of conditional awards under the Chime Communications PLC Co-Investment Plan 2010 ('the Plan') as approved by shareholders at the Annual General Meeting of the Company on 12 May 2010. The Plan has been designed by the Remuneration Committee to drive management behaviour and to increase alignment with shareholders’ interests.
The initial grant of conditional awards has been made to each of the Executive Directors alongside a number of other senior executives of the Company. Participation in the Plan is contingent on each Director and senior executive committing to maintain a minimum investment in the Company's shares ('Deposited Shares') until the end of the performance period. The Executive Directors commit to retaining the following number of Deposited Shares, equivalent to 25% of the conditional award made under the Plan:
|
|
No. of conditional awarded Shares: | No. of Deposited Shares: |
|---|---|---|
| Executive Chairman, Lord Bell | 264,550 | 66,138 |
| Deputy Chairman, Piers Pottinger | 52,910 | 13,228 |
| Chief Executive, Chris Satterthwaite | 238,095 | 59,524 |
| Finance Director, Mark Smith | 132,275 | 33,069 |
Each conditional award is subject to the achievement of the stretching performance conditions over a three year period as outlined in the Circular sent to shareholders with the Notice of Meeting for the Annual General Meeting on 6th April 2010. Further details may be obtained from the Notice of Meeting in the Investor Relations section of the Company’s website www.chime.plc.uk/investor-relations/annual-reports.
For the duration of the Plan, participants will not be eligible to receive awards under any of the Company's other long term incentive plans.
For further details contact:
Lord Bell
Chairman, 020 7861 8515
James Henderson
Pelham Bell Pottinger, 020 7861 3232
