20 September 2023
Ten Lifestyle Group plc
("Ten" or the "Company")
Grant of Options
Ten Lifestyle Group plc (AIM: TENG), announces that it has granted options over Ordinary Shares to certain 'persons discharging managerial responsibilities' of the Company ("PDMRs"), pursuant to the Ten Lifestyle Group Plc Management Incentive Plan dated 9 November 2017 ("MIP Options") and Company Share Option Plan dated 24 August 2017 ("CSOP Options").
| PDMR | Position | Number of new MIP Options granted | Number of new CSOP Options granted | Resulting total options held over Ordinary Shares |
| Alex Cheatle | CEO | 200,000 | 15,306 | 1,579,680 |
| Andrew Long | Group COO | 100,000 | 15,306 | 1,059,350 |
| Alan Donald | CFO | 80,000 | 15,306 | 649,914 |
| Victoria Carvalho | Chief Proposition Officer | 32,000 | 15,306 | 341,950 |
The nil cost MIP Options will vest subject to the performance conditions of the MIP Options based on total shareholder return ("TSR") over a three year period ending on the announcement of the Company's financial results for the year ending 31 August 2025. The Remuneration Committee believes the performance metrics appropriately incentivise and are aligned with the Company's strategic goals and the long-term interests of shareholders.
The CSOP Options become exercisable after three years, subject to certain conditions, including appropriate bad leaver conditions. The Remuneration Committee believes that granting CSOP Options is aligned with the Company's strategic goals and the long-term interests of shareholders as any gain from the exercise of CSOP options is subject to the relative increase in the share price over the three-year period.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the granting of these options.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||||||||||||||
| a. | Name | 1. Alex Cheatle 2. Andrew Long 3. Alan Donald 4. Victoria Carvalho | |||||||||||||||||||||||||||
| 2. | Reason for the notification | ||||||||||||||||||||||||||||
| a. | Position/status | 1. CEO 2. Group COO 3. CFO 4. Chief Proposition Officer | |||||||||||||||||||||||||||
| b. | Initial notification /Amendment | Initial notification | |||||||||||||||||||||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||||||||
| a. | Name | Ten Lifestyle Group plc | |||||||||||||||||||||||||||
| b. | LEI | 213800YK94ZUOJUMN686 | |||||||||||||||||||||||||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||||||||||||||||||||
| a. | Description of the Financial instrument, type of instrument Identification code | Options over Ordinary Shares of 0.1 pence
GB00BF188X60 | |||||||||||||||||||||||||||
| b. | Nature of the transaction | Grant of options under the Management Incentive Plan and Company Share Option Plan
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| c. | Price(s) and volume(s) |
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| d. | Aggregated information · Aggregated volume · Price
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| e. | Date of the transaction | 19 September 2023 | |||||||||||||||||||||||||||
| f. | Place of the transaction | Outside a trading venue | |||||||||||||||||||||||||||
- End -
For further information please visit www.tenlifestylegroup.com or call:
| Ten Lifestyle Group plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer
| +44 (0)20 7850 2796
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Singer Capital Markets Advisory LLP, Nominated Advisor and Broker Corporate Finance: James Moat / Oliver Platts Corporate Broking: Tom Salvesen / Charles Leigh-Pemberton |
+44 (0) 20 7496 3000
|
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc ('Ten') partners with global financial institutions and other premium brands to attract and retain wealthy and mass affluent customers.
Millions of members have access to Ten's services across lifestyle, travel, dining, entertainment and retail benefits on behalf of over fifty clients including HSBC, Coutts, Morgan Stanley and Royal Bank of Canada. Ten's partnerships are based on multi-year contracts generating revenue through platform-as-a-service and technology fees.
Ten's operations are underpinned by an increasingly sophisticated personalisation platform comprising industry-first, proprietary technology, thousands of supplier relationships and 25 years of proprietary expertise delivered from over 20 global offices.
Ten is on a mission to become the most trusted service platform in the world.
For further information please go to: www.tenlifestylegroup.com.
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