Chesnara PLC has announced the granting of awards in ordinary shares to Tom Howard, the newly appointed Group Chief Financial Officer. These awards are part of his remuneration package and are intended to compensate him for remuneration arrangements forfeited upon leaving his former employer, Aviva Investors. The awards were made in accordance with the Company's Directors' Remuneration Policy, approved by shareholders on 16th May 2023, and are subject to the Executive Directors' Minimum Shareholding Policy.
Under the Chesnara Buy-out Plan, Tom Howard was granted three sets of options, each subject to a performance target over a period of one, two, and three years, respectively. The options will become exercisable on specific dates if the performance targets are achieved and will remain exercisable up to and including 15th May 2034 if not exercised before that date. The total aggregated volume of the granted ordinary shares is 363,095, with a price of Nil.
Chesnara PLC, a European life and pensions consolidator listed on the London Stock Exchange, administers approximately one million policies and operates in the UK, the Netherlands, and Sweden. The company's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. Additionally, it adds value by writing profitable new business in Sweden, the Netherlands, and the UK, and by undertaking value-adding acquisitions of either companies or portfolios. Chesnara has increased its dividend for 19 years in succession, reflecting consistent delivery of the company's strategy.