Gamma Communications PLC has announced the granting of nil cost share options over ordinary shares of 0.25 pence each in the company to its Executive Directors and Persons Discharging Managerial Responsibilities (PDMRs). The options are part of the Gamma Long Term Incentive Plan and are subject to performance conditions to be met during the three-year performance period commencing on 1 January 2024 and ending on 31 December 2026, with vesting on 12 April 2027.
For Executive Directors, 50% of the awards are subject to the Company's total shareholder return (TSR) performance relative to the constituents of the FTSE 250 Index, while the remaining 50% is based on the growth in the Company's adjusted earnings per share (EPS) performance over a three-year period. The options for PDMRs are subject to a mix of performance conditions and non-performance conditions.
The options for the Executive Directors are also subject to a further two-year holding period post-vesting before they may be exercised. Additionally, the Company granted 20,672 nil cost share options over ordinary shares to Colin Lees, the Chief Technology Officer, subject to certain performance conditions and set to vest on 22 May 2026.
The Company's Chief Executive Officer, Andrew Belshaw, Chief Financial Officer, Bill Castell, and Company Secretary, Rachael Matzopoulos, are the primary contacts for any enquiries related to this announcement. Investec Bank plc and Teneo are also listed as the Company's NOMAD & Broker and PR Adviser, respectively.
The announcement also includes detailed information on the transactions by persons discharging managerial responsibilities and persons closely associated with them, including the nature of the transactions, the financial instruments involved, and the dates and places of the transactions.
This comprehensive announcement provides insight into the Company's long-term incentive plan, the specific conditions for the granted options, and the individuals involved in the transactions, offering a transparent view of the company's shareholding activities and its commitment to rewarding performance and retaining key talent.