Air Partner PLC Grant of Options under LTIP (2956P)
June 04 2015 - 12:00PM
UK Regulatory
TIDMAIP
RNS Number : 2956P
Air Partner PLC
04 June 2015
4 June 2015
London, Gatwick
Air Partner plc
("Air Partner", the "Company", or the "Group")
Grant of Options under Long Term Share Incentive Plan 2012
("LTIP")
Air Partner announces that on 3 June 2015, the Remuneration
Committee of the Company, which is made up entirely of
non-executive directors, approved the grant of nil-cost options
("Nil-cost Options") over ordinary shares of 5p each in the Company
("Ordinary Shares") under the Air Partner 2012 Long Term Incentive
Plan ("APLTIP") ("the Grants") to the executive directors as
follows:
Director Position Number of Market Price Percentage
Ordinary Shares on day preceding of basic salary
over which date of grant
Nil-cost Options
have been
granted
------------- ----------------- ------------------ ------------------ -----------------
Chief Executive
Mark Briffa Officer 87,097 387.5p 150%
------------- ----------------- ------------------ ------------------ -----------------
Chief Financial
Neil Morris Officer 38,710 387.5p 100%
------------- ----------------- ------------------ ------------------ -----------------
The awards granted are subject to the achievement of performance
and employment conditions as specified by the Remuneration
Committee. Vesting of the grants is subject to a combination of 50%
Earnings per share ("EPS") and 50% total shareholder return ("TSR")
related targets:
EPS:
-- 100% vest if performance greater than RPI + 20% per annum
-- 25% vest if performance equal to RPI +15% per annum
TSR:
-- 100% vest if performance greater than 75th percentile
-- 25% if performance equal to 50(th) percentile
Between these target levels, share options will vest on a
straight line basis and shares will vest, subject to achievement of
these performance conditions, on 3 June 2018.
The adjusted underlying EPS for the base year ending 31 January
2015 has been calculated as 19.5p excluding the impact of one off
tax credits.
The number of shares subject to the award was determined by
using the closing price of an Air Partner plc share on the day
preceding the date of grant (2 June) as ascertained by the Official
List which was 387.5p per share.
Enquiries:
Air Partner plc +44 (0) 1293 844570
Justin Scarborough, Director of Corporate Development and IR
Sally Chandler
Company Secretary
Temple Bar Advisory +44 (0) 20 7002 1080
Tom Allison (M.07789 998020)
Alycia MacAskill
About Air Partner:
Air Partner has been trading for over 50 years and is a world
leading provider of aviation charter services to industry,
commerce, governments and individuals worldwide. The Group is
globally recognised as a leading charter broker and organises ad
hoc aircraft charters of every type for any reason. Its three main
divisions comprise Air Partner Private Jets, Air Partner Commercial
Jets and Air Partner Freight. The Commercial Jets division charters
large airliners to move groups of any size. Private Jets offers the
company's pre-paid JetCard scheme and on-demand charter. With its
headquarters alongside Gatwick airport in the UK, Air Partner
operates 24/7 year-round and has 20 offices globally. Air Partner
is also the only air charter broker in the UK certified ISO
9001:2008 compliant for commercial airline and private jet
solutions worldwide.www.airpartner.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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