LTIP Performance Conditions
C&C Group plc
('C&C')
2021 Long Term Incentive Plan ('LTIP') Awards - Performance Conditions
As announced on 15 June 2021, the Company's Executive Directors were granted awards under the LTIP, in the form of nil cost options over €0.01 ordinary shares in the Company.
The details of the performance metrics for the awards have now been finalised and are set out below.
Performance conditions
Measure
| Weighting | Further detail |
Earnings per share | 45% | Threshold - 22p Maximum - 27p
By the end of year 3 target range (end of FY24) rather than as a cumulative target.
|
Free cash flow conversion
| 35% | Threshold - 65%
Maximum - 75%
By the end of year 3 target range (end of FY24) rather than as a cumulative target.
|
Environmental Target | 20% | To give impetus to C&C's de-carbonisation efforts, the Company has set a target to reduce its Scope 1 emissions and Scope 2 emissions* over the three financial years ending with FY24 as follows:
Threshold - 6% reduction
Maximum - 12% reduction
*Definitions Scope 1: direct emissions from owned or controlled sources, which includes emissions from company-owned or operated facilities and vehicles. Scope 2: indirect emissions from the generation of purchased energy e.g. electricity, steam, heat and cooling.
|
In each case, threshold vesting will be 25% of the maximum.
Mark Chilton
Company Secretary and Group General Counsel
28 July 2021
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.