Bonus payments were triggered in 2010 as a result of strong financial performance delivered against the financial performance targets relating to the bonus plan, all of which were met in full. As a result, bonus payments at 75% of bonus potential maximum were earned and under the rules of the plan, payments were to be made in three tranches, this being the second. This is being released as the performance conditions in the bonus plan related to 2011 performance have been met.
Bonus payments were triggered in 2011 in respect of the individual performance targets only. As a result, bonus payments at 12.5% of bonus potential maximum (15% of base salary) have been earned.
Accordingly, on 2 April 2012 the undernoted became the legal and beneficial owners of the following ordinary shares of 50p each in the Company: the 2010 Deferred Bonus Award shares at a price of 124p per share and the 2011 Bonus Award shares at a price of 83.5p per share.
The Sale Shares were sold at a price of 117p per ordinary share of 50p each, being the mid-market price at the time of the disposal. The Sale Shares were disposed of by Directors to cover tax, national insurance and associated costs of the Bonus Awards.
|2010 Deferred Bonus Award||2011 Bonus Award||Total Shares issued||Shares Sold||Shares retained|
|Total holding of Ordinary Shares||% |
Jane E A Tames
STV Group plc
0141 300 3074