CCR C&c Group Plc

TIDMCCR

RNS Number : 0888U

C&C Group Plc

28 July 2022

C&C Group plc

('C&C')

2021 Long Term Incentive Plan ('LTIP') Awards

On 15 June 2021, LTIP awards were granted to the Company's Executive Directors. The performance conditions for those awards were announced on 28 July 2021, and reported in the Company's Directors' Remuneration Report for the period ended 28 February 2022.

Following a review of the targets for the EPS element of the performance conditions, the Remuneration Committee has noted that the EPS target for maximum vesting had not been adjusted for the impact of the rights issue undertaken by the Company in 2021. Accordingly, the EPS target for maximum vesting has been subsequently adjusted for the rights issue consistent with International accounting standards (IAS 33) as set out below. The Free Cash Flow and Environmental targets have not been adjusted. No other changes have been made to the awards.

 
 M easure     W eighting   T argets as originally    A djusted targets 
                            set 
 Earnings     45%          Threshold (25% vesting)   Threshold (25% vesting) 
  per share                 - 22 cents                - 22 cents 
 
                            Maximum - 27 cents        Maximum - 24.5 cents 
 
                            By the end of year 3      By the end of year 3 
                            target range (end of      target range (end of 
                            FY24) rather than as      FY24) rather than as 
                            a cumulative target.      a cumulative target. 
             -----------  ------------------------  ------------------------ 
 

Contacts

C&C Group plc

Patrick McMahon, Chief Financial Officer

Ewan Robertson, Finance and Investor Relations Director

Email: ewan.robertson@candcgroup.com

FTI Consulting

Jonathan Neilan / Paddy Berkery

Tel: +353 86 231 4135 / +353 86 602 5988

Email: CandCGroup@fticonsulting.com

Novella Communications

Tim Robertson

Tel: +44 203 151 7008

Email: TimR@novella-comms.com

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END

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July 28, 2022 06:00 ET (10:00 GMT)

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