24th May 2010 07:00
RNS Notification required by DTR 3.1.4R(1)
24 May 2010
Thomas Cook Group plc
1. Purchase of ordinary shares of €0.10 in Thomas Cook Group plc ("Shares" and the "Company", respectively) by Directors of the Company to be held as Lodged Shares under the terms of the Thomas Cook Group plc 2008 Co-Investment Plan ("COIP")
2. Award of options under the COIP
1. EES Trustees International Limited, the Trustee of the Thomas Cook Group plc 2007 Employee Benefit Trust (the "Trustee"), has notified the Company that, using funds received from the Directors detailed below, they have acquired the Shares set out against the Directors' names as nominee to be held as Lodged Shares under the terms of the COIP on 21 May 2010:
|
Director |
Number of Shares acquired at198.5p
|
Percentage of issued share class acquired |
Total holding of Shares following this acquisition |
Total percentage of Shares held following acquisition |
|
Manny Fontenla-Novoa |
100,077 |
0.012 |
932,728 |
0.11 |
|
Paul Hollingworth |
20,015 |
0.002 |
83,568 |
0.01 |
|
Sam Weihagen |
20,000 |
0.002 |
89,680 |
0.01 |
On the same date a further 210,075 Shares were purchased by the Trustee on behalf of other members of the Group Executive Board and held as Lodged Shares under the terms of the COIP.
3. On 21 May 2010 The Company granted nil-cost options to acquire the following number of Shares in the Company in order to provide the Matching Share element under the COIP to the following Directors of the Company:
|
Director |
Number of Shares over which options granted* |
Total number of Shares over which options are held under the COIP following this notification
|
|
Manny Fontenla-Novoa
|
350,269 |
2,977,805 |
|
Paul Hollingworth |
70,052 |
292,487 |
|
Sam Weihagen |
70,000 |
311,535 |
*Under the terms of the COIP, a conditional award of three and a half nil-cost options is made in respect of each Lodged Share held by the participant.
The award of nil-cost options will vest and become exercisable three years from the date of the award subject to a performance target being satisfied and will lapse if not exercised within ten years of the date of award. Half of the options will vest by reference to Earnings Per Share ("EPS") and half by reference to Total Shareholder Return ("TSR"). The EPS performance condition requires a compound annual growth rate in EPS of 6% to 14% over a three year period. Under the TSR performance condition, the Company's TSR performance over three years will be ranked against FTSE 50-150 companies (for 25% of the total award) and against a tailored peer group of international travel operators (for the remaining 25% of the total award). The outcome of the COIP will also be subject to the Return on Invested Capital ratchet mechanism, as in previous years.
Names and Contact Numbers:
Bronwen Griffiths-Barrasso: Media enquiriesTel +44 (0)1733 417268
Derek WoodwardGroup Company SecretaryTel +44 (0)20 7557 6415
Related Shares:
Thomas Cook