On 3 July 2017, Kindred Group granted new performance share awards to senior managers and key employees. These grants would vest subject to the Group achieving business performance targets over the three financial years 2017 – 2019 and continued employment.
On 6 July 2020 the 2017 PSP grant vested on a partial basis as the agreed targets for the business performance conditions set for the period covering the three financial years 2017 – 2019 were not fully met.
The results for the 2017 PSP are summarised below:
|Performance Conditions||Achievement vs Target Over 2017-19||PSP Result|
|Free cash flow per share||101.7%||100.0% (capped)|
Of the 423,197 share awards initially granted under the scheme on 3 July 2017, the total number of share awards which vested on 6 July 2020 was 255,163 (60.3 percent of initial grant), using 255,163 SDRs from the Kindred Group’s share buy-back programme.
Following the vesting of these awards, 2,971,358 SDRs from the share buy-back programmes continue to be held by Kindred Group. The total amount of issued shares in Kindred Group plc is 230,126,200 ordinary shares with a par value of GBP 0.000625.
This information will also be available in the Remuneration Committee report in Kindred’s 2020 Annual Report when published in Q1 2021.
For more information:
Nick Lawry, Head of Reward, email@example.com
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, Australia and USA, offering over 25 million customers across 12 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 1,600 people, is listed on Nasdaq Stockholm Large Cap and is a founding member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.
Nasdaq Stockholm, KIND-SDB