VALLETTA, Malta, Oct. 1, 2019 /PRNewswire/ -- On 30 September 2016, 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 2016 – 2018 and continued employment.
On 1 October 2019 the full value of the 2016 PSP grant vested. The assessment of the actual business performance against the target conditions confirmed that all targets over the three financial years 2016 – 2018 have been achieved at greater than 100 per cent. The total number of share awards vested was 306,599, using 306,599 SDRs from the Kindred Group's share buy-back programme.
Performance targets Target achieved
Gross contribution 102%
Free cash flow per share 103%
Following the vesting of these awards, 3,226,521 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.
For more information:
Inga Lundberg, Investor Relations, +44 788 799 6116
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SOURCE Kindred Group