AWF 0.00% 0.0¢ awf madison group limited

Ann: GENERAL: AWF: Chief Executive Long term incentive scheme.

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    • Release Date: 27/08/15 08:30
    • Summary: GENERAL: AWF: Chief Executive Long term incentive scheme.
    • Price Sensitive: No
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    					AWF
    27/08/2015 08:30
    GENERAL
    NOT PRICE SENSITIVE
    REL: 0830 HRS AWF Madison Group Limited
    
    GENERAL: AWF: Chief Executive Long term incentive scheme.
    
    26 August 2015
    
    NZX Release
    
    Chief Executive Long term incentive scheme.
    
    AWF Madison announced today that it has reached agreement with CEO Simon
    Bennett for a long term incentive scheme over a 5 year period to grow the
    company for the benefit of shareholders.
    
    The scheme is a share settled stock appreciation rights ("SARS") scheme.
    Subject to performance, SARS will vest and be exercisable on July 1 2020.
    
    In order to earn the SARS the CEO must still be employed by the business on
    July1 2020 and have achieved strong shareholder return over the period, well
    beyond the cost of capital.
    
    This is measured by total shareholder return 'TSR'. The TSR measures the
    total return received by shareholders from changes in "market value" and the
    amount of cash dividends paid. This is calculated annually and cumulatively
    over the 5 year period.
    
    A reference price has been established at $2.28 per share, which is the 2
    month volume average weighted share price (VWAP).
    
    Chairman Ross Keenan says "He is delighted that AWF Madison now has in place
    a scheme which incentivises the Chief Executive to drive strong shareholder
    returns over a 5 year period."
    
    Any queries should be directed to Ross Keenan 021 685 655
    End CA:00269129 For:AWF    Type:GENERAL    Time:2015-08-27 08:30:18
    				
 
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