Greenko Group plc Long Term Incentive Plan Awards (1249S)
September 19 2014 - 9:00AM
UK Regulatory
TIDMGKO
RNS Number : 1249S
Greenko Group plc
19 September 2014
19 September 2014
Greenko Group plc
("Greenko" or "the Company")
Long Term Incentive Plan ("LTIP") Awards
Greenko Group plc, the Indian developer, owner and operator of
clean energy projects, today announced the grant of awards under
its LTIP over 5,100,000 new ordinary shares of EUR0.005 each in
Greenko to ACMK Enterprise Limited ("ACMK"), a company wholly owned
by Greenko's founders and executive directors, Anil Chalamalasetty
and Mahesh Kolli, which in recognition of the operating capacity
achieved by the Company since March 2011 have vested and are
exercisable immediately at nominal cost (EUR0.005 per share).
Following their issue, the new ordinary shares will represent 3.3%
of the enlarged issued share capital of the Company and ACMK will
have an interest in 26,743,146 ordinary shares in the Company,
representing 17.2% of the enlarged share capital. On admission of
the new ordinary shares, the Company will have 155,761,606 ordinary
shares with voting rights in issue. ACMK will be required to hold
the new ordinary shares for a further three years after issue.
The Company has also granted a further performance related award
to ACMK over 3,100,000 new ordinary shares exercisable at nominal
cost (EUR0.005 per share) which may vest and become exercisable
over the period 2016 to 2018. Subject to achieving KPI targets, 1/3
of the award will vest each year over the three year period to 31st
March 2018 with the first potential vesting for 1/3 of the award
being in July 2016 following the announcement of the Company's
audited results. The number of shares subject to the award which
may each year vest is weighted as to 60% for achieving installed
capacity MW, 20% for revenue and 20% for profits before tax.
Subject to any other restrictions ordinary shares acquired
following the exercise of the award may be sold after one year. The
award, if it vests in full, would represent 2% of the enlarged
issued share capital of the Company.
Other than the above, ACMK holds no other option awards over any
other new ordinary shares in the Company.
-Ends-
For further information please visit www.greenkogroup.com or
call:
Greenko Group plc
Mr Keith Henry, Chairman
Ms Vinodka Murria, Chair of the Remuneration
Committee +44 (0)20 7614 5917
Arden Partners plc
Richard Day/Steve Douglas +44 (0)20 7614 5917
Investec Bank plc
Jeremy Ellis / Gary Clarence +44 (0)20 7597 4000
Tavistock Communications
Matt Ridsdale / Mike Bartlett/ Niall Walsh +44 (0)20 7920 3150
About Greenko
Greenko is a mainstream participant in the growing Indian energy
industry and a market leading owner and operator of clean energy
projects in India utilising a de-risked portfolio of wind,
run-of-river hydropower, natural gas and biomass assets. The Group
is now focused on building new utility scale wind farms and
hydropower projects across India. Greenko intends to increase the
installed capacity it operates by winning concessions to develop
and build new greenfield assets, as well as making selective
acquisitions which enhance shareholder value.
Greenko's portfolio is carefully planned and managed to ensure
it offers investors diversification and spreads its risk across a
number of projects that utilise various well-proven environmental
technologies. The Company's goal is to reach 1,000 MW of
operational capacity in 2015 and approximately 2,000 MW in
2018.
With a core belief in sustainability both operationally and
environmentally, Greenko endeavours to be a responsible business
playing an important role in the community beyond its role in the
power generation industry. The Company maintains a continuous
involvement in localised projects and community programmes which
centre on education, health and wellbeing, environmental
stewardship and improving rural infrastructure.
Greenko Group plc was admitted to trading on the AIM market of
the London Stock Exchange (LSE: GKO) in November 2007.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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