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    GEN   GB00BKRC5K31

GENUIT GROUP PLC

(GEN)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/25 11:35:19 am
557 GBX   -0.54%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Glen Sabin resignation – Section 430(2B) Companies Act 2006 Statement

11/04/2021 | 04:22am EST

SECTION 430(2B) COMPANIES ACT 2006 STATEMENT

The following information is provided in accordance with section 430(2B) of the Companies Act 2006.

Glen Sabin has stepped down from the Board of Genuit Group plc (the "Company") with effect from 1 November 2021. He has not and will not receive any loss of office payments and will remain an employee of the Company until 31 December 2021.

ANNUAL BONUS

In accordance with the terms of his service agreement, he is entitled to receive an annual bonus in respect of 2021, which is subject to the achievement of the performance conditions set out in the 2020 Annual Report and Accounts. Any bonus payable will be paid on the normal payment date in 2022. This will be subject to malus and clawback provisions and will be paid after the announcement of the Company's 2021 audited results.

SHARE INCENTIVES

Glen Sabin's outstanding share incentive benefits will be treated in accordance with the rules of the applicable plans and will remain subject to the terms contained therein.

Long Term Incentive Plan (LTIP) - Glen Sabin was granted options over 67,507 ordinary shares on 30 April 2019, 66,622 ordinary shares on 22 June 2020 and 66,958 ordinary shares on 20 May 2021. He will be treated as a good leaver in respect of these awards as a result of his retirement and these options will therefore be exercisable in accordance with the rules of the LTIP on the normal vesting date, subject to the achievement of the relevant performance criteria and will be time pro-rated for his service during the performance period.

Deferred Share Bonus Plan (DSBP) - Glen Sabin was granted options on 30 April 2019 and 22 June 2020, each award representing the 25% retained value of his 2019 and 2020 annual bonus awards. Options are outstanding over 4,026 ordinary shares granted on 30 April 2019 and 4,420 ordinary shares granted on 22 June 2020. He will be treated as a good leaver in respect of these awards which will vest on respectively on 30 April 2022, 22 June 2022 and 22 June 2023. In accordance with the DSBP rules, he will also receive the value of dividends paid in respect of the vested shares between grant and vesting. The DSBP awards are exercisable for a period of six months from the date of retirement.

Sharesave Scheme - Glen Sabin has no outstanding options under the all-employee Sharesave Scheme.

The Company's Remuneration Report for the year ending 31 December 2021 will include details of remuneration earned by Glen Sabin as an Executive Director during the relevant period.

Emma Versluys

Company Secretary

Genuit Group plc

Disclaimer

Genuit Group plc published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 09:21:08 UTC.


ę Publicnow 2021
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Financials
Sales 2020 399 M 539 M 539 M
Net income 2020 23,3 M 31,5 M 31,5 M
Net Debt 2020 33,3 M 44,9 M 44,9 M
P/E ratio 2020 52,0x
Yield 2020 0,76%
Capitalization 1 376 M 1 856 M 1 858 M
EV / Sales 2020 3,53x
EV / Sales 2021 2,63x
Nbr of Employees 3 139
Free-Float 99,2%
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Technical analysis trends GENUIT GROUP PLC
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 7
Last Close Price 5,57 GBX
Average target price 715,17 GBX
Spread / Average Target 12 740%
EPS Revisions
Managers and Directors
Martin Keith Payne Chief Executive Officer & Executive Director
Paul Anthony James Chief Financial Officer & Executive Director
Ronald John Edward Marsh Independent Non-Executive Chairman
Matt Pullen Chief Operating Officer & Director
Mark William Hammond Independent Non-Executive Director
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