Ten Entertainment : Performance Share Plan Awards

20 May 2019

Ten Entertainment Group plc

Performance Share Plan Awards

Ten Entertainment Group plc (the 'Company') announces that on Friday 17 May 2019 its Executive Directors were granted the following share awards as nominal-cost options over ordinary shares of £0.01 each in the Company ('Shares') under the Company's Performance Share Plan ('PSP'). The awards have been granted in accordance with the remuneration policy approved by shareholders and set out in the Company's Annual Report which was published on 11 April 2019.

Director	Position	Number of Share Awards Granted
Duncan Garrood	Chief Executive Officer	200,000
Antony Smith	Chief Financial Officer	133,333
Graham Blackwell	Chief Commercial Officer	123,333

These awards (the 'PSP Awards') are subject to two performance conditions which will be measured following the announcement of results for the year to 2 January 2022 ('FY2021').

The first performance condition applying to the PSP Awards will be based on Earnings per Share of the Company ('EPS') and will apply to 50 per cent. of the total number of Share Awards granted.

EPS - Financial Year 2021	Percentage of the total number of Share Awards granted that will vest
Less than 25.65 pence	0%
25.65 pence	12.5%
Between 25.65 and 27.30 pence	Pro-rata on straight-line basis between 12.5% and 50%
More than 27.30 pence	50%

The EPS measure is based on adjusted fully diluted EPS as stated in the Company's accounts and is subject to such adjustments as the Remuneration Committee in its discretion determines are fair and reasonable.

The second performance condition will be based on Total Shareholder Return ('TSR') of the Company over the period from the date of grant to the announcement of results for FY2021 relative to a comparator group of companies and will apply to the remaining 50 per cent. of Share Awards granted.

It is intended that 12.5 per cent. of the total number of Share Awards will vest on achievement of median TSR performance and that 50 per cent. of such will vest on achievement of upper quartile performance. There will be straight line vesting between these points.

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the PSP

Enquiries:

Ten Entertainment Group plc Duncan Garrood, Chief Executive Officer Antony Smith, Chief Financial Officer	via Instinctif Partners
Instinctif Partners Matthew Smallwood Tom Berger	Tel: [phone]

1 - Details of the person discharging managerial responsibilities / person closely associated
Name	Duncan Garrood
2 - Reason for the notification
Position	Chief Executive Officer
Reason for the notification	Initial Notification
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Ten Entertainment Group PLC
Legal Entity Identifier code	213800SL9HJUQ5BGPX17
4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of financial instrument, type of instrument	Ordinary Shares of 1p each
Identification code	ISIN: GB00BF020D33
Nature of the transaction	Grant of PSP Performance Share Award. The Award is structured as a nominal cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
Price(s) and volume(s)	Price(s) Volume(s) nil 200,000
Aggregated information and volume price	Total volume of shares: 200,000 Total price GBP £nil
Date of transaction	17 May 2019 UK BST
Place of transaction	Outside a trading venue
1 - Details of the person discharging managerial responsibilities / person closely associated
Name	Antony Smith
2 - Reason for the notification
Position	Chief Financial Officer
Reason for the notification	Initial Notification
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Ten Entertainment Group PLC
Legal Entity Identifier code	213800SL9HJUQ5BGPX17
4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of financial instrument, type of instrument	Ordinary Shares of 1p each
Identification code	ISIN: GB00BF020D33
Nature of the transaction	Grant of PSP Performance Share Award. The Award is structured as a nominal cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
Price(s) and volume(s)	Price(s) Volume(s) nil 133,333
Aggregated information and volume price	Total volume of shares: 133,333 Total price GBP £nil
Date of transaction	17 May 2019 UK BST
Place of transaction	Outside a trading venue

1 - Details of the person discharging managerial responsibilities / person closely associated
Name	Graham Blackwell
2 - Reason for the notification
Position	Chief Commercial Officer
Reason for the notification	Initial Notification
3 - Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Full name of the entity	Ten Entertainment Group PLC
Legal Entity Identifier code	213800SL9HJUQ5BGPX17
4 - Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
Description of financial instrument, type of instrument	Ordinary Shares of 1p each
Identification code	ISIN: GB00BF020D33
Nature of the transaction	Grant of PSP Performance Share Award. The Award is structured as a nominal cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
Price(s) and volume(s)	Price(s) Volume(s) nil 123,333
Aggregated information and volume price	Total volume of shares: 123,333 Total price GBP £nil
Date of transaction	17 May 2019 UK BST
Place of transaction	Outside a trading venue