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| Date | 5 Oct 2021 |
| Time | 18:21:45 |
| Category | Miscellaneous |
| ID | 1228O |
5 October 2021
McBride plc
("McBride" or the "Company")
Correction to Annual Report
McBride is correcting an error in the detail of the 2021 Annual Report and Accounts published on 24 September 2021.
The performance conditions in relation to Long-term Incentive Plan awards granted in 2020 and 2021 incorrectly state the threshold vesting for both EPS and ROCE. The tables below state the correct vesting levels under the performance conditions.
|
ROCE Grant 2020 and 2021 |
% of the half of the Award that vests by reference to ROCE(1) |
% of LTIP opportunity achieved |
|
<14.8% |
0 |
0 |
|
14.8% (threshold) |
10 |
5(2) |
|
17.2% (target) |
50 |
25 |
|
18.6% (maximum) |
100 |
50 |
(1) The awards vest on a straight-line basis between threshold and target and between target and maximum.
(2) Previously disclosed in the 2021 Annual report and Accounts correctly on page 101 as 5% and incorrectly on page 102 as 10%.
|
EPS Compound Annual Growth Rate (CAGR)(2) Grant 2020 and 2021 |
% of the half of the Award that vests by reference to EPS(1) |
% of LTIP opportunity achieved |
|
<7% p.a. |
0 |
0 |
|
7% p.a. (threshold) |
10 |
5(3) |
|
14.3% p.a. (target) |
50 |
25 |
|
21.1% p.a. (maximum) |
100 |
50 |
(1) The awards vest on a straight-line basis between threshold and target and between target and maximum.
(2) Adjusted to include effects of amortisation of intangible assets and exceptional items.
(3) Previously disclosed in the 2021 Annual report and Accounts correctly on page 101 as 5% and incorrectly on page 102 as 10%.
There is no impact on the Company's profit, balance sheet, earnings per share or other audited financial information in the 2021 Annual Report.
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McBride plc |
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Jeff Nodland, Chairman |
0161 203 7570 |
|
Chris Smith, CEO
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FTI Consulting |
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Ed Bridges, Nick Hasell |
020 3727 1017 |