Long Term Incentive Plan (’LTIP’)Nord Anglia Education PLC Nord Anglia Education ('the Company') is a leading provider of education, training and childcare, with three operating divisions: International Schools, Learning Services and Nurseries. At today's Annual General Meeting, Alan Kelsey, Chairman, will make the following comments: Following discussion with shareholders and the adoption at the Company's AGM on 25 January 2007 of the LTIP, the Company announces the targets that were subsequently approved by its Remuneration Committee. The strike price of shares awarded will be 190p. 75% of the awards will be based upon Total Shareholder Return ('TSR') and 25% will be based upon earnings per share ('EPS'). For each measure there is a threshold and a maximum performance level. The following illustrate the targets and vesting conditions for 2006/07 awards: Threshold Maximum Performance target % of award vesting Performance target % of award vesting TSR Goal 63p 18.75% 227p 75% (i.e. 10% p.a. (i.e. 30% p.a. growth on 190p) growth on 190p) EPS Goal in 2008/09 20p 6.25% 40p 25% The starting figure for the TSR calculation will be the 190p, which was the approximate average share price at the time of consultation with institutions and key shareholders in October 2006 and when the Remuneration Committee reviewed their feedback. The EPS targets for 2008/09 correspond to 3-year compound growth of 21.8% per annum at threshold and 53.5% per annum to achieve the maximum payout. This growth is based upon the 2005/06 diluted attributable EPS (excluding the adjustment for the utilisation of Leapfrog trading tax losses, which will be excluded from future calculations) of 11.07p. 5 February 2006 Enquiries: Nord Anglia Education plc 01283 496583 Stephen Hyde, Finance Director College Hill 020 7457 2020 Gareth David Anthony Parker This information is provided by RNS The company news service from the London Stock Exchange |
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