22 October 2020
Redde Northgate plc
Correction to Annual Report
Following the recent release of the Company’s Annual Report & Accounts for the year ended 30 April 2020 (“Report”), an error has been identified in the table on page 76 of the Report where the threshold vesting target for the PBT target in respect of the ESPS award to directors made in August 2020 is incorrectly stated as £93.58m whereas the correct figure should be £97.75m.
The corrected table reads:
|Performance condition||Threshold target (25% vesting)||Stretch target (100% vesting)||End measurement point|
|PBT (50% of award)||£97.75m||£115.0m||Final year of the performance period|
|EPS (50% of award)||29.87p||35.14p||Final year of the performance period|
The correction of this error has no impact on the Company’s reported financial results.
A copy of this erratum note will be uploaded to the Company’s website shortly.