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    Παρασκευή, 17-Σεπ-2021 16:55

    Coca-Cola HBC AG: 2021 Performance Share Plan (‘PSP') Awards - Performance Conditions

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    Coca-Cola HBC AG

     

    2021 Performance Share Plan (‘PSP') Awards - Performance Conditions

     

     

    Zug, Switzerland – 17 September 2021 - As disclosed in the Integrated Annual Report of the Company for the year ended 31 December 2020 (the "2020 IAR") and as announced on 18 March 2021, on 16 March 2021 the Chief Executive Officer and certain other PDMRs of the Company were granted nil-cost performance shares of CHF 6.70 each (the "Shares") in the Company through their participation in the Stock Option and Performance Share Award Plan ("PSP"). These awards will vest after three years, subject to the achievement of performance conditions.

    However, due to uncertainty caused by the impact of the COVID-19 pandemic, and as noted in the 2020 IAR, the calibration of targets had not been finalised as at the date of grant. It was agreed therefore, in accordance with Investment Association guidance, that whilst the 2021 PSP awards would be granted on the usual timeframe in March 2021, the performance conditions applicable to those awards would be confirmed within six months of grant.

    As determined by the Remuneration Committee, the performance conditions have now been finalised and are set out below:

    Performance Conditions

    Measure

    Weighting

    Further detail

    Earnings per Share (EPS)

    42.5%

    Threshold (25% vesting): 1.63

    Maximum (100% vesting): 1.89

    Straight line payout curve modelled from Threshold to Maximum is determined at the end of the three-year plan period

    Return on Invested Capital (ROIC)

    42.5%

    Threshold (25% vesting): 13.0%

    Maximum (100% vesting): 14.9%

    Straight line payout curve modelled from Threshold to Maximum is determined at the end of the three-year plan period

    Sustainability Metric (‘000 tons of CO2 emissions equivalent)

    15%

    Threshold (25% vesting): 3.973

    Maximum (100% vesting): 3.758

    Straight line payout curve modelled from Threshold to Maximum is determined at the end of the three-year plan period

    Full disclosure in respect of the 2021 PSP awards and applicable performance conditions will be included in the 2021 Directors' Remuneration Report.

    For further information please contact:

    Jan Gustavsson

    General Counsel and Company Secretary

    +41 (0) 41 726 01 10

     

     

    About Coca-Cola HBC

    Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve more than 600 million consumers across a broad geographic footprint of 28 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our more than 26,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.

    Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit https://www.coca-colahellenic.com.

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