PARIS--(BUSINESS WIRE)--Regulatory News:
FOCUS HOME INTERACTIVE (Paris:ALFOC) (FR0012419307 ALFOC), a leading French video game publisher, announces today the implementation of a plan to grant free performance shares to four members of the Executive Committee. In accordance with resolution 10 voted at the Combined General Meeting of 22 September 2020, authorizing the creation of a maximum of 200 000 free share the Supervisory Board of Focus Home Interactive has authorised the Group's Management Board to set up a plan to grant free performance shares.
The first beneficiaries of the plan are the following members of the Executive Committee: Mr. John Bert (Chief Operating Officer), Mr. Luc Heninger (Chief Production Officer), Mr. Jean-François Busnel (Chief Financial Officer) and Mr. Thomas Barrau (Chief Marketing Officer). The new or existing shares, that will be allocated to the beneficiaries over a period of four years, will be subject to their presence within the Group and the achievement of performance indicators.
In addition, the members of the Executive Committee have undertaken to retain at least the two-thirds of the ordinary shares they hold today for a period of between four and six years.
On this occasion, Mr. Christophe Nobileau, Chairman of the Management Board declared: "On behalf of Focus Home Interactive, we welcome the implementation of this free share allocation plan, which will enable us to continue our history of growth over the long term by securing the loyalty of the Group's key managers, thereby aligning their interests with those of all its shareholders and employees ".
The Management Board, acting in accordance with the delegation granted by the General Meeting, is also announcing the reallocation of a total of 20,000 treasury shares representing part of the shares acquired under the Focus Home Interactive share buyback programme. These shares, initially intended to be retained and remitted as part of an external growth operation, are now allocated to the implementation of share purchase or subscription option plans, free share allocation plans, employee shareholding operations reserved for members of a company savings plan, in accordance with the legal provisions in force, or to the transfer of shares to the benefit of employees and/or executive officers of the Company and its related companies.
About Focus Home Interactive
FOCUS HOME INTERACTIVE is a leading French publisher of video games. Its vocation is to support leading international studios in the development, production monitoring, marketing, sales and financing of their projects. As a publisher of strong brands such as The Surge, Vampyr, Mudrunner, and A Plague Tale: Innocence, the Group generated revenues of €143 million in 2019/20, up 13% compared to the previous comparable period. FOCUS HOME INTERACTIVE generates more than 90% of its sales internationally. For additional information, visit www.focus-home.com