SECTION 430(2B) COMPANIES ACT 2006 STATEMENT – Simon Wykes

Following the announcement on 11 August 2020, Simon Wykes stepped down as Transition Director of Gamesys Group plc and left the business on 30 September 2020.

The following arrangements will apply in respect of Simon’s remuneration. These arrangements comply with Gamesys Group plc’s remuneration policy, which was approved by shareholders in 2018.

Fixed Pay and Benefits

Up to 30 September 2020, Simon received his salary, pension allowance and other contractual benefits for that period.

Simon also received a payment in lieu of notice and a statutory redundancy payment as follows:

  • a payment in lieu of salary for the 12 month notice period of £379,250;
  • a payment in lieu of pension contributions for the 12 month notice period of £37,925;
  • a payment in lieu of Private Medical Insurance for the 12 month notice period of £2,242.15; and
  • a statutory redundancy payment of £1,614.

Annual Bonus Payment

Simon is eligible to earn a bonus payment for the 2020 financial year. Any bonus will be earned subject to the satisfaction of the performance measures, will be reduced pro-rata to reflect the period of Simon’s service during the year and will  be paid at the usual time following the end of the financial year. Details of any bonus earned will be included in the Directors’ Remuneration Report for the 2020 financial year. 

Share incentives

Simon holds awards under the Gamesys Group plc Long-Term Incentive Plan (“LTIP”) granted in 2018 (subject to a three year performance period ending 31 December 2020) and 2019 (subject to a three year performance period ending 31 December 2021). Simon will retain these awards which will vest at the originally envisaged time subject to the satisfaction of the applicable performance measures assessed over the original performance periods and a pro-rata reduction to reflect the proportion of the performance period served. Following vesting, the awards will remain subject to a two year holding period before they can be exercised. Details of vesting amounts will be included in Directors’ Remuneration Reports as required.