Financial Statements

13. Share-based Long Term Incentive Plans "LTIP"

Equity settled awards are granted to employees in the form of share awards. No consideration is payable when share awards vest. The vesting period is three years. Share awards will also expire if the employee leaves the Group prior to the exercise or vesting date subject to the discretionary powers of the Remuneration Committee.

Performance Share Plan

The award of shares is made under the SuperGroup Performance Share Plan ("PSP"). Shares have no value at grant date, but subject to the satisfaction of earnings per share, share price and total shareholder return, performance targets can convert and give participants the right to be granted nil-cost shares at the end of the performance period.

The terms and conditions of the award of shares granted under the PSP during the year are as follows:

Group & Company
Grant date Type of award Number of shares Vesting period
23 September 2010 Share awards 70,985 3 years
24 March 2011 Share awards 13,953 3 years

The fair value of the shares awarded at grant date was £1.1m (2010: £nil) of which £0.2m (2010: £nil) has been recorded in the Group statement of comprehensive income during the period.

No further disclosures are considered necessary as the impact of the scheme is currently not material to the Group.