New Star Asset Management Group(NSAM)

Sector:

General Financial

Index:

FTSE Small Cap

Market Cap

£276.64m

Change Today

Price Down-0.75p

Share Price

103.00p

New Star unveils staff incentive plan

Date: Friday 30 May 2008

LONDON (ShareCast) - Struggling fund manager New Star Asset Management has announced details of its new staff incentive plan.

Selected executives of the New Star group, currently numbering 35 and excluding the chairman and chief executive, will participate in a performance-based share plan.

Under the terms of the plan the participants will acquire new shares and will benefit from the growth in value of those shares (less a carrying cost of 5% per annum) subject to performance targets being met.

For the purposes of making awards under the plan, 35m new New Star shares (“plan shares”) will be issued. The newly issued shares represent 15% of the current issued share capital of New Star.

The plan shares will be purchased at the prevailing market price by the participants and the New Star Employee Benefit Trust (EBT) with the EBT paying all but a penny of the cost of each share.

The incentive scheme will run until the end of 2012.

In addition to the share plan, New Star proposes to adopt a performance-related cash bonus plan in which all of the group's employees will be eligible to participate.

The company expects annual cash cost of the cash bonus plan will be in the range of £5m to £10m.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

NSAM Market Data

Currency UK Pounds
Share Price 103.00p Price Down
Change Today -0.75p
52 Week High 420.00
52 Week Low 79.25
Volume 256,280
Shares Issued 268.58m
Market Cap £276.64m
Beta 1.73
RiskGrade 411

Performance Indicators

Compare performance with the sector and the market.
Find out more
Key: vs Market vs Sector
Value
82.37% above the market average82.37% above the market average82.37% above the market average82.37% above the market average82.37% above the market average
73.16% above the sector average73.16% above the sector average73.16% above the sector average73.16% above the sector average73.16% above the sector average
Price Trend
31.4% below the market average31.4% below the market average31.4% below the market average31.4% below the market average31.4% below the market average
25.69% below the sector average25.69% below the sector average25.69% below the sector average25.69% below the sector average25.69% below the sector average
Income
22.94% above the market average22.94% above the market average22.94% above the market average22.94% above the market average22.94% above the market average
36.17% below the sector average36.17% below the sector average36.17% below the sector average36.17% below the sector average36.17% below the sector average
Growth
90.23% above the market average90.23% above the market average90.23% above the market average90.23% above the market average90.23% above the market average
82.80% above the sector average82.80% above the sector average82.80% above the sector average82.80% above the sector average82.80% above the sector average
Price Chg 6m
82.49% above the market average82.49% above the market average82.49% above the market average82.49% above the market average82.49% above the market average
84.98% above the sector average84.98% above the sector average84.98% above the sector average84.98% above the sector average84.98% above the sector average
P/E
87.54% above the market average87.54% above the market average87.54% above the market average87.54% above the market average87.54% above the market average
75.18% above the sector average75.18% above the sector average75.18% above the sector average75.18% above the sector average75.18% above the sector average
PEG
78.85% above the market average78.85% above the market average78.85% above the market average78.85% above the market average78.85% above the market average
62.16% above the sector average62.16% above the sector average62.16% above the sector average62.16% above the sector average62.16% above the sector average
Dividend Yield
26.88% above the market average26.88% above the market average26.88% above the market average26.88% above the market average26.88% above the market average
8.7% below the sector average8.7% below the sector average8.7% below the sector average8.7% below the sector average8.7% below the sector average
EPS Growth
59.88% above the market average59.88% above the market average59.88% above the market average59.88% above the market average59.88% above the market average
54.55% above the sector average54.55% above the sector average54.55% above the sector average54.55% above the sector average54.55% above the sector average
Operating Margin
54.17% above the market average54.17% above the market average54.17% above the market average54.17% above the market average54.17% above the market average
38.83% above the sector average38.83% above the sector average38.83% above the sector average38.83% above the sector average38.83% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 3
Sell 0
Strong Sell 2
Total 6
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

NSAM Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Sep-08 02-Apr-08
Paid 28-Oct-08 22-May-08
Amount 1.00p 1.00p

Trades for 05-Sep-2008

Time Volume / Share Price
14:45 1,161 @ 103.00p
14:42 547 @ 103.25p
14:42 3,292 @ 103.25p
14:42 2,200 @ 103.25p
14:30 475 @ 103.00p

NSAM Key Personnel

CEO Howard Covington

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