Excess Total Return means for an accounting period, it is calculated by reference to: (i) the difference between the Performance Share Price at the end of that accounting period and the higher of: (a) the Performance Hurdle (being issue price compounded by 10 percent per annum from initial Admission subject to appropriate adjustments in certain situations); and (b) high watermark (being the Performance Share Price at the end of the last accounting period where a performance fee was payable); multiplied by (ii) the weighted average of the number of Ordinary Shares in issue (excluding any shares held in treasury) at the end of each day during that accounting period;
Excess Total Return. ’ means, in relation to each Accounting Period, the amount by which the Closing Market Capitalisation exceeds ‘‘G’’ multiplied by ‘‘H’’, where:
Excess Total Return means, in relation to each Performance Period, the amount by which the Total Return exceeds the Performance Hurdle;