10th Nov 2008 16:15
Punch Taverns plc (the "Company")
10 November 2008
NOTIFICATION OF DIRECTOR / PDMR SHAREHOLDING
Long-Term Incentive Plan 2008 (the "Plan")
On 10 November 2008, in accordance with the rules of the Plan, the Remuneration Committee granted the following conditional awards, at a price of £1.6625 per share (the closing share price on 7 November 2008), to the Executive Directors and Persons Discharging Managerial Responsibilities (PDMRs) of the Company:
|
Executive Directors |
Number of LTIP Shares Granted |
|
Giles Thorley |
631,578 |
|
Phil Dutton |
421,052 |
|
Jonathan Paveley |
329,624 |
|
Mike Tye |
481,203 |
|
Roger Whiteside |
481,203 |
|
PDMRs |
|
|
|
|
|
Karen Caddick |
177,894 |
|
Neil Griffiths |
172,421 |
|
Tracy Jones |
163,757 |
|
Neil Preston |
43,609 |
The release of awards to participants under the LTIP is dependent on the Total Shareholder Return ("TSR") performance of the Company relative to two relevant comparator groups. The TSR performance will be measured over a three year period, starting from the beginning of the 2008/2009 financial year. Release of the award is split equally according to the TSR performance of the company against the two different comparator groups. For the two separate components of the TSR measure, one quarter of the award will be released for achievement of the median position against the relevant comparator group with the full 50% of the award being released for a position at the upper quartile of the comparator group. Straight line vesting will occur between these two points.
Date of Notification: 10 November 2008
Name of contact and telephone number for queries:
Neil Preston
Company Secretary
Punch Taverns plc
Tel: 01283 501 751
Related Shares:
Punch Taverns PLC