20th Nov 2007 14:19
Punch Taverns PLC20 November 2007 Punch Taverns plc (the "Company")20 November 2007 NOTIFICATION OF DIRECTOR / PDMR SHAREHOLDING LONG TERM INCENTIVE PLAN ("LTIP") The Company announces the release of conditional share awards granted on 18November 2004 under the Company's LTIP to its Executive Directors and PersonsDischarging Managerial Responsibilities ('PDMRs'). The Company has achieved upper quartile total shareholder return performancewhen measured against the designated comparator group over the three yearperformance period. Therefore in accordance with the rules of the LTIP 100% ofthe shares subject to the awards have been released. Accordingly on 18 November2007 the Executive Directors and PDMRs listed below became the legal andbeneficial owners of the following Ordinary shares of the Company: Executive Directors Number of Ordinary shares Giles Thorley 84,076Jonathan Paveley 19,217Deborah Kemp 10,370 PDMRs Neil Griffiths 5,072Francis Patton 9,468Neil Preston 8,882TOTAL 137,085 The release of these Ordinary shares has resulted in a personal tax liabilitybased on the value on their release. On 19 November 2007 the Executive Directors and PDMRs listed below disposed ofthe following Ordinary shares of the Company at a price of £8.73 per share forthe sole purpose of paying the tax due on release of the awards. Executive Directors Number of Ordinary shares Giles Thorley 35,720Jonathan Paveley 8,165Deborah Kemp 4,406 PDMRs Francis Patton 4,023Neil Preston 3,774TOTAL 56,088 DEFERRED SHARE BONUS PLAN ("DSB") Following the completion of the three year holding period, and the achievementof the required earnings per share growth, 100% of the Deferred Bonus Sharesgranted on 17 November 2004 have been released. Accordingly on 17 November 2007the Executive Directors and PDMRs listed below became the legal and beneficialowners of the following Ordinary shares of the Company: Executive Directors Number of Ordinary shares Giles Thorley 12,589Jonathan Paveley 1,249Deborah Kemp 2,690 PDMRs Neil Griffiths 817Francis Patton 2,690Neil Preston 1,596 TOTAL 21,631 The release of these Ordinary shares has resulted in a personal tax liabilitybased on the value on their release. On 19 November 2007 the Executive Directors and PDMRs listed below disposed ofthe following Ordinary shares of the Company at a price of £8.73 per share forthe sole purpose of paying the tax due on release of the awards. Executive Directors Number of Ordinary shares Giles Thorley 5,349Jonathan Paveley 533Deborah Kemp 1,143 PDMRs Francis Patton 1,143Neil Preston 680 TOTAL 8,848 INTERESTS As a result of the above transactions the Executive Directors and PDMRs listedbelow now have the following interests in the Ordinary share capital of theCompany: Executive Ordinary shares in the Company Other interests held over Ordinary Directors shares in the Company* Giles Thorley 293,120 2,065,906Jonathan Paveley 25,219 95,835Deborah Kemp 98,894 38,966 PDMRs Neil Griffiths 26,605 41,503Francis Patton 51,052 57,858Neil Preston 14,336 35,204 * Other interests include, where applicable, outstanding rights to subscribe for shares, or receive shares at nil cost, under the Company's various share related incentive plans. The issued share capital of Punch Taverns plc is now 266,248,050 Ordinary shares of 0.04786p each. Date of Notification: 20 November 2007 Name of contact and telephone number for queries: Neil PrestonCompany SecretaryPunch Taverns plcTel: 01283 501 751 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Punch Taverns PLC