18th Jun 2007 14:18
Punch Taverns PLC18 June 2007 Punch Taverns plc (the "Company")18 June 2007 NOTIFICATION OF DIRECTOR / PDMR SHAREHOLDING The Company announces the release of conditional share awards granted on 15 June2004 under the Company's Long Term Incentive Plan (the "LTIP") to JonathanPaveley, an Executive Director of the Company. 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 at a price of £13.30 pershare. Accordingly on 15 June 2007 Mr Paveley became the legal and beneficialowner of 10,266 Ordinary shares of the Company. The release of the 10,266 Ordinary shares resulted in a personal tax liabilitybased on the value on their release. Accordingly, on 18 June 2007 Mr Paveleydisposed of 4,263 Ordinary shares of the Company, at a price of £13.18 pershare, for the sole purpose of paying the tax due on release of the awards. As a result, Mr Paveley now has the following interests in the Ordinary sharecapital of the Company: Executive Directors Ordinary shares in the Options held over Ordinary Company shares in the CompanyJonathanPaveley 10,595 105,089 The issued share capital of Punch Taverns plc is now 265,908,474 Ordinary shares of 0.04786p each. Date of Notification: 18 June 2007 Name of contact and telephone number for queries: Claire Stewart Assistant Company Secretary Punch Taverns plc Tel: 01283 501 858 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Punch Taverns PLC