14th Nov 2006 16:02
Punch Taverns PLC14 November 2006 Punch Taverns plc (the "Company")14 November 2006 NOTIFICATION OF DIRECTOR / PDMR SHAREHOLDING On 13 November 2006, in accordance with the rules of the Company's share relatedincentive schemes, the Remuneration Committee has granted the followingconditional awards, at a price of £11.28 per share (the closing share price on10 November 2006), to the Executive Directors and PDMRs of the Company: Long Term Incentive Plan (LTIP) Number of LTIP Shares AwardedKaren Caddick 13,852Adrian Fawcett 43,883Neil Griffiths 14,406Andrew Knight 42,553Robert McDonald 45,567Francis Patton 13,852Jonathan Paveley 39,007Neil Preston 7,181Giles Thorley 79,787 The release of awards to participants under the LTIP is dependent upon the TotalShareholder Return performance of the Company relative to a relevant comparatorgroup measured over a three year period from the date of award. 25% of the awardwill be released for achievement of the median position, 100% will be releasedfor achievement of a position in the upper quartile of the comparator group.Straight line vesting will occur between these two points. Deferred Share Bonus Plan (DSB) Number of Bonus Number of Deferred Shares Issued Bonus Shares AwardedAdrian Fawcett 1,518 2,573Neil Griffiths 446 756Andrew Knight 1,594 2,702Robert McDonald 1,695 2,872Francis Patton 447 758Jonathan Paveley 1,317 2,232Neil Preston 506 858Giles Thorley 4,021 6,815 The release of the Deferred Bonus Shares is subject to minimum earnings pershare growth of the Company of RPI + 5% per annum in respect of the three yearperiod from the date of grant and that each participant retains his or her BonusShares for three years (in the case of the awards detailed here, until 13November 2009). Neil PrestonCompany SecretaryPunch Taverns plc01283 501 751 14 November 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Punch Taverns PLC