23rd Jan 2008 16:31
Punch Taverns PLC23 January 2008 Punch Taverns plc (the "Company")23 January 2008 NOTIFICATION OF DIRECTOR / PDMR SHAREHOLDING Long-Term Incentive Plan 2008 (the "Plan") Following the approval of the Plan by shareholders at the Company's AnnualGeneral Meeting held on 16 January 2008, the Remuneration Committee has, inaccordance with the rules of the Plan, granted the following conditional awards,at a price of £5.715 per share (the closing share price on 21 January 2008), tothe Executive Directors and Persons Discharging Managerial Responsibilities(PDMRs) of the Company: Executive Directors Number of LTIP Shares Granted Giles Thorley 183,727Phil Dutton 122,484Jonathan Paveley 95,888Andrew Knight 95,888Deborah Kemp 95,888 PDMRs Karen Caddick 36,964Neil Griffiths 34,120Tracy Jones 32,895Neil Preston 12,248 The release of awards to participants under the LTIP is dependent upon twomeasures: 50% of release is based upon growth in Earnings Per Share ("EPS") measured overthree years against the base of 2006/2007 financial year. Of the 50%, onequarter will vest for annualised EPS growth of RPI+3% p.a. over the performanceperiod with the full 50% vesting occurring for EPS growth of RPI+8% p.a.Straight line vesting will occur between these two points. The remaining 50% is dependent on the Total Shareholder Return ("TSR")performance of the Company relative to a relevant comparator group.. Of the 50%,one quarter of the award will be released for achievement of the medianposition, with the full 50% being released for achievement of a position at theupper quartile of the comparator group. Straight line vesting will occur betweenthese two points. Date of Notification: 23 January 2008 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