10th Sep 2007 15:50
Punch Taverns PLC10 September 2007 Punch Taverns plc (the "Company")10 September 2007 NOTIFICATION OF DIRECTOR / PDMR SHAREHOLDING PURCHASE OF SHARES The Company has been notified that on 7 September 2007, Phil Dutton purchased10,000 Ordinary shares of 0.04786p each in the capital of the Company at a priceof £10.82 per share. LONG TERM INCENTIVE PLAN (LTIP) On 10 September 2007, in accordance with the rules of the Company's sharerelated incentive schemes, the Company granted 33,947 LTIP shares, at a price of£10.31 per share (the closing share price on 7 September 2007), to Phil Dutton. The release of this award, 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. INTERESTS As a result of the above transactions Phil Dutton now has the followinginterests in the Ordinary share capital of the Company: Ordinary Shares in Number of Ordinary the Company Shares subject to the LTIP Award 10,000 33,947 The issued share capital of Punch Taverns plc is currently 265,954,856 Ordinary shares of 0.04786p each. Date of Notification: 10 September 2007 Neil PrestonCompany SecretaryPunch Taverns plc01283 501 751 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Punch Taverns PLC