6th Mar 2008 15:16
PartyGaming Plc06 March 2008 6 March 2008 PartyGaming Plc ("PartyGaming", the "Company") Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons In accordance with PartyGaming's long-term incentive plans for ExecutiveDirectors that were approved by shareholders on 21 March 2007, the followingawards over the Company's ordinary shares of 0.0015 pence each ("Shares") havetoday been granted to Martin Weigold, Group Finance Director: PartyGaming Plc Executive Share Option Plan ("ESOP") Under the ESOP Mr. Weigold has been awarded an option over 1,714,020 Shares.These options vest subject to the growth in the Company's Clean Earnings perShare1 equalling or exceeding 15% per annum in the three year period from 1January 2008 to 31 December 2010. This option is exercisable at 25 pence perShare and has been awarded at nil-cost. Unless exercised following thesatisfaction of the aforementioned performance condition, these options willlapse on 6 March 2018. This is the second award to be granted under the ESOP to Mr. Weigold. The firstaward was made on the 11 May 2007 over 883,600 Shares. PartyGaming Plc Performance Share Plan ("PSP") Under the PSP Mr. Weigold has been granted an award over 1,714,020 Shares. Thisaward vests subject to the achievement of a total shareholder return ("TSR")performance target over the 3 year period 1 January 2008 to 31 December 2010compared to the median TSR of a sector comparator group. The threshold forvesting, at which 25% will vest, will be the TSR equalling the median of thecomparator group, rising on a straight line basis to 100% vesting if theCompany's TSR exceeds the median by 10% per annum calculated over theabove-mentioned performance period. This award has been granted and isexercisable at nil-cost. PSP awards vest automatically if and when theCompany's Remuneration Committee determines the aforementioned performancecondition has been satisfied. This is the second award to be granted under the PSP to Mr. Weigold. The firstaward was made on the 11 May 2007 over 883,600 Shares. Contacts: PartyGaming Plc +350 78700Robert Hoskin, Company Secretary (1) Clean Earnings per Share is defined as earnings per share in respect ofcontinuing operations before reorganisation costs, non-recurring adjustment torevenue, charges relating to share based payments and release of tax provision. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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