ARE.L Regulatory News (ARE)

9 May 2008 11:54

Arena Leisure PLC09 May 2008 ARENA LEISURE PLC (THE 'COMPANY') Grant of Shares under Long Term Incentive Plan ('LTIP') The Company announces that on 8 May 2008 an award over 338,983 ordinary sharesin the Company was granted to Tony Harris (Finance Director) based on a shareprice of 41.3p per share; the latter being the average mid market closing priceof the Company's shares over the preceding five days. The award has beengranted as a conditional allocation of shares and so no shareholder rights willbe conferred upon the employee until the award has vested. Vesting of the award is expected to occur three years after the date of grant,subject to the Company achieving adjusted earnings per share ('EPS') growthtargets for the year ending 31 December 2010 as follows: Adjusted EPS growth over the Vesting percentage of the shares performance period subject to an AwardLess than RPI + 12% 0%RPI + 12% 25%RPI + 30% 100% Straight-line vesting occurs between 25% and 100% The issued share capital of the Company consists of 364,202,007 ordinary sharesof 5p each. For further information, please contact: Bob MercerChief Financial Officer and Company Secretary 020 7632 2080Arena Leisure Plc This information is provided by RNS The company news service from the London Stock Exchange