5 May 2016 14:48
GAME Digital plc (the 'Company') Notification of Transactions of Directors/Persons Discharging Managerial Responsibility ('PDMR')
Performance Share Plan
It was confirmed on 5 May 2016 that, on 4 May 2016, the following awards under the GAME Digital plc Performance Share Plan (the 'PSP') were made to Executive Directors and the PDMR of the Company:
Name | Director / PDMR | Allocation of Performance Shares (See Note Below) |
Martyn Gibbs | Director | 492,772 |
Mark Gifford | Director | 306,614 |
Pablo Crespo | PDMR | 137,747 |
Note: This award was granted as a nil cost option over ordinary shares with a nominal value of £0.01 each in the Company, where a participant will normally be entitled to exercise their award and receive the shares between the third and sixth anniversary of grant, subject to the extent to which performance conditions have been satisfied and their continuing employment. No cash consideration was paid for the grant of the award however the participants did surrender their rights to awards made under the PSP on 22 October 2015 in consideration for the grant of these awards.
The extent to which any PSP awards will vest will be determined by reference to the Group's basic adjusted earnings per share ('EPS'), 20% of the award, and total shareholder return ('TSR'), 80% of the award, as follows:
Earnings per share | Total shareholder return | ||
Basic adjusted EPS for the 12 months ending 26 January 2019 on a tax normalised basis (20% of award) | % of award vesting | Relative TSR growth vs. FTSE All-Share Index (80% of award) | % of award vesting |
14.8p | 25% | 0% p.a. | 25% |
17.4p | 100% | 10% p.a. (non-cumulative)* | 100% |
* For sake of clarity, equal to the relative TSR growth vs. FTSE All-Share Index + 30% points over the performance period.
Pro-rata vesting will be applied between the points. TSR will be will be measured over three year period from the date of grant (4 May 2016), based on an average share price for the 30 dealing days prior to that day and ending with the average share price over the last 30 dealing days prior to the 3rd anniversary of the date of grant. For the purposes of this award, the grant was made at a Share price of £1.1415.
As consideration for the 4 May 2016 award, the Executive Directors and the PDMR of the Company surrendered their rights to the following award made to them under the PSP on 22 October 2015.
Name | Director / PDMR | Performance Shares Surrendered
|
Martyn Gibbs | Director | 285,315 |
Mark Gifford | Director | 177,529 |
Pablo Crespo | PDMR | 64,498 |
As a result of the award made on 4 May 2016, and the surrendering of the 22 October 2015 award, the following table sets out the total interest in shares under the PSP for the Executive Directors and the PDMR of the Company.
Name | Director / PDMR | Total interest in shares under the PSP following notification |
Martyn Gibbs | Director | 1,335,560 |
Mark Gifford | Director | 306,614 |
Pablo Crespo | PDMR | 571,012 |
This notification is made in accordance with DTR 3.1.4(1).
Ruth Cartwright
Company Secretary
Tel: 01256 784229
5 May 2016