21 Oct 2016 14:14
GAME Digital plc (the 'Company') Notification of Transactions of Directors/Persons Discharging Managerial Responsibility
Performance Share Plan
It was confirmed on that on 21 October 2016 that on 20 October 2016, the following awards under the GAME Digital plc Performance Share Plan (the 'PSP') was made to Executive Directors and the PDMR of the Company:
Name | Director / PDMR | Allocation of Performance Shares (See Note Below) | Total interest in shares under the PSP following notification |
Martyn Gibbs | Director | 830,871 | 2,166,431 |
Mark Gifford | Director | 516,986 | 823,600 |
Pablo Crespo | PDMR | 262,120 | 833,132 |
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 consideration was paid for the grant of the award.
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 FY18/19 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 |
7.8p | 25% | 0% p.a. | 25% |
9.2p | 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 measured over three financial years starting with the financial year in which the award is made, based on an average share price for the 30 dealing days prior to the start of the first financial year and ending with the average share price over the last 30 dealing days of the last financial year.
For the purposes of this award, the grant was made at a Share price of 67.7 pence.
This notification is made in accordance with DTR 3.1.4(1).
Ruth Cartwright
Company Secretary
Tel: 01256 784229
21 October 2016