7 Apr 2015 07:00

Notification of Transactions of PDMRs
Merlin Entertainments plc
(the "Company")
Grant of Conditional Share Awards to PDMRs under the Company's
Performance Share Plan ("PSP")
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In accordance with the requirements of DTR 3.1.4, the Company announces that each of the following persons, each being a Person Discharging Managerial Responsibility (a "PDMR"), has on 2 April 2015 been granted nil cost Conditional Share Awards ("Awards") in respect of Ordinary Shares of £0.01 each in the capital of the Company ("Shares") pursuant to the Company's Performance Share Plan.
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The Awards in favour of each of the PDMRs set out below are all made under the PSP:
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Name of PDMR | Number of Conditional Share Awards |
Mark Allsop | 59,389 |
Colin Armstrong | 69,230 |
David Bridgford | 69,230 |
Andrew Carr | 179,134 |
Tea Colaianni | 69,230 |
Glenn Earlam | 86,538 |
Mark Fisher | 86,538 |
John Jakobsen | 86,538 |
Nick Mackenzie | 86,538 |
Nick Varney | 328,846 |
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The Awards are subject to the performance conditions set out below. The performance conditions have been set by the Remuneration Committee having taken into account, in particular, the impact on the three-year business plan of recent capital investment and the securing of new financing facilities.
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EPS performance condition (50% of award) | |||
EPS growth | % of award vesting | Â Vesting will be calculated on a straight-line basis between threshold and 'mid-point' and between 'mid-point' and maximum performance. Â EPS growth will be calculated by comparing EPS for the financial year ending December 2017 with EPS for the financial year ending December 2014 | |
Below threshold | 0% | ||
Threshold | 7% p.a. | 10% | |
'Mid-point' | 10.5% p.a. | 27.5% | |
Maximum | 14% p.a. | 50% | |
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ROCE performance condition (50% of award) | |||
Average ROCE | % of award vesting | Â Vesting will be calculated on a straight-line basis between threshold and 'mid-point' and between 'mid-point' and maximum performance. Â Average ROCE will be calculated as an average of ROCE for the three financial years ending December 2015, 2016 and 2017 | |
Below threshold | 0% | ||
Threshold | 9% | 12.5% | |
'Mid-point' | 11% | 27.5% | |
Maximum | 13% | 50% | |
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The Awards are, in normal circumstances, conditional until 2 April 2018 when, subject to the terms of the PSP and satisfaction of the performance conditions, the Awards will unconditionally vest. No payment is due from the PDMR to the Company on vesting.
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The Company was notified of the Awards on 2 April 2015.
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Following the Awards, the numbers of Shares, Conditional Allocations of Shares and Options over Shares in respect of which the above PDMRs are interested as at close of business on 2 April 2015 are:
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Name of PDMR | Shares | 2013 Performance Share Plan Awards  (Conditional Allocations of Shares) | 2014 Sharesave Awards   (Options) | 2015 Sharesave Awards   (Options) | 2015 Deferred Bonus Plan Awards  (Conditional Allocations of Shares) | 2015 Performance Share Plan Awards  (Conditional Allocations of Shares) |
Mark Allsop | 57,846 | 88,095 | 3,036 | 2,780 | 11,291 | 59,389 |
Colin Armstrong | 1,069,154 | 117,460 | 3,036 | NIL | 13,098 | 69,230 |
David Bridgford | 1,140,000 | 117,460 | NIL | NIL | 14,303 | 69,230 |
Andrew Carr | 2,835,123 | 306,667 | 3,036 | 2,780 | 33,308 | 179,134 |
Tea Colaianni | 961,818 | 117,460 | 3,036 | 2,780 | 14,754 | 69,230 |
Glenn Earlam | 1,821,285 | 146,825 | 3,036 | NIL | 17,502 | 86,538 |
Mark Fisher | 2,245,198 | 146,825 | 3,036 | 2,780 | 18,255 | 86,538 |
John Jakobsen | 1,794,323 | 146,825 | 3,036 | 2,780 | 18,443 | 86,538 |
Nick Mackenzie | 1,891,544 | 146,825 | 3,036 | 2,780 | 18,067 | 86,538 |
Nick Varney | 6,477,823 | 560,952 | 3,036 | 2,780 | 64,364 | 328,846 |
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For further information please contact:
Colin Armstrong
Group Legal Director and Company Secretary
Merlin Entertainments plc
00 44 1202 634 955
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2 April 2015