Director Shareholding

14 Jun 2005 10:53

PayPoint PLC14 June 2005 14th June 2005 PayPoint plc PayPoint plc announces that on 13th June 2005, in accordance with the rules ofthe PayPoint plc Deferred Share Bonus Plan (the "DSB"), the following ExecutiveDirectors purchased ordinary shares in the Company and the RemunerationCommittee has granted the following conditional share awards:- Director Bonus Shares Purchased Matching Share Awards Dominic Taylor 11,944 20,243 George Earle 10,451 17,713 Tim Watkin-Rees 8,361 14,170 Under the rules of the DSB, the Executive Directors have invested 50% of theirbonus (after the deduction of tax) relating to the financial year ending 31stMarch 2005 in ordinary shares of the Company ("Bonus Shares"). The Bonus Shareswere purchased on 13th June 2005 at a price per share of £2.47. In addition, the DSB provides for the Company to allocate one Matching Share,subject to certain conditions, for every Bonus Share that would have beenpurchased if the gross bonus deferred had been invested in shares. The releaseof the Matching Share awards are subject to minimum earnings per share growth ofthe Company of RPI + 3% p.a. in respect of the three year period from the dateof grant and that each participant retains his or her Bonus Shares for threeyears (in the case of the awards detailed here, until 13th June 2008). TheMatching Shares were allocated on 13th June 2005 at a price per share of £2.47. PayPoint plc also announces that the Remuneration Committee has granted thefollowing conditional share awards to the Executive Directors under theCompany's Long-Term Incentive Plan (the "LTIP"). In accordance with the rules of the LTIP, LTIP awards were granted on 13th June2005 at a price of £2.495 per share (the closing share price on the precedingdealing day) as follows: Director LTIP Award Dominic Taylor 103,407 George Earle 73,747 Tim Watkin-Rees 61,723 The release of awards to participants under the Long Term Incentive Plan aredependent upon the Total Shareholder Return performance of the Company relativeto its comparator group measured over a three year period from the date ofgrant. - ends - This information is provided by RNS The company news service from the London Stock Exchange