Director/PDMR Shareholding

6 Jun 2006 12:58

PayPoint PLC06 June 2006 6 June 2006 PayPoint plc PayPoint plc announces that on the 5 June 2006, in accordance with the rules ofthe PayPoint plc Deferred Share Bonus Plan (the 'DSB'), the following ExecutiveDirectors and Persons Dispensing Managerial Responsibility ('PDMR') purchasedordinary shares in the Company ('Bonus Shares') and the Remuneration Committeehas granted the following conditional share awards ('Matching Shares'): Director/PDMR Bonus Shares Purchased Matching Share AwardsDominic Taylor 4,841 8,206George Earle 4,143 7,022Tim Watkin-Rees 3,467 5,877Mike Igoe 360 610John Lee 1,756 2,977Thomas Vogt-Skard 1,351 2,290 Under the rules of the DSB, the Executive Directors and PDMRs are able to deferup to 50% of their bonus (after the deduction of tax) relating to the financialyear ending 31 March 2006 to acquire ordinary shares of the Company ('BonusShares'). The Bonus Shares were acquired on 5 June 2006 at a price per share of£6.55. In addition, the DSB provides for the Company to allocate one Matching Share,subject to certain conditions, for every Bonus Share that would have beenacquired if the gross bonus deferred had been invested in shares. The release ofthe Matching Share awards is subject to minimum earnings per share growth of thecompany of RPI + 3% p.a. in respect of the three year period from the date ofgrant and each participant retaining his or her Bonus Shares for three years (inthe case of the awards detailed here, until 5 June 2009). The Matching Shareswere allocated on 5 June 2006 at a price per share of £6.55. PayPoint plc also announces that the Remuneration Committee has granted thefollowing conditional share awards to the Executive Directors and PDMRs underthe Company's Long Term Incentive Plan (the 'LTIP'). In accordance with the rules of the LTIP, LTIP awards were granted on the 5 June2006 at a price of £6.45 per share (the closing price on the preceding dealingday) as follows: Director/PDMR LTIP AwardDominic Taylor 43,720George Earle 31,007Tim Watkin-Rees 25,891Mark Astbury 9,922Mike Igoe 7,984John Lee 10,620Thomas Vogt-Skard 8,139 The release of LTIP awards to participants under the Long Term Incentive Planare dependent upon the Total Shareholder Return performance of the Companyrelative to its comparator group measured over a three year period from the dateof grant. As a result of a structural review of the Company, Lorraine Buhagiar, SusanCourt, Jonathan Moon, Barry Skillett and David Steed are not considered to bePDMRs and the Company will no longer issue any notices in respect oftransactions in Company shares conducted by any of one of them. - ends - This information is provided by RNS The company news service from the London Stock Exchange