PayPoint plc – Long Term Incentive Awards
PayPoint plc (the “Company”) announces that on 29 May 2014, in accordance with the rules of the PayPoint plc Long Term Incentive Plan (the 'LTIP'), LTIP Awards granted in 2011 vested and Ordinary shares in the Company were released to the Executive Directors and Persons Discharging Managerial Responsibility (‘PDMR’) listed below.
The release of LTIP awards is dependent upon the Total Shareholder Return performance of the Company relative to its comparator group measured over a three year period from the date of grant. The level of vesting for awards granted in 2011 was 100%.
The awards were granted on 27 May 2011 at a price of 495 pence per share. The closing price of Ordinary shares in the Company on the day of release was 1,055 pence per share.
* Tax and National Insurance liability will be satisfied by the Company in cash
**In lieu of the release of Ordinary shares, the Company made a cash award to the PDMR in a sum equivalent to 1,055 pence per share.