PayPoint plc : Long Term Incentive Plan Awards
PayPoint plc announces that on 2 June 2014, the Remuneration Committee has granted the following conditional share awards to Executive Directors and Persons Discharging Managerial Responsibility ('PDMRs') under the Company's Long Term Incentive Plan (the 'LTIP').
In accordance with the rules, LTIP awards were granted on the 2 June 2014 at a price of £10.55 per share (the closing price on the preceding dealing day) as follows:
The release of LTIP awards to participants under the Long Term Incentive Plan are 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.
Deferred Share Bonus Plan Awards
PayPoint plc announces that on the 2 June 2014 in accordance with the rules of the PayPoint plc Deferred Share Bonus Plan (the 'DSB'), the following Executive Directors and PDMRs purchased ordinary shares in the Company ('Bonus Shares') and the Remuneration Committee has granted the following conditional share awards ('Matching Shares'):
The Bonus Shares were acquired on 2 June 2014 at a price of £10.55 per share.
Participants are required to defer at least 25% of their cash bonus under the plan. Deferred awards are eligible for matching shares, which are subject to:
In addition to the 25% mandatory deferral, participants may elect to defer up to a further 25% of their cash bonus received in respect of the year ending 31 March 2014 into Company shares. Any additional deferral will also be eligible for matching shares.
The Matching Shares were allocated on 2 June 2014 at a price of £10.55 per share.