PayPoint plc : Long Term Incentive Plan Awards

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:

Director	LTIP Award
Dominic Taylor		61,848
George Earle		39,099
Tim Watkin-Rees		36,729

PDMR	LTIP Award
Seamus Smith	15,924
Daniel Salmons	16,388
Graham Bird	8,293
Jon Marchant	7,890

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'):

Director	Bonus Shares Purchased	Matching Share Awards
George Earle	7,349	13,867
Dominic Taylor	9,761	18,417
Tim Watkin-Rees	6,890	13,000

PDMR	Bonus Shares Purchased	Matching Share Awards
Seamus Smith	1,877	3,541
Daniel Salmons	2,748	5,186
Jon Marchant	1,004	1,895
Graham Bird	1,845	3,481
Mugur Dogariu	792	792

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:

• minimum earnings per share growth of RPI+3% p.a. over a three year period; and
• the participant still being employed by the Company at the end of the three year deferral period, (in the case of the awards detailed here, until 2 June 2017).

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.

PayPoint Long Term Incentive Plan Awards

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PayPoint plc via Globenewswire

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