The Rank Group Long-Term Incentive Plan 2005

RNS Number : 0104C

Rank Group PLC

28 February 2011

The Rank Group Plc

- The Rank Group Long-Term Incentive Plan 2005

The Rank Group Plc ("Rank") announces that on 25 February 2011, a total of 1,200,379 ordinary shares of 13⁸/₉pence each ("Shares") vested in favour of Persons Discharging Managerial Responsibilities ("PDMR") under the terms of The Rank Group Long-Term Incentive Plan 2005 ("2005 LTIP"). The vesting, details of which are provided below, related to the performance awards granted to the relevant individuals under the 2005 LTIP on 10 September 2008.

Name	Role	Number of ordinary 13⁸/₉p shares originally awarded	Number of ordinary 13⁸/₉p shares that vested on 25 February 2011
Directors:
Ian Burke	Chief Executive	667,047	667,047
Paddy Gallagher	Finance Director	380,952	380,952
PDMR:
Frances Bingham	Company Secretary	152,380	152,380

In accordance with the rules of the 2005 LTIP, all of the above shares have been transferred to the relevant individuals by the trustee of Rank's Employment Benefit Trust.

Following this transfer, a total of 612,194 Shares were sold at an average price of 132.3422 pence per Share on behalf of the PDMRs on 25 February 2011. Details of these sales, and the resulting effect on the PDMRs' shareholdings, are set out below:

Name	Role	Previous shareh-olding	Shares received	Shares sold	New shareh-olding
Directors:
Ian Burke	Chief Executive	260,553	667,047	340,194	587,406
Paddy Gallagher	Finance Director	160,000	380,952	194,286	346,666
PDMR:
Frances Bingham	Company Secretary	-	152,380	77,714	74,666

It should be noted that, on 15 May 2007, the Company also granted performance awards to its PDMRs. The vesting of these Awards was conditional on the satisfaction of certain performance criteria by Rank over a period of four consecutive financial years. Whilst on the basis of the adjusted earnings per share measure alone, 58% of the award was due to vest, the committee considered Rank's four-year total shareholder return ("TSR") over the same period. Given Rank's TSR performance, relative to the FTSE-350, the committee was of the view that it was inappropriate for any part of the award to vest with the result that these performance awards, details of which are provided below, have now lapsed in full:

Name	Role	Number of ordinary 13⁸/₉p shares originally awarded with a 4-year performance period	Number of ordinary 13⁸/₉p shares that vested on 25 February 2011
Director:
Ian Burke	Chief Executive	134,271	-