Deferred Share Bonus Plan
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3 June 2011 Immediate release PayPoint plc (“the Company") Deferred Share Bonus Plan PayPoint plc announces that on the 2 June 2011 in accordance with the rules of the PayPoint plc Deferred Share Bonus Plan (the 'DSB'), the following Executive Directors and Persons Dispensing Managerial Responsibility ('PDMR') purchased ordinary shares in the Company ('Bonus Shares') and the Remuneration Committee has granted the following conditional share awards ('Matching Shares'):
Under the rules of the DSB, the Executive Directors and PDMRs are subject to a 25% compulsory and maximum further 25% voluntary deferral of their bonus (after the deduction of tax) relating to the financial year ending 27 March 2011 to acquire ordinary shares of the Company ('Bonus Shares'). The Bonus Shares were acquired on 2 June 2011 at a price per share of 513.07 pence. In addition, the DSB provides for the Company to allocate one Matching Share, subject to certain conditions, for every Bonus Share that would have been acquired if the gross bonus deferred had been invested in shares. The release of the Matching Share awards is subject to minimum earnings per share growth of the company of RPI + 3% p.a. in respect of the three year period from the date of grant and each participant retaining his or her Bonus Shares for three years (in the case of the awards detailed here, until 2 June 2014). The Matching Shares were allocated on 2 June 2011 at a price per share of 513.07. – ends – Contact: |
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