ARE Arena Events Group Plc

 

TIDMARE 
 
RNS Number : 8586Q 
Arena Leisure PLC 
10 August 2010 
 

ARENA LEISURE PLC (THE 'COMPANY') 
 
10 August 2010 
 
Grant of Shares under Long Term Incentive Plan ('LTIP') 
 
The Company announces that on 9 November 2010 awards over 2,944,942 ordinary 
shares in the Company were granted to certain employees based on a share price 
of 34.95p per share ('the Awards'); the latter being the average mid market 
closing price of the Company's shares over the preceding five days.  The Awards 
have been granted as a conditional allocation of shares and so no shareholder 
rights will be conferred upon the employees until the Awards have vested. 
 
Vesting of the Awards is expected to occur following the issue of the annual 
results for 2012, subject to the Company achieving adjusted earnings per share 
('EPS') growth targets for the year ending 31 December 2012 (compared to the 
base year of 2009) as follows: 
 
+------------------------------+------------------------------+ 
| Adjusted EPS growth over the | Vesting percentage of the    | 
| performance period           | shares                       | 
|                              | subject to an Award          | 
|                              |                              | 
+------------------------------+------------------------------+ 
| =  RPI + 10% pa (non         | 0%                           | 
| compound)                    |                              | 
+------------------------------+------------------------------+ 
| = RPI + 20% pa (non          | 50%                          | 
| compound)                    |                              | 
+------------------------------+------------------------------+ 
| =  RPI + 30% pa (non         | 100%                         | 
| compound)                    |                              | 
+------------------------------+------------------------------+ 
 
Straight-line vesting occurs between 0% and 50% and between 50% and 100%. 
 
The total of Awards granted includes: 834,763 conditional shares granted to Mark 
Elliott (Chief Executive), 515,021 conditional shares granted to Tony Harris 
(Finance Director) and 498,569 conditional shares granted to Ian Renton (Racing 
Director).  This brings the total number of conditional shares awarded under the 
LTIP to Mark Elliott, Tony Harris and Ian Renton to 2,338,453, 1,472,770 and 
1,388,928 respectively.  In addition to these LTIP conditional shares, Mark 
Elliott holds options over a further 2,045,845 ordinary shares of the Company 
('Ordinary Shares') and Ian Renton holds options over a further 810,953 Ordinary 
Shares and owns a further 30,000 Ordinary Shares. 
 
The issued share capital of the Company consists of 364,202,007 ordinary shares 
of 5p each. 
 
For further information, please contact: 
 
 
Bob Mercer 
Chief Financial Officer and Company Secretary 
       020 7632 2080 
Arena Leisure Plc 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RDSSFIFLSFSSEEA 
 

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