TIDMARE

RNS Number : 1442E

Arena Leisure PLC

01 April 2011

ARENA LEISURE PLC

('ARENA' OR THE 'COMPANY')

Grant of Shares under Long Term Incentive Plan ('LTIP') and Director's Share Dealings

The Company announces that on 1 April 2011 awards over 2,361,967 ordinary shares in the Company were granted to certain employees based on a share price of 27.5p per share ('the Awards'); the latter being based on the average mid market closing price of the Company's shares over the preceding three days.

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 2013, subject to the Company achieving adjusted earnings per share ('EPS') growth targets for the year ending 31 December 2013 (compared to the base year of 2010) as follows:

 
                                   Vesting percentage of 
 Adjusted EPS growth over the       the shares 
 performance period                subject to an Award 
 <= RPI + 10% pa (non compound)             0% 
 = RPI + 20% pa (non compound)              50% 
 >= RPI + 30% pa (non compound)            100%

Straight-line vesting occurs between 0% and 50% and between 50% and 100%.

The Awards consist of two elements. The Base Awards cover 1,847,842 shares and have been granted as a conditional allocation of shares. The Additional Awards cover 514,125 shares and have also been granted as a conditional allocation of shares to those recipients of Base Awards that agreed to purchase 'matching' shares in the Company.

In connection with the granting of the Additional Awards, the Board of Arena has been notified that on 31 March 2011 the following directors purchased ordinary shares in the Company as detailed below:

 
                                         Price paid     Number of   % holding 
                             Number of    per share    shares now      in the 
 Director / PDMR       shares acquired      (pence)          held     Company 
-------------------  -----------------  -----------  ------------  ---------- 
 Mark Elliott, 
  Chief Executive               81,479        27.25        81,479       0.022 
-------------------  -----------------  -----------  ------------  ---------- 
 Tony Harris, 
  Finance Director              50,277        27.25        50,277       0.014 
-------------------  -----------------  -----------  ------------  ---------- 
 Ian Renton, 
  Racing Director               49,187        27.25        79,187       0.022 
-------------------  -----------------  -----------  ------------  ----------

The Awards of conditional shares made to the directors of the Company on 1 April 2011, the total number of conditional shares awarded to them under the LTIP scheme and under the previous share option scheme are as detailed below:

 
                                                          Total 
                                                      number of   Total number 
                                                    shares held      of shares 
 Director /                Awards made on 1 April     under the     held under 
 PDMR                                        2011          LTIP         option 
-------------  ----------------------------------  ------------  ------------- 
                             Additional 
                Base Award        Award     Total 
-------------  -----------  -----------  --------  ------------  ------------- 
 Mark 
  Elliott, 
  Chief 
  Executive        543,192      162,957   706,149     2,543,829      2,045,845 
-------------  -----------  -----------  --------  ------------  ------------- 
 Tony Harris, 
  Finance 
  Director         335,180      100,554   435,734     1,569,521            nil 
-------------  -----------  -----------  --------  ------------  ------------- 
 Ian Renton, 
  Racing 
  Director         327,913       98,374   426,287     1,523,856        810,953 
-------------  -----------  -----------  --------  ------------  -------------

The issued share capital of the Company consists of 364,202,007 ordinary shares of 5p each.

1 April 2011

For further information, please contact:

 
 Arena Leisure Plc                      020 7632 2080 
 Bob Mercer 
 Chief Financial Officer and Company 
  Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

END

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