Punch Taverns plc 2011 Annual Report
Punch Taverns plc 2011 Annual Report
Punch Taverns plc 2011 Annual Report
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<strong>Punch</strong> <strong>Taverns</strong> <strong>plc</strong><br />
<strong>Annual</strong> <strong>Report</strong> and Financial Statements <strong>2011</strong><br />
41<br />
Inland Revenue Approved Share Incentive Plan (SIP)<br />
The SIP is the current all-employee share plan operated by the Group. The following table sets out the shares purchased and awarded<br />
under the SIP in respect of the Executive Directors. Full details of the operation of the SIP are set out in the Directors’ report on<br />
page 25 and in note 27 to the accounts, which can be found on page 88.<br />
Date of<br />
award<br />
Date of<br />
release<br />
Share price<br />
at date of<br />
purchase of<br />
partnership<br />
shares and<br />
award of<br />
matching<br />
shares (£)<br />
Value of shares conditionally awarded Value of shares released<br />
Partnership<br />
Number shares<br />
as at purchased<br />
22 August during the<br />
2010 period<br />
Matching<br />
shares<br />
conditionally<br />
awarded<br />
during the<br />
period<br />
Partnership<br />
or dividend<br />
shares<br />
released<br />
during the<br />
period<br />
Matching<br />
shares<br />
released<br />
during the<br />
period<br />
Matching<br />
shares<br />
forfeited<br />
during the<br />
period<br />
Gain on<br />
release of<br />
matching<br />
shares<br />
£000<br />
Number<br />
as at<br />
20 August<br />
<strong>2011</strong> 1<br />
Executive Directors<br />
Roger Whiteside 24.07.09 24.07.12 0.95 3,146 – – – – – – 3,146<br />
27.07.10 27.07.13 0.78 3,846 – – – – – – 3,846<br />
28.06.11 28.06.14 0.72 – 2,084 2,084 – – – – 4,168<br />
Total 6,992 11,160<br />
Steve Dando 23.01.08 23.01.11 6.37 24 – – 24 – – – –<br />
30.06.08 30.06.11 3.11 992 – – 509 – – – 483<br />
17.10.08 17.10.11 1.23 2 – – – – – – 2<br />
26.06.09 26.06.12 1.08 2,778 – – – – – – 2,778<br />
27.07.10 27.07.13 0.78 3,846 – – – – – – 3,846<br />
28.06.11 28.06.14 0.72 – 2,084 2,084 – – – – 4,168<br />
Total 7,642 11,277<br />
Mike Tye 24.07.09 24.07.12 0.95 3,146 – – – – – – 3,146<br />
27.07.10 27.07.13 0.78 3,846 – – – – – – 3,846<br />
28.06.11 28.06.14 0.72 – 2,084 2,084 – – – – 4,168<br />
Total 6,992 11,160<br />
Giles Thorley 23.01.08 23.01.11 6.37 26 – – 26 – – – –<br />
27.06.08 27.06.11 3.17 29 – – 29 – – – –<br />
30.06.08 30.06.11 3.11 966 – – 483 – 483 – –<br />
12.12.08 12.12.11 0.60 2 – – 1 – 1 – –<br />
06.03.09 06.03.12 0.36 2 – – 1 – 1 – –<br />
26.06.09 26.06.12 1.08 2,776 – – 1,388 – 1,388 – –<br />
24.07.09 24.07.12 0.95 2 – – 1 – 1 – –<br />
Total 3,803 –<br />
Phil Dutton 24.07.09 24.07.12 0.95 3,146 – – 1,573 1,573 – – –<br />
27.07.10 27.07.13 0.78 3,846 – – 1,923 1,923 – – –<br />
Total 6,992 –<br />
1<br />
31 July <strong>2011</strong> for Mike Tye.<br />
SIP award-holders were originally granted awards over ordinary shares in <strong>Punch</strong> <strong>Taverns</strong> <strong>plc</strong>. As a result of the demerger, consistent<br />
with the treatment of shareholders, individuals received an award over one Spirit share for each <strong>Punch</strong> share under award to ensure<br />
they were kept whole.<br />
Financial statements Governance<br />
Business review