Last checked at 17 Dec 2008 15:57
Holidaybreak plc
Director/PDMR Shareholding
Holidaybreak plc ("the Company") announces that on 16 December 2008, conditional allocations of ordinary shares of 5p each in the Company were made under the terms of the Holidaybreak plc 2006 Long Term Incentive Plan ("LTIP") to the Directors of the Company as follows:
| Director | EPS shares | TSR shares | Total number of shares in conditional allocation |
| Carl Michel | 56,875 | 24,375 | 81,250 |
| Robert Baddeley | 38,500 | 16,500 | 55,000 |
| Nicholas Cust | 35,000 | 15,000 | 50,000 |
| Martin Davies | 32,813 | 14,062 | 46,875 |
| Simon Tobin | 30,625 | 13,125 | 43,750 |
| Steven Whitfield | 29741 | 12,746 | 42,487 |
The percentage of the allocation of LTIP awards eventually to vest is dependent on the satisfaction of performance criteria over a three-year performance period ending 30 September 2011:
70% of the shares (EPS shares) will be subject to a performance condition based on the Company's absolute EPS at the end of the three financial years*.
30% of the shares (TSR shares) will be determined by the Company's Total Shareholder Return (TSR) performance relative to the other companies comprising the FTSE 250 (excluding investment companies)**.
The conditional allocations shown above represent the maximum potential award possible if all performance criteria are met at the end of the three-year performance period. If and to the extent that the performance criteria are met at the end of the three-year performance period, the relevant number of shares will be transferred to executives.
* The maximum allocation of EPS shares only vests if the Company's EPS exceeds 60p at the end of the three-year period. No shares vest if the EPS is less than 50p. Between 50p and 60p shares vest on a scale from 30% to 100%.
** The maximum allocation of TSR shares only vests if the Company's TSR over the performance period is ranked in the upper quartile in the comparator group. No shares vest if the Company's TSR over the performance period is ranked below median in the comparator group. Between median and upper quartile in the comparator group, shares vest on a scale from 30% to 100%.
In addition, Carl Michel was awarded a maximum potential award (if all performance criteria are met at the end of the three-year performance period) over 5,297 shares (Matching Shares) by way of matching awards in relation to investment made by Carl Michel under the Rules of the Plan. The maximum allocation of Matching Shares only vests if the Company's EPS is equal to or exceeds 60p at the end of the three-year period. No shares vest if EPS is below 50p. Between 50p and 60p the Matching Shares vest on a scale from 50% to 100%.
Following the above allocations the directors have notified their interests in the share capital of the Company in accordance with Disclosure Rule 3.1.2 (R) as follows:
| Director | No. of shares | No. of options | No. of shares in conditional allocations under 2006 LTIP | No. of shares in conditional matching allocations under 2006 LTIP |
| Carl Michel | 22,000 | 1,623 | 188,872 | 21,381 |
| Robert Baddeley | 40,000 | 76,556 | 118,826 | nil |
| Nicholas Cust | 8,367 | 84,239 | 107,800 | nil |
| Martin Davies | 23,208 | 2,361 | 74,591 | 6,929 |
| Simon Tobin | Nil | 73,188 | 95,748 | nil |
| Steven Whitfield | 16,890 | 39,945 | 92,741 | nil |