PRTY Partygaming

    RNS Number : 5440F
  PartyGaming Plc
  10 October 2008
   



    10 October 2008

    PartyGaming Plc
    ("PartyGaming", the "Company")

    Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons

    In accordance with PartyGaming's long-term incentive plans for Executive Directors that were approved by the Company's shareholders on
21 March 2007, the following awards over the Company's ordinary shares of 0.015 pence each ("Shares") have today been granted to the
Company's Chief Executive Officer and Managing Director:


    PartyGaming Plc Executive Share Option Plan ("ESOP")

    Under the ESOP Jim Ryan, Chief Executive Officer, has been awarded an option over 645,100 Shares and John O'Malia, Managing Director,
has been awarded an option over 274,100 Shares. These options vest subject to the growth in the Company's Clean Earnings per Share equalling
or exceeding 15% per annum in the three year period from 1 July 2008 to 30 June 2011. Each option is exercisable at 155.0 pence per Share
and has been awarded at nil-cost. Unless exercised following the satisfaction of the aforementioned performance condition, these options
will lapse on 10 October 2018. These are the first awards to be granted under the ESOP to Mr Ryan and Mr O'Malia.  


    PartyGaming Plc Performance Share Plan ("PSP")

    Under the PSP Mr Ryan has been granted an award over 645,100 Shares and Mr O'Malia has been granted an award over 274,100 Shares. These
awards vest subject to the achievement of a total shareholder return ("TSR") performance target over the 3 year period from 1 July 2008 to
30 June 2011 compared to the median TSR of a sector comparator group. The threshold for vesting, at which 25% will vest, will be the TSR
equalling the median of the comparator group, rising on a straight line basis to 100% vesting if the Company's TSR exceeds the median by 10%
per annum calculated over the above-mentioned performance period. Each award has been granted and is exercisable at nil-cost. These PSP
awards vest automatically if and when the Company's Remuneration Committee determines the aforementioned performance condition has been
satisfied. This is the first PSP award to be granted to Mr Ryan. This is the second PSP award to be granted to Mr O'Malia, who received an
award over 39,272 Shares in 2007 prior to being appointed to the Board of Directors. 


    Contacts:

    PartyGaming Plc                                         +350 200 78700
    Robert Hoskin, Company Secretary



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The company news service from the London Stock Exchange
 
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