Long Term Incentive Plan

RNS Number : 4095H

Dalata Hotel Group PLC

18 May 2014

 

DALATA HOTEL GROUP PLC

LONG TERM INCENTIVE PLAN - CONDITIONAL GRANT OF SHARES

Dalata Hotel Group plc ("Dalata") announces the following directors of the Company were granted conditional share awards over ordinary shares of €0.01 each in the capital of the Company ('shares') under the Dalata Hotel Group plc Long Term Incentive Plan ('the Plan'). 

Details of the directors and the number of conditional share awards granted to them under the Plan are as follows:

Director	Number of conditional shares awarded
Pat McCann	128,000
Dermot Crowley	80,000
Stephen McNally	80,000

No consideration was paid for the grant of the conditional share awards.  The conditional share awards will normally vest on 18^th0March 2017, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the total shareholder return (TSR) performance condition over the performance period as set out below. 

	Total Shareholder Return	Proportion of award vesting
1	Equal to the median TSR performance of the comparator companies.	25%
2	Equal to or greater than the 75th percentile TSR performance of the comparator companies.	100%
3	For TSR performance between 1 and 2, above	Award shall vest increasing on a linear scale

Following the grant of the conditional share awards these directors hold the following interests in the issued share capital of the Company.

Director	Beneficial interest in the shares of the Company	% of the issued share capital of the Company	Total number of conditional share awards held
Pat McCann	627,200	0.51%	128,000
Dermot Crowley	80,000	0.06%	80,000
Stephen McNally	167,218	0.14%	80,000

In total, 754,154 ordinary shares of €0.01 each in the capital of the Company representing 0.6% of the issued share capital have been awarded under the Plan.

Contacts:

Sean McKeon, CFO, Dalata Hotel Group p.l.c.                                         [phone]

Anthony Farrell, Davy Corporate Finance (Nomad)                                    + 353 1 6796363

 

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