Long Term Incentive Plan

RNS Number : 9934Q

Dalata Hotel Group PLC

03 March 2016

 

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	101,279
Dermot Crowley	58,635
Stephen McNally	58,635

No consideration was paid for the grant of the conditional share awards. The conditional share awards will normally vest on 3 March 2019, 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 75thpercentile 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	839,927	0.459%	318,168
Stephen McNally	282,611	0.154%	194,191
Dermot Crowley	252,727	0.138%	194,191

In total, 2,034,500 ordinary shares of €0.01 each in the capital of the Company representing 1.11% of the issued share capital have been awarded under the Plan.

Contacts:

Sean McKeon, Company Secretary, Dalata Hotel Group plc.                     [phone]

 

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