Director/PDMR Shareholding

RNS Number : 0857Y

Hollywood Bowl Group plc

28 February 2017

 

Hollywood Bowl Group plc

CORRECTION: LTIP Share Awards

The following amendment has been made to the "Director/PDMR shareholding" announcement released on 28 February 2017 at 7am under RNS No. 9866X:

The title of the right hand column of the table setting out the EPS performance condition applying to the LTIP awards is amended from "% of one half of an award capable of vesting (i.e. expressed as a percentage of one-half of the total number of Shares originally subject to the Award)" to "% of award capable of vesting".

All other details remain unchanged.

The full corrected version appears below.

LTIP Share Awards

Hollywood Bowl Group plc (LSE: BOWL the "Company") announces that on Monday 27^th February 2017 its Executive Directors and PDMRs were granted the following share awards as nil-cost options over ordinary shares of £0.01 each in the Company ("Shares") under the Company's Long Term Incentive Plan ("LTIP"). The awards have been granted in accordance with the new remuneration policy adopted by the Company's shareholders at the Annual General Meeting held on Thursday 23^rd February 2017.

Director	Position	Number of Share Awards Granted
Stephen Burns	Chief Executive Officer	159,744
Laurence Keen	Chief Financial Officer	108,626
Mat Hart	Commercial Director	89,456
Melanie Dickinson	Talent Director	70,287

These awards are subject to an EPS performance condition which will be determined following the announcement of FY 2019 results, and which can be summarised as follows:

EPS - Financial Year 2019	% of award capable of vesting
13.75p	100%
Between 12.25p and 13.75p	Pro-rata on straight-line basis between 25% and 100%
12.25p	25%
Less than 12.25p	0%

The EPS measure is based on adjusted fully diluted EPS (and assuming no material changes in the Company's effective corporate tax rate). 

Further details relating to the operation of the LTIP can be found within the 2016 Annual report and accounts which are available on the Company's website.

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the LTIP.

For further information please contact:

Hollywood Bowl Group Steve Burns, Chief Executive Officer Laurence Keen, Chief Financial Officer Mat Hart, Commercial Director	via Tulchan Communications
Tulchan Communications James Macey White David Allchurch Will Smith	[phone]

1.	Details of PDMR / person closely associated with them ('CAP')
a)	Name	Stephen Burns
2.	Reason for the notification
a)	Position / status	Chief Executive Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hollywood Bowl Group plc
b)	LEI	213800XB8YZNGJYDEZ97
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Ordinary shares of £0.01 each ISIN: GB00BD0NVK62
b)	Nature of the transaction	Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 159,744
d)	Aggregated information Aggregated volume Price	Volume: 159,744 Price: £nil
e)	Date of the transaction	27 February 2017
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ('CAP')
a)	Name	Laurence Keen
2.	Reason for the notification
a)	Position / status	Chief Financial Officer
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hollywood Bowl Group plc
b)	LEI	213800XB8YZNGJYDEZ97
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Ordinary shares of £0.01 each ISIN: GB00BD0NVK62
b)	Nature of the transaction	Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 108,626
d)	Aggregated information Aggregated volume Price	Volume: 108,626 Price: £nil
e)	Date of the transaction	27 February 2017
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ('CAP')
a)	Name	Mat Hart
2.	Reason for the notification
a)	Position / status	Commercial Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hollywood Bowl Group plc
b)	LEI	213800XB8YZNGJYDEZ97
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Ordinary shares of £0.01 each ISIN: GB00BD0NVK62
b)	Nature of the transaction	Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 89,456
d)	Aggregated information Aggregated volume Price	Volume: 89,456 Price: £nil
e)	Date of the transaction	27 February 2017
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ('CAP')
a)	Name	Melanie Dickinson
2.	Reason for the notification
a)	Position / status	Talent Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Hollywood Bowl Group plc
b)	LEI	213800XB8YZNGJYDEZ97
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument and identification code	Ordinary shares of £0.01 each ISIN: GB00BD0NVK62
b)	Nature of the transaction	Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.
c)	Price(s) and volume(s)	Price(s) Volume(s) £nil 70,287
d)	Aggregated information Aggregated volume Price	Volume: 70,287 Price: £nil
e)	Date of the transaction	27 February 2017
f)	Place of the transaction	Outside a trading venue

 

END

 

 

DSHBXGDDLGDBGRI