LTIP Share Awards

RNS Number : 8783A

Hollywood Bowl Group plc

07 February 2022

 

Hollywood Bowl Group plc

LTIP Share Awards

Hollywood Bowl Group plc (LSE: BOWL   the "Company") announces that on 4 February 2022 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 remuneration policy adopted by the Company's shareholders at the Annual General Meeting held on Friday 28^th January 2022.

Director	Position	Number of Share Awards Granted
Stephen Burns	Chief Executive Officer	164,015
Laurence Keen	Chief Financial Officer	106,503
Melanie Dickinson	Chief People Officer	63,643
Mat Hart	Chief Marketing and Technology Officer	79,554
Darryl Lewis	Chief Operating Officer	49,721

These awards are subject to the following performance targets:

Measure	Description	Weighting	Threshold	Target	Max
Adjusted EPS1	Adjusted EPS for the final year of the performance period - FY2024	70%	14.65p (25% payout)	15.42p (62.5% payout)	16.19p (100% payout)
Return on centre invested capital	20% return on all centre invested capital (refurbs and new centres)	10%	N/A	20% return (100% payout)	N/A
Emissions ratio for Scope 1 and Scope 2	Intensity ratio (IR) of under 100	10%		IR under 100 (100% payout)
Team member development	5% of team members progressed through internal development programmes	10%	N/A	5% (100% payout)	N/A

¹ Adjusted EPS is defined as stated in the Group's accounts and is subject to such adjustments as the Board, in its discretion, determines are fair and reasonable. Vesting on a straight-line basis between threshold and target, and target and max performance.

Subject to performance against the targets above, the awards will vest three years after grant and will be subject to a further two-year holding period. Further details relating to the operation of the LTIP can be found within the 2021 Annual report and accounts which are available on the Company's website.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, provide further detail.

For further information please contact :

Hollywood Bowl Group Stephen Burns, Chief Executive Officer Laurence Keen, Chief Financial Officer Mathew Hart, Chief Marketing and Technology Officer	via Tulchan Communications
Tulchan Communications James Macey White Elizabeth Snow Laura Marshall	[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 164,015
d)	Aggregated information Aggregated volume Price	Volume: 164,015 Price: £nil
e)	Date of the transaction	4 February 2022
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 106,503
d)	Aggregated information Aggregated volume Price	Volume: 106,503 Price: £nil
e)	Date of the transaction	4 February 2022
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	Chief People 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 63,643
d)	Aggregated information Aggregated volume Price	Volume: 63,643 Price: £nil
e)	Date of the transaction	4 February 2022
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ('CAP')
a)	Name	Mathew Hart
2.	Reason for the notification
a)	Position / status	Chief Marketing and Technology 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 79,554
d)	Aggregated information Aggregated volume Price	Volume: 79,554 Price: £nil
e)	Date of the transaction	4 February 2022
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ('CAP')
a)	Name	Darryl Lewis
2.	Reason for the notification
a)	Position / status	Chief Operating 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 49,721
d)	Aggregated information Aggregated volume Price	Volume: 49,721 Price: £nil
e)	Date of the transaction	4 February 2022
f)	Place of the transaction	Outside a trading venue

 

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