PDMR LTIP AWARDS

RNS Number : 4258D

On the Beach Group PLC

02 March 2022

 

2 March 2022

On the Beach Group plc

("On the Beach", the "Company" or the "Group")

PDMR LTIP AWARDS

The notifications below are all in accordance with the requirements of Article 19 (3) of the EU Market Abuse Regulation 596/2014 and the dealings were in respect of ordinary shares of 1 pence each in the share capital of On the Beach Group plc.

On 25 February 2022, awards over shares (the "Awards") were made under the On the Beach Group plc Long Term Incentive Plan (the "Plan"), consequently, the share interests of the under-noted directors and persons discharging managerial responsibility have changed following the making of the Awards. 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 25 February 2022.

The Awards, made for nil consideration, are nil-cost options established in accordance with the rules of the Plan. Vesting is subject to total shareholder return ("TSR") targets measured over the three year period commencing on the date of grant, and Total Transaction Value ("TTV") targets measured over the final financial year of the performance period ending 30 September 2024.

Director/PDMR	Role	Number of shares over which Awards made
Simon Cooper	Chief Executive Officer	84,343
Shaun Morton	Chief Financial Officer	214,961
Adam Hansen	Director of Corporate Development	74,044
Bill Allen	Chief Supply Officer	83,112
Kirsteen Vickerstaff	General Counsel and Company Secretary	66,638
Oliver Garner	Chief Executive Officer, Classic Collection Holidays and Classic Package Holidays	103,572
Stefan Nordin	Chief Technology and Product Officer	110,666
Zoe Harris	Chief Marketing Officer	118,111

These awards are subject to the following performance targets:

Measure	Description	Weighting	Threshold	Target	Maximum
Absolute TSR	Annualised absolute TSR	25 per cent	5%	N/A	15%
Relative TSR	Ranking of the Company's TSR relative to the constituents of the FTSE All Share Travel & Leisure Index	25 per cent	Median	N/A	Upper quartile
Group TTV	Total transaction value of confirmed orders across all brands in the Group	25 per cent	£798.9m	£876.8m	£958.3m
Classic TTV	Total transaction value of confirmed orders made via Classic Collection Holidays and Classic Package Holidays businesses	12.5 per cent	£101.4m	£117.0m	£133.7m
Long Haul TTV	Total transaction value of confirmed orders for long haul bookings across all brands in the Group	12.5 per cent	£48.5m	£59.9m	£72.5m

25 per cent of the Awards will vest for threshold performance, increasing on a straight line basis to 62.5 per cent for target performance (where applicable) and to 100 per cent for maximum performance. Further details relating to the operation of the LTIP can be found within the 2021 Annual Report and Accounts which is available on the Company's website.

There were 165,883,705 shares in issue at the time of this notification.

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	SIMON COOPER SHAUN MORTON ADAM HANSEN BILL ALLEN KIRSTEEN VICKERSTAFF OLIVER GARNER STEFAN NORDIN ZOE HARRIS
2.	Reason for the notification
a)	Position / status	SIMON COOPER - CHIEF EXECUTIVE OFFICER SHAUN MORTON - CHIEF FINANCIAL OFFICER ADAM HANSEN - DIRECTOR OF CORPORATE DEVELOPMENT BILL ALLEN - CHIEF SUPPLY OFFICER KIRSTEEN VICKERSTAFF - GENERAL COUNSEL AND COMPANY SECRETARY OLIVER GARNER - CHIEF EXECUTIVE OFFICER, CLASSIC COLLECTION HOLIDAYS AND CLASSIC PACKAGE HOLIDAYS STEFAN NORDIN - CHIEF TECHNOLOGY AND PRODUCT OFFICER ZOE HARRIS - CHIEF MARKETING OFFICER
b)	Initial notification / amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	On the Beach Group plc
b)	LEI	213800K51Y9BZY7F9R69
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 Identification code	Ordinary shares of 1 pence GB00BYM1K758
b)	Nature of the transaction	Awards made pursuant to the On the Beach Group plc Long Term Incentive Plan ("LTIP")
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil SIMON COOPER - 84,343 Nil SHAUN MORTON - 214,961 Nil ADAM HANSEN - 74,044 Nil BILL ALLEN - 83,112 Nil KIRSTEEN VICKERSTAFF - 66,638 Nil OLIVER GARNER - 103,572 Nil STEFAN NORDIN - 110,666 Nil ZOE HARRIS - 118,111
d)	Aggregated information -  Aggregated volume -  Price	N/A
e)	Date of the transaction	25 February 2022
f)	Place of the transaction	Outside a trading venue

For further information:

On the Beach Group plc Kirsteen Vickerstaff, Company Secretary	via FTI Consulting
FTI Consulting Alex Beagley Fiona Walker Sam Macpherson Rafaella de Freitas	Tel: [phone]

 

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