PDMR LTIP AWARDS

RNS Number : 6155O

On the Beach Group PLC

10 February 2021

 

10 February 2021

On the Beach Group plc

("On the Beach" 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 5 February 2021, 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, made for nil consideration, are nil-cost options established in accordance with the rules of the Plan and vesting is subject to adjusted earnings per share ("EPS") (70% of each Award) and total shareholder return ("TSR") targets (30% of each Award)), measured over the final financial year of the performance period ending 30 September 2023 and over the three year period commencing on the date of grant respectively.

Director/PDMR	Role	Number of shares over which Awards made
Simon Cooper	Chief Executive Officer	84,861
Shaun Morton	Chief Financial Officer	204,918
Adam Hansen	Director of Corporate Development	73,770
Bill Allen	Chief Supply Officer	83,627
Kirsteen Vickerstaff	General Counsel and Company Secretary	53,279
Oliver Garner	Chief Executive Officer, Classic Collection Holidays and Classic Package Holidays	83,627
Stefan Nordin	Chief Technology and Product Officer	111,352
Zoe Harris	Chief Marketing Officer	118,852

These awards are subject to both EPS and TSR targets measured over a three year performance period and are summarised below:

Adjusted EPS for the financial year ending 30 September 2023	% of EPS element capable of vesting
Below threshold: < 17.27 pence	0%
Threshold: 17.27 pence	25%
Maximum: 23.37 pence or above	100%
Between 17.27 and 23.37 pence	25%-100% pro-rata on a straight line basis

Annualised TSR over the three year performance period	% of TSR element capable of vesting
Below threshold: <8%	0%
Threshold: 8%	25%
Maximum: 15%	100%
Between 8% and 15%	25%-100% pro-rata on a straight line basis

There were 157,474,962 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 - 84,861 Nil SHAUN MORTON - 204,918 Nil ADAM HANSEN - 73,770 Nil BILL ALLEN - 83,627 Nil KIRSTEEN VICKERSTAFF - 53,279 Nil OLIVER GARNER - 83,627 Nil STEFAN NORDIN - 111,352 Nil ZOE HARRIS - 118,852
d)	Aggregated information -   Aggregated volume -   Price	N/A
e)	Date of the transaction	5 February 2021
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 Holly Ayres	Tel: [phone]

 

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