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On the Beach Group (OTB)

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Wednesday 10 February, 2021

On the Beach Group

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: +44 (0)20 3727 1000

 

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