RNS Number : 4095H
Dalata Hotel Group PLC
18 May 2014
DALATA HOTEL GROUP PLC
LONG TERM INCENTIVE PLAN - CONDITIONAL GRANT OF SHARES
Dalata Hotel Group plc ("Dalata") announces the following directors of the Company were granted conditional share awards over ordinary shares of €0.01 each in the capital of the Company ('shares') under the Dalata Hotel Group plc Long Term Incentive Plan ('the Plan').
Details of the directors and the number of conditional share awards granted to them under the Plan are as follows:
Director
Number of conditional shares awarded
Pat McCann
128,000
Dermot Crowley
80,000
Stephen McNally
80,000
No consideration was paid for the grant of the conditional share awards. The conditional share awards will normally vest on 18th0March 2017, being the third anniversary of the date of grant, subject to continued employment with the Company and satisfaction of the total shareholder return (TSR) performance condition over the performance period as set out below.
Total Shareholder Return
Proportion of award vesting
1
Equal to the median TSR performance of the comparator companies.
25%
2
Equal to or greater than the 75th percentile TSR performance of the comparator companies.
100%
3
For TSR performance between 1 and 2, above
Award shall vest increasing on a linear scale
Following the grant of the conditional share awards these directors hold the following interests in the issued share capital of the Company.
Director
Beneficial interest in the shares of the Company
% of the issued share capital of the Company
Total number of conditional share awards held
Pat McCann
627,200
0.51%
128,000
Dermot Crowley
80,000
0.06%
80,000
Stephen McNally
167,218
0.14%
80,000
In total, 754,154 ordinary shares of €0.01 each in the capital of the Company representing 0.6% of the issued share capital have been awarded under the Plan.
Contacts:
Sean McKeon, CFO, Dalata Hotel Group p.l.c. +353 1 2069400
Anthony Farrell, Davy Corporate Finance (Nomad) + 353 1 6796363
This information is provided by RNS
The company news service from the London Stock Exchange
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