REG - On the Beach Group - PDMR LTIP AWARDS

On Beach groupAnnouncement

02/03/2022 15:30

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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  103,572
                       Holidays

 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      25 per cent    Median     N/A       Upper quartile
                Share Travel & Leisure Index
 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        12.5 per cent  £101.4m    £117.0m   £133.7m

              Holidays and Classic Package Holidays businesses

 Long Haul TTV  Total transaction value of confirmed orders for long haul bookings across all  12.5 per cent  £48.5m     £59.9m    £72.5m
                brands in the Group

 

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  Ordinary shares of 1 pence

     Identification code                      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                   N/A

     -     Aggregated volume

     -     Price
 e)  Date of the transaction                  25 February 2022
 f)  Place of the transaction                 Outside a trading venue

 

 

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                    via FTI Consulting

 Kirsteen Vickerstaff, Company Secretary

 FTI Consulting                            Tel: +44 (0)20 3727 1000

 Alex Beagley

 Fiona Walker

 Sam Macpherson

 Rafaella de Freitas

 

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