REG - Safestay PLC - Director/PDMR Shareholding
19/04/2022 07:00
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RNS Number : 4974I Safestay PLC 19 April 2022
19 April 2022
Safestay plc
("Safestay", the "Company" or the "Group")
Grant and Cancellation of Options
Safestay (AIM: SSTY), the owner and operator of a brand of contemporary
hostels, announces that, following a review of director rewards and
incentives, the Remuneration Committee of the Board of Directors ("Directors")
has recommended that, given the reduction in the Company's share price, that
the existing awards of share options are no longer a reasonable incentive for
the Company's management team (the "Management Team") and Directors and should
be replaced in order to re-align the option scheme with the current share
price. The Board of Directors has approved this recommendation.
On 14 April 2022 the Company granted awards of options over a total of
4,020,121 ordinary shares of one (1) penny each in the Company ("Ordinary
Shares") under the Company's existing share option scheme (the "New Options").
The New Options are exercisable at the prices set out below on or after 1
January 2024.
A portion of the New Options, as set out below, have been awarded to replace
all existing awards of options previously granted in the same number (the "Old
Options") to the current Management Team and Directors, which were cancelled
on 14 April 2022. The holders of all of the Old Options have agreed to their
termination with immediate effect. Old Options that were previously priced
significantly above the current share price have effectively been reissued at
the current share price, with Old Options previously priced below the current
share price effectively reissued at their previous exercise price.
In addition to the replacement of the Old Options, the New Options also
include new share options granted to Paul Hingston, Chief Financial Officer,
as part of his employment package following his appointment in February 2022.
Details of the New Options are as follows:
Date of Grant Director/PDMR Position Number of New Options over Ordinary Shares granted (replacement) Number of New Options over Ordinary Shares granted (new grant) Total number of Ordinary Shares over which options held following notification
14 April 2022 Larry Lipman Chairman 1,471,221 at 15 pence per share 0 1,583,621
23,900 at 14 pence per share
51,400 at 13 pence per share
37,100 at 9 pence per share
14 April 2022 Maria Moreno Area Manager 100,000 at 15 pence per share 0 100,000
14 April 2022 Mario Di Candido Head of Revenue 287,200 at 15 pence per share 0 365,900
16,700 at 14 pence per share
36,000 at 13 pence per share
26,000 at 9 pence per share
14 April 2022 Michael Hirst Non-Executive Director 15,500 at 15 pence per share 0 29,500
3,000 at 14 pence per share
6,400 at 13 pence per share
4,600 at 9 pence per share
14 April 2022 Nuno Sacramento Chief Operating Officer 1,229,500 at 15 pence per share 0 1,369,800
29,800 at 14 pence per share
64,200 at 13 pence per share
46,300 at 9 pence per share
14 April 2022 Paul Hingston Chief Financial Officer 0 400,000 at 15 pence per share 400,000
14 April 2022 Stephen Moss Non-Executive Director 37,500 at 15 pence per share 0 71,300
7,200 at 14 pence per share
15,400 at 13 pence per share
11,200 at 9 pence per share
14 April 2022 Yogesh Ram Head of Marketing 100,000 at 15 pence per share 0 100,000
Following the grant of the New Options, the total number of options
outstanding over unissued Ordinary Shares is 4,937,389 representing
approximately 8% of the Company's issued share capital.
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.
The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Larry Lipman
2 Reason for the notification
a) Position/status Chairman
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 1,583,621
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Maria Moreno
2 Reason for the notification
a) Position/status Area Manager
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 100,000
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Mario Di Candido
2 Reason for the notification
a) Position/status Head of Revenue
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 365,900
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Michael Hirst
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 29,500
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Nuno Sacramento
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 1,369,800
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Paul Hingston
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 400,000
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Stephen Moss
2 Reason for the notification
a) Position/status Non-executive Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 71,300
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Yogesh Ram
2 Reason for the notification
a) Position/status Head of Marketing
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Safestay plc
b) LEI 213800H1MT2FZDI3HK90
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 Share options over ordinary shares of £0.01p par value
Identification code GB00BKT0J702
b) Nature of the transaction Grant of options
c) Price(s) and volume(s) Price(s) Volume(s)
n/a 100,000
d) Aggregated information N/A single transaction
- Aggregated volume
- Price
e) Date of the transaction 14 April 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A single transaction
e)
Date of the transaction
14 April 2022
f)
Place of the transaction
Outside a trading venue
Enquiries:
Safestay plc
+44 (0) 20 8815 1600
Larry Lipman
Liberum Capital Limited
(Nominated Adviser and Broker)
+44 (0) 20 3100 2000 Andrew Godber/Edward Thomas/Miquela Bezuidenhoudt
Novella
Tim Robertson
+44 (0) 20 3151 7008
Fergus Young
For more information visit our:
Website www.safestay.com (http://www.safestay.com)
Vox Markets page https://www.voxmarkets.co.uk/company/SSTY/news/
(https://www.voxmarkets.co.uk/company/SSTY/news/)
Instagram page www.instagram.com/safestayhostel
(http://www.instagram.com/safestayhostel)
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