6 Dec 2019 12:39
6 December 2019
Elegant Hotels Group plc
("Elegant", the "Company" or the "Group")
Director/PDMR Dealing and Total Voting Rights
Elegant Hotels, the owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, today announces the exercise of share options by certain directors and employees of the Company over 2,847,282 ordinary shares of 1p each ("Ordinary Shares"). The options were issued under the Elegant Long-Term Incentive Plan and the Elegant Non-Employee Long-Term Incentive Plan and have been exercised at an exercise price of 1p each.
The details of the exercise of options by the Directors are set out below:
Initial Holding | Resultant Holding | ||||
Holder | Number of Ordinary Shares | Percentage of issued share capital | Options exercised | Number of Ordinary Shares | Percentage of issued share capital |
Simon Sherwood | 1,929,252 | 2.17% | 106,572 | 2,035,824 | 2.22% |
Sunil Chatrani | 1,849,389 | 2.08% | 798,993 | 2,648,382 | 2.89% |
Jeff Singleton | - | - | 363,491 | 363,491 | 0.40% |
Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on 9 December 2019. The new Ordinary Shares rank pari passu with the Company's existing Ordinary Shares. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), following Admission, the Company's issued and fully paid up share capital will comprise 91,663,071 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any shares in Treasury. The total number of voting rights in the Company is therefore 91,663,071.
The above figure of 91,663,071 may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the DTRs.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Simon Sherwood | ||||
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
| Elegant Hotels Group plc | ||||
b)
| LEI
| 213800D12MXLLNJ9VR70 | ||||
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, type of instrument
Identification code
|
Ordinary shares of 1p each
ISIN: GB00BWXSNY91 | ||||
b)
| Nature of the transaction
| Exercise of options | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
n/a (single transaction)
| ||||
e)
| Date of the transaction
| 6 December 2019 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Sunil Chatrani | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Executive Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Elegant Hotels Group plc | ||||
b)
| LEI
| 213800D12MXLLNJ9VR70 | ||||
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, type of instrument
Identification code
|
Ordinary shares of 1p each
ISIN: GB00BWXSNY91 | ||||
b)
| Nature of the transaction
| Exercise of options | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
n/a (single transaction)
| ||||
e)
| Date of the transaction
| 6 December 2019 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Jeff Singleton | ||||
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
| Elegant Hotels Group plc | ||||
b)
| LEI
| 213800D12MXLLNJ9VR70 | ||||
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, type of instrument
Identification code
|
Ordinary shares of 1p each
ISIN: GB00BWXSNY91 | ||||
b)
| Nature of the transaction
| Exercise of options | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
n/a (single transaction)
| ||||
e)
| Date of the transaction
| 6 December 2019 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
Enquiries:
Elegant Hotels Group plcSimon Sherwood, Non-Executive Chairman Sunil Chatrani, Chief Executive Officer Jeff Singleton, Chief Financial Officer
| +1 (246) 432 6500 |
Liberum Capital Limited (Financial adviser, nominated adviser and broker to Elegant) Clayton Bush Chris Clarke James Greenwood Edward Phillips William Hall
| +44 (0) 203 100 2222 |
Powerscourt (Financial PR to Elegant)Rob Greening Lisa Kavanagh
| +44 (0) 207 250 1446 |
NOTES TO EDITORS:
Elegant Hotels owns and operates seven luxury freehold hotels and a beachfront restaurant, Daphne's, on the island of Barbados. The Group's portfolio currently comprises 588 rooms, making it twice as large (by room number) as the closest competitor in the Barbados luxury hotel room market. Six of the seven properties are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast". The properties are all freehold, with a total aggregate plot size of approximately 23 acres and an aggregate beachfront of 2,600 feet.
Together, the Group's seven existing hotels - Colony Club, Treasure Beach, Tamarind, The House, Crystal Cove, Turtle Beach and Waves Hotel & Spa - offer styles encompassing classic and contemporary, family-friendly and adults-only.
Investor website: http://www.eleganthotelsgroup.com
Consumer website: http://www.eleganthotels.com