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Last checked at 
13 Feb 2019 13:49
13 February 2019
ON THE BEACH GROUP PLC
Symbol: OTB
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 12 February 2019, 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 performance conditions (adjusted earnings per share ("EPS") (70% of each Award) and total shareholder return ("TSR") targets (30% of each Award)) and measured over three financial years commencing on 1 October 2018 and three years commencing on the award date respectively.
Director/PDMR | Role | Number of shares over which Awards made |
Simon Cooper | Chief Executive Officer | 41,087 |
Paul Meehan | Chief Financial Officer | 124,874 |
Bill Allen | Chief Supply Officer | 34,239 |
Oliver Garner | Chief International Officer | 34,239 |
Stefan Nordin | Chief Technology Officer | 53,373 |
Kirsteen Vickerstaff | General Counsel and Company Secretary | 8,459 |
These awards are subject to both EPS and TSR targets measured over a three year performance period and are summarised below:
Performance tier | Cumulative EPS1 over the three financial years FY19, FY20 and FY21 | % of EPS element capable of vesting |
Below threshold | 0% | |
Threshold | 77.3 pence | 25% |
Maximum | 94.5 pence or above | 100% |
Between threshold and maximum | Between 77.3 and 94.5 pence | 25%-100% pro-rata on a straight line basis |
1Cumulative EPS means the sum of the actual EPS for FY19, FY20 and FY21.
Performance tier | Annualised TSR over the three year performance period | % of TSR element capable of vesting |
Below threshold | 0% | |
Threshold | 8% | 25% |
Maximum | 15% | 100% |
Between threshold and maximum | Between 8% and 15% | 25%-100% pro-rata on a straight line basis |
There were 131,144,234 shares in issue at the time of this notification.
The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | SIMON COOPER
PAUL MEEHAN
BILL ALLEN
OLIVER GARNER
STEFAN NORDIN
KIRSTEEN VICKERSTAFF | ||||
2. | Reason for the notification | |||||
a) | Position / status | SIMON COOPER - CHIEF EXECUTIVE OFFICER PAUL MEEHAN - CHIEF FINANCIAL OFFICER BILL ALLEN - CHIEF SUPPLY OFFICER OLIVER GARNER - CHIEF INTERNATIONAL OFFICER STEFAN NORDIN - CHIEF TECHNOLOGY OFFICER KIRSTEEN VICKERSTAFF - GENERAL COUNSEL AND COMPANY SECRETARY | ||||
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) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 12 February 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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