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PDMR Transaction: Grant of Buyout Award to CFO

3 Jul 2023 14:03

RNS Number : 7904E
On the Beach Group PLC
03 July 2023
 

 

3 July 2023

 

On The Beach Group plc

 

PDMR Transaction: Grant of Buyout Award to Chief Financial Officer

 

On The Beach Group plc ("On The Beach" or the "Company") announces that on 30 June 2023, Jon Wormald, the Company's Chief Financial Officer, was granted a buyout award following his recent appointment. The buyout award granted is of equivalent value to awards granted to him by his previous employer, which he forfeited upon commencing employment with On The Beach.

The buyout award has been delivered in the form of a nil cost option over ordinary shares in the Company, granted under the On The Beach Group plc Long Term Incentive Plan 2023 ("Plan"), and is subject to the malus and clawback provisions of the Plan, as well as holding periods in line with those applicable to the forfeited awards.

The Notification of Dealing Form set out below is provided in accordance with the requirements of the UK Market Abuse Regulation.

 

Enquiries:

 

On The Beach Group plc via FTI Consulting

Shaun Morton, Chief Executive Officer

Jon Wormald, Chief Financial Officer

 

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

Alex Beagley

Fiona Walker

Sam Macpherson

Rafaella de Freitas

 

1.

Details of the PDMR / person closely associated

a)

Name

Jon Wormald

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

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, type of instrument

Identification code

Ordinary shares of 1p each

 

GB00BYM1K758

b)

Nature of the transaction

Grant of a nil cost option under the On The Beach Group plc Long Term Incentive Plan 2023

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

73,274

 

d)

Aggregated information

N/A

e)

Date of the transaction

30 June 2023

f)

Place of the transaction

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
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