4 May 2020 07:00
Hostelworld Group plc ("Hostelworld" or "the Company")
04 May 2020
Grant of Awards under the Long-Term Incentive Plan
LEI: 213800OC94PF2D675H41
Hostelworld announces that the following grants of nil-cost options were made to Directors of the Company on 2 May 2020, under the terms of the Company's Long-Term Incentive Plan.
Director | Position | No. of nil-cost options granted |
Gary Morrison | Chief Executive Officer | 771,900 |
TJ Kelly | Chief Financial Officer | 528,700 |
No consideration was paid for the grant of the awards.
The awards will vest in three years' time, subject to continued employment and the satisfaction of performance conditions. 75% of the award will be subject to the achievement of targets linked to Hostelworld's total shareholder return ("TSR"), and the remaining 25% will be subject to adjusted earnings per share ("EPS") targets. Full details of the targets are set out below:
Annualised TSR of the Company over the three-year period to 01 May 2023 (75% of the total award) | Level of vesting |
Less than 5% p.a. | 0% |
5% p.a. | 25% |
15% p.a. or above | 100% |
Between 5% and 15% p.a. | Straight-line vesting between 25% and 100% |
Adjusted EPS for the financial year ending 31 December 2022 (25% of the total award) | Level of vesting |
Less than 0c | 0% |
0c | 25% |
9c or above | 100% |
Between 0c and 9c | Straight-line vesting between 25% and 100% |
The Notification of Dealing form provided in accordance with the requirements of the Market Abuse Regulation is set out below.
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| 1) GARY MORRISON 2) TJ KELLY | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| 1) GARY MORRISON - Director/Chief Executive Officer 2) TJ KELLY- Director/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
| Hostelworld Group PLC
| |||
b)
| LEI
|
213800OC94PF2D675H41 | |||
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 €0.01 each
ISIN: GB00BYYN4225 | |||
b)
| Nature of the transaction
| Grant of Nil cost options to subscribe for ordinary shares in Hostelworld Group plc, made in accordance with the Hostelworld Group plc Long Term Incentive Plan.
| |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
1)€0.00 2)€0.00
| 1) 771,900 2) 528,700 | ||||
| |||||
d)
| Aggregated information | N/A | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 02 May 2020 | |||
f)
| Place of the transaction
| N/A Outside a trading venue
| |||
g) | Additional Information | None
| |||
Contacts: Hostelworld Group plcJohn Duggan, Company SecretaryTel: +353 (0) 1 498 0700
Hostelworld (HSW)