Holdings of PDMRs
Updated : 07:07
12th November 2020
PPHE Hotel Group Limited
(the "Company")
Holdings of PDMRs
PPHE Hotel Group Limited, an international hospitality company which owns and develops hotels and resorts, operates the Park Plaza® brand in EMEA and owns the art'otel® brand, today announces that
during these challenging times, the Group is focussed on preparing for the hoped recovery and ensuring it is properly equipped to take advantage of the resumption of less volatile business conditions across its markets in 2021. A key factor in this regard is the Group's retention of its key talent particularly in light of anticipated pressure in the market on retention and recruiting.
The Group acted swiftly and effectively to preserve its position by taking measures to conserve cash, reduce overhead costs and realign expenditure in balance with demand, so far as reasonably possible. The Group undertook fundamental changes to its workforce through the use of government employment schemes, reductions in hours, voluntary payroll reductions and, unavoidably, through forgoing contract renewals, redundancies and deferral of incentives.
The Remuneration Committee of the Board has approved two plans during these unusual times aimed at long term retention of key employees and preserving the cashflow at this current time.
Salary Sacrifice Option Plan
The Group has offered a scheme to its key employees the aim of which is to preserve cashflow whilst ensuring retention. Under this scheme, employees agree to a reduction in their base salary for a further 12 months in consideration for nil cost options.
The following PDMRs were granted options under the Plan over the number of ordinary shares of no par value in the Company with a nil exercise price as set out in the table below.
Name | Position | Number of ordinary shares in the Company |
Daniel Kos | Chief Financial Officer | 4,308 |
Greg Hegarty | Deputy CEO & COO | 4,308 |
Inbar Zilberman | Chief Corporate & Legal Officer | 3,846 |
Long Term Incentive Plan
The current 2020 long-term incentive plan has been amended to include the grant of options at market value aimed at the Leadership Team and key employees. The following PDMRs of the Company were granted options over the number of ordinary shares of no par value in the Company as set out in the table below at an exercise price of £13 per share (being the middle market quotation of an ordinary share as derived from the Daily Official List of the London Stock Exchange for the dealing day immediately preceding the award date).
Name | Position | Number of ordinary shares in the Company |
Daniel Kos | Chief Financial Officer | 100,000 |
Greg Hegarty | Deputy CEO & COO | 100,000 |
Inbar Zilberman | Chief Corporate & Legal Officer | 100,000 |
All options were granted under the Company's Executive Incentive Plan 2020.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide additional detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Daniel Kos | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Financial Officer | ||||||
b) | Initial notification/Amendment | This is an initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | PPHE Hotel Group Limited | ||||||
b) | LEI | n/a | ||||||
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 | Grant of share options
GG00B1Z5FH87/PPH | ||||||
b) | LEI | n/a | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information |
| ||||||
e) | Date of the transaction | 11 November 2020 | ||||||
f) | Place of the transaction | London | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Greg Hegarty | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Deputy Chief Executive Officer & Chief Operating Officer | ||||||
b) | Initial notification/Amendment | This is an initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | PPHE Hotel Group Limited | ||||||
b) | LEI | n/a | ||||||
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 | Grant of share options
GG00B1Z5FH87/PPH | ||||||
b) | LEI | n/a | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information |
| ||||||
e) | Date of the transaction | 11 November 2020 | ||||||
f) | Place of the transaction | London | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Inbar Zilberman | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Corporate and Legal Officer | ||||||
b) | Initial notification/Amendment | This is an initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | PPHE Hotel Group Limited | ||||||
b) | LEI | n/a | ||||||
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 | Grant of share options
GG00B1Z5FH87/PPH | ||||||
b) | LEI | n/a | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information |
| ||||||
e) | Date of the transaction | 11 November 2020 | ||||||
f) | Place of the transaction | London | ||||||
Enquiries:
PPHE Hotel Group Limited |
|
Robert Henke, Executive Vice President Commercial Affairs | Tel: +31 (0)20 717 8600 |
Hudson Sandler |
|
Wendy Baker/ Lucy Wollam | Tel: +44 (0)20 7796 4133 pphe@hudsonsandler.com |
Notes to Editors
PPHE Hotel Group is an international hospitality real estate company, with a £1.7 billion portfolio (valued as at summer of 2019) by Savills and Zagreb nekretnine Ltd of primarily prime freehold and long leasehold assets in Europe.
Through its subsidiaries, jointly controlled entities and associates it owns, co-owns, develops, leases, operates and franchises hospitality real estate. Its primary focus is full-service upscale, upper upscale and lifestyle hotels in major gateway cities and regional centres, as well as hotel, resort and campsite properties in select resort destinations.
PPHE Hotel Group benefits from having an exclusive and perpetual licence from the Radisson Hotel Group, one of the world's largest hotel groups, to develop and operate Park Plaza® branded hotels and resorts in Europe, the Middle East and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the art'otel® brand and its Croatian subsidiary owns, and operates under, the Arena Hotels & Apartments® and Arena Campsites® brands.
PPHE Hotel Group is a Guernsey incorporated company with shares listed on the London Stock Exchange. PPHE Hotel Group also holds a controlling ownership interest in Arena Hospitality Group, whose shares are listed on the Prime market of the Zagreb Stock Exchange.
Company websites
www.pphe.com
www.arenahospitalitygroup.com
For reservations
www.parkplaza.com
www.artotels.com
www.arenahotels.com
www.arenacampsites.com
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