LTIP Share Awards

RNS Number : 6260O
Hollywood Bowl Group plc
01 February 2023
 

Hollywood Bowl Group plc

 

LTIP Share Awards

 

Hollywood Bowl Group plc (LSE: BOWL   the "Company") announces that on 31 January 2023 its Executive Directors and PDMRs were granted the following share awards as nil-cost options over ordinary shares of £0.01 each in the Company ("Shares") under the Company's Long Term Incentive Plan ("LTIP"). The awards have been granted in accordance with the remuneration policy adopted by the Company's shareholders at the Annual General Meeting held on Friday 28th January 2022.

 

  Director

Position

Number of Share Awards Granted

Stephen Burns

Chief Executive Officer

170,550

Laurence Keen

Chief Financial Officer

111,777

Melanie Dickinson

Chief People Officer

66,179

Mat Hart

Chief Marketing and Technology Officer

82,724

Darryl Lewis

Chief Operating Officer

55,285

 

These awards are subject to the following performance targets:

 

Measure

Description

Weighting

Threshold

Target

Max

Adjusted EPS1,2

Adjusted EPS for the final year of the performance period - FY2025

 

70%

18.11p

(25% payout)

19.06p

(62.5% payout)

20.01p

(100% payout)

Return on centre invested capital2

20% return on all centre invested capital (refurbs and new centres)

 

10%

18% return

(50% payout)

20% return

(75% payout)

22% return

(100% payout)

Emissions ratio for Scope 1 and Scope 22

 

Intensity ratio (IR) of under 100

10%

IR at 58

(50% payout)

IR at 55

(75% payout)

IR at 50

(100% payout)

Team member development2

 

5% of team members progressed through internal development programmes

10%

4%

(50% payout)

5%

(75% payout)

6%

(100% payout)

1 Adjusted EPS is defined as stated in the Group's accounts and is subject to such adjustments as the Board, in its discretion, determines are fair and reasonable.

2 Vesting on a straight-line basis between threshold and target, and target and max performance.

Subject to performance against the targets above, the awards will vest three years after grant and will be subject to a further two-year holding period. Further details relating to the operation of the LTIP can be found within the 2022 Annual report and accounts which are available on the Company's website.

 

The notifications below, made in accordance with Article 19 of the UK Market Abuse Regulation, provide further detail.

 

For further information please contact :

 

Hollywood Bowl Group

Steve Burns, Chief Executive Officer

Laurence Keen, Chief Financial Officer

Mat Hart, Chief Marketing and Technology Officer  

via Tulchan Communications

 

 

 

 

Tulchan Communications

Will Palfreyman

James Macey White

Laura Marshall

+44 (0) 207 353 4200

 

 

 

 

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Stephen Burns

 

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

Hollywood Bowl Group plc

b)

LEI

213800XB8YZNGJYDEZ97

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 and identification code

 

Ordinary shares of £0.01 each

 

ISIN: GB00BD0NVK62

b)

Nature of the transaction

 

Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

 

c)

 

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

£nil

170,550


d)

Aggregated

information

Aggregated volume

Price

 

 

Volume: 170,550

 

Price: £nil

e)

Date of the

transaction

 

31 January 2023

f)

Place of the

transaction

 

Outside a trading venue

 

 

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Laurence Keen

 

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

Hollywood Bowl Group plc

b)

LEI

213800XB8YZNGJYDEZ97

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 and identification code

 

Ordinary shares of £0.01 each

 

ISIN: GB00BD0NVK62

b)

Nature of the transaction

 

Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

 

c)

 

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

£nil

111,777


d)

Aggregated

information

Aggregated volume

Price

 

 

Volume: 111,777

 

Price: £nil

e)

Date of the

transaction

 

31 January 2023

f)

Place of the

transaction

 

Outside a trading venue

 

 

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Melanie Dickinson

 

2.

Reason for the notification

a)

Position / status

Chief People Officer

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Hollywood Bowl Group plc

b)

LEI

213800XB8YZNGJYDEZ97

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 and identification code

 

Ordinary shares of £0.01 each

 

ISIN: GB00BD0NVK62

b)

Nature of the transaction

 

Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

 

c)

 

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

£nil

66,179


d)

Aggregated

information

Aggregated volume

Price

 

 

Volume: 66,179

 

Price: £nil

e)

Date of the

transaction

 

31 January 2023

f)

Place of the

transaction

 

Outside a trading venue

 

 

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Mat Hart

 

2.

Reason for the notification

a)

Position / status

Chief Marketing and Technology Officer

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Hollywood Bowl Group plc

b)

LEI

213800XB8YZNGJYDEZ97

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 and identification code

 

Ordinary shares of £0.01 each

 

ISIN: GB00BD0NVK62

b)

Nature of the transaction

 

Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

 

c)

 

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

£nil

82,724


d)

Aggregated

information

Aggregated volume

Price

 

 

Volume: 82,724

Price: £nil

e)

Date of the

transaction

 

31 January 2023

f)

Place of the

transaction

 

Outside a trading venue

 

 

1.

Details of PDMR / person closely associated with them ('CAP')

a)

Name

Darryl Lewis

 

2.

Reason for the notification

a)

Position / status

Chief Operating Officer

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Hollywood Bowl Group plc

b)

LEI

213800XB8YZNGJYDEZ97

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 and identification code

 

Ordinary shares of £0.01 each

 

ISIN: GB00BD0NVK62

b)

Nature of the transaction

 

Grant of LTIP Performance Shares Award. The Award is structured as a nil cost option which shall ordinarily vest and become exercisable from the third anniversary of its grant date subject to continued service and to the extent to which the performance conditions set for the Award are satisfied.

 

c)

 

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

£nil

55,285


d)

Aggregated

information

Aggregated volume

Price

 

 

Volume: 55,285

 

Price: £nil

e)

Date of the

transaction

 

31 January 2023

f)

Place of the

transaction

 

Outside a trading venue

 

 

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