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PPHE Hotel Grp Ltd (PPH)

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Wednesday 30 June, 2021

PPHE Hotel Grp Ltd

PDMR announcement

RNS Number : 7234D
PPHE Hotel Group Limited
30 June 2021
 

30 June 2021

 

PPHE Hotel Group Limited

("PPHE Hotel Group" or   the "Company")

PDMR announcement

PPHE Hotel Group, 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 changes to a retention plan so as to avoid potential contraventions with the Dutch NOW scheme.

The Company refers to its announcement of 12 November 2020, in which it announced the approval of grants made under the 2020 Long Term Incentive Plan which are aimed at long term retention of key employees.  Since this plan was announced, additional guidance has been issued by the relevant Dutch authorities in relation to the Dutch furlough scheme (known as "NOW") which makes it clear that the grant of such long term incentive plan options might contravene the conditions of NOW.

As a result, the relevant key employees have voluntarily agreed to surrender the awards granted under the "2020 Long Term Incentive Plan" announced on 12 November 2020.  The Company will consider what retention arrangements for key employees are appropriate on or after 1 January 2022 (being the expiry of the period to which the relevant restrictions relate).

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

Greg Hegarty

2

Reason for the notification

a)

Position/status

Deputy Chief Executive Officer & 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

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

Cancellation of Share option

GG00B1Z5FH87/PPH

b)

Nature of the transaction

Cancellation of Share Option

c)

Price(s) and volume(s)

Price(s)

Volume(s)

GBP 0

100,000

 

d)

Aggregated information

 

Nil

e)

Date of the transaction

30 June 2021

 

f)

Place of the transaction

London

 

 

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 & Executive Director

b)

Initial notification/Amendment

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

Cancellation of Share option

GG00B1Z5FH87/PPH

b)

Nature of the transaction

Cancellation of Share Option

c)

Price(s) and volume(s)

Price(s)

Volume(s)

GBP 0

100,000

 

d)

Aggregated information

 

GBP 0

e)

Date of the transaction

30 June 2021

 

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 & Legal Officer

b)

Initial notification/Amendment

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

Cancellation of share option

GG00B1Z5FH87/PPH

b)

Nature of the transaction

Cancellation of share option  

c)

Price(s) and volume(s)

Price(s)

Volume(s)

GBP 0

100,000

 

d)

Aggregated information

 

GBP 0

e)

Date of the transaction

30 June 2021

 

f)

Place of the transaction

London

 

 

Notes to Editors

 

PPHE Hotel Group is an international hospitality real estate company, with a 1.7 billion portfolio, valued as at December 2020 by Savills and Zagreb nekretnine Ltd (ZANE), 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 registered 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.

 

PPHE Hotel Group

Arena Hospitality Group

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