Hostelworld Group PLC GM Statement (3064U)
April 01 2021 - 4:20AM
UK Regulatory
TIDMHSW
RNS Number : 3064U
Hostelworld Group PLC
01 April 2021
LEI: 213800OC94PF2D675H41
1 April 2021
Hostelworld Group plc
("Hostelworld" or the "Company")
Notice of General Meeting and Circular
The Company announces that it will today publish and post (or
otherwise make available) to shareholders a Notice of General
Meeting with related explanatory circular (together the 'GM Notice
and Circular') and form of proxy. The GM Notice and Circular
contains resolutions to approve (1) an amendment to the Directors'
Remuneration Policy to provide for the grant of restricted shares
to the Executive Directors, and (2) an amendment to the rules of
the Company's Long Term Incentive Plan to remove the 5% dilution
limit which limits the issue of ordinary shares to satisfy awards
granted under the LTIP and any other discretionary share scheme to
5% of the Company's issued ordinary share capital over a rolling
10-year period. For the avoidance of doubt, there is no change to
the maximum dilution limit in the LTIP which limits the issue of
ordinary shares to satisfy awards granted under the LTIP and any
other employee share scheme operated by Hostelworld to 10% of the
issued ordinary share capital over a rolling 10-year period.
The resolutions will be put to shareholders at a General Meeting
of the Company to be held at 12.30 p.m. on 26 April 2021. The
General Meeting will be held at the offices of the Company, Floor
2, One Central Park, Leopardstown, Dublin 18, Ireland.
General Meeting arrangements
In light of the COVID-19 pandemic and in response to the Irish
Health Service Executive's current guidance regarding social
distancing and the prohibition of public gatherings, the General
Meeting will take place as a closed meeting and Shareholders will
not be able to attend in person. Shareholders and guests who travel
to the meeting will be refused entry.
The Company will make arrangements such that the legal
requirements to hold the General Meeting can be satisfied through
the attendance of a minimum number of people and the format of the
meeting will be simply to propose and vote on the ordinary
resolutions.
The Company will continue to closely monitor the rapidly
developing impact of COVID-19, including the latest Irish Health
Service Executive guidance and restrictions, and how this may
affect the arrangements for the General Meeting. If it becomes
necessary or appropriate to revise the current arrangements for the
General Meeting, further information will be made available on our
website at www.hostelworldgroup.com , by RIS announcement and by
any other means legally required at that time.
Despite these exceptional circumstances, the Board is keen to
maintain engagement with shareholders. To facilitate this, if you
are a shareholder and would like to ask the Board a question on the
formal business of the General Meeting, please email your question
to Corporate@hostelworld.com by 12.30 p.m. on 22 April 2021.
Responses will be made via return of email or published on our
website at www.hostelworldgroup.com as deemed appropriate by the
Board.
Whilst you will be unable to attend, you have the right to
appoint a proxy to vote at the General Meeting on your behalf. To
ensure that your vote can be exercised, we would encourage you to
appoint the Chairman as your proxy. If you appoint another person,
they will not be permitted to access the General Meeting and your
vote will not be able to be exercised.
The circular (incorporating the notice of General Meeting) has
been published on the Company's website at www.hostelworldgroup.com
. A copy of the circular will shortly be submitted to the National
Storage Mechanism and will be available for viewing at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism . Copies of
these documents will also be submitted to Euronext, Dublin and will
be available for inspection at:
Companies Announcements Office
Euronext Dublin
28 Anglesea Street
Dublin 2
Contacts:
Hostelworld Group plc
Caroline Sherry, Chief Financial Officer
John Duggan, General Counsel and Company Secretary
Rudolf O'Kane, Head of Commercial Finance
Tel: +353 (0) 1 498 0700
Powerscourt
Lisa Kavanagh/ Eavan Gannon
Tel: +44 (0) 20 7250 1446
hostelworld@powerscourt-group.com
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END
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