TIDMHSW

RNS Number : 8705W

Hostelworld Group PLC

28 April 2021

Hostelworld Group plc ("Hostelworld" or "the Company")

28 April 2021

Grant of Awards under the Long-Term Incentive Plan and LTIP Adjustment

LEI: 213800OC94PF2D675H41

Performance Share Awards

Hostelworld announces that the following grants of nil-cost options over ordinary shares in the capital of the Company were made to Directors of the Company on 27 April 2021, under the terms of the Company's Long-Term Incentive Plan.

 
 Director               Position       No. of nil-cost options 
                                               granted 
                    Chief Executive 
 Gary Morrison           Officer               480,354 
                   -----------------  ------------------------ 
                    Chief Financial 
 Caroline Sherry         Officer               238,228 
                   -----------------  ------------------------ 
 

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.

Restricted Share Awards

Hostelworld announces that the following grants of conditional share awards over ordinary shares in the capital of the Company were made to Directors of the Company on 27 April 2021, under the terms of the Company's Long-Term Incentive Plan.

 
 Director               Position        No. of conditional 
                                        share awards granted 
                    Chief Executive 
 Gary Morrison           Officer              430,398 
                   -----------------  ---------------------- 
                    Chief Financial 
 Caroline Sherry         Officer              266,815 
                   -----------------  ---------------------- 
 

No consideration was paid for the grant of the awards.

The award will vest in two tranches. The first tranche (representing 50 per cent of the award) will vest on 28 February 2022 and the second tranche (representing the remaining 50 per cent of the award) will vest on 28 February 2023. Vesting will be dependent upon the relevant Director being employed by Hostelworld as of the vesting date and satisfactory personal performance.

2020 Bonus Share Issue - Adjustment to existing LTIP Awards

Following shareholder approval obtained at a general meeting held on 17 September 2020, the Company issued 1,636,252 new ordinary shares to shareholders who appeared on the Company's register of members as at 6.00 pm on 17 September 2020 (the "Bonus Issue Record Time") by way of a bonus share issue (the "Bonus Share Issue"). The Bonus Share Issue was allocated to shareholders on 18 September 2020 with each qualifying shareholder receiving one new bonus issue share for every 70.09 shares held as at the Bonus Issue Record Time. In accordance with the rules of the Company's LTIP and in order to protect the value of existing awards made under the Company's LTIP, Hostelworld announces that the number of nil-cost options held by Directors as participants in the Company's LTIP was adjusted on 27 April 2021 to increase the number of LTIP shares held under awards granted previously. One additional nil-cost option was granted for every 70.09 nil-cost options held pursuant to an existing award.

 
 Director               Position        Increase in number 
                                        of existing nil-cost 
                                              options 
                    Chief Executive 
 Gary Morrison           Officer              14,578 
                   -----------------  ---------------------- 
                    Chief Financial 
 Caroline Sherry         Officer               1,202 
                   -----------------  ---------------------- 
 

No consideration was paid for the adjustment increase.

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) Caroline Sherry 
       ----------------------------  ------------------------------------------------------ 
 2      Reason for the notification 
       ------------------------------------------------------------------------------------ 
 a)     Position/status               1) Gary Morrison - Director/Chief 
                                       Executive Officer 
                                       2) Caroline Sherry - Director/Chief 
                                       Financial Officer 
       ----------------------------  ------------------------------------------------------ 
 b)     Initial notification          Initial Notification 
         /Amendment 
       ----------------------------  ------------------------------------------------------ 
 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            Ordinary Shares of EUR0.01 each 
         financial instrument, 
         type of instrument 
                                       ISIN: GB00BYYN4225 
         Identification code 
 
 
 b)     Nature of the transaction          1. 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. 
 
                                            2. Grant of Conditional Share Awards 
                                            made in accordance with the Hostelworld 
                                            Group plc Long Term Incentive Plan. 
 
                                            3. Increase in number of existing nil-cost 
                                            options. 
       ----------------------------  -------------------------------------------------------- 
 c)     Price(s) and volume(s)           Nil Cost Options Price(s)      Volume(s) 
                                           1) EUR0.00    1) 480,354 (Gary Morrison) 
                                            2) EUR0.00    2) 238,228 (Caroline 
                                                           Sherry) 
                                                        --------------------------- 
                                     -------------------------------------------------------- 
                                         Conditional Share Awards Price(s)      Volume(s) 
                                           1) EUR0.00    1) 430,398 (Gary Morrison) 
                                            2) EUR0.00    2) 266,815 (Caroline 
                                                           Sherry) 
                                                        --------------------------- 
                                     -------------------------------------------------------- 
                                         Increase in number of Existing nil-cost 
                                          options Price(s)      Volume(s) 
                                           1) EUR0.00    1) 14,578 (Gary Morrison) 
                                            2) EUR0.00    2) 1,202 (Caroline Sherry) 
                                                        ---------------------------- 
       ----------------------------  -------------------------------------------------------- 
 d)     Aggregated information        N/A 
         - Aggregated volume 
         - Price 
       ----------------------------  -------------------------------------------------------- 
 e)     Date of the transaction       27 April 2021 
       ----------------------------  -------------------------------------------------------- 
 f)     Place of transaction          N/A Outside a trading venue 
       ----------------------------  -------------------------------------------------------- 
 g)     Additional information        None 
       ----------------------------  -------------------------------------------------------- 
 
 

Contacts: Hostelworld Group plc

John Duggan, General Counsel & Company Secretary

Tel: +353 (0) 86 022 3553

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April 28, 2021 05:04 ET (09:04 GMT)