Hollywood Bowl Group plc LTIP Share Awards
30 Enero 2024 - 6:30AM
RNS Regulatory News
RNS Number : 3992B
Hollywood Bowl Group plc
30 January 2024
The following amendment has been
made to the "LTIP Share Awards" announcement released on 30 January
2024 at 10.15am under RNS 3785B:
The final year of the performance
period in the description of the adjusted EPS measure was
incorrectly stated as FY2025 rather than FY2026. The correct
year is reflected in the announcement below.
All other details remain
unchanged.
Hollywood Bowl Group
plc
Correction: LTIP Share
Awards
Hollywood Bowl Group plc (LSE:
BOWL the
"Company") announces that on 30 January 2024 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
|
238,362
|
Laurence Keen
|
Chief Financial Officer
|
156,220
|
Melanie Dickinson
|
Chief People Officer
|
61,661
|
Mat Hart
|
Chief Marketing and Technology
Officer
|
77,077
|
Darryl Lewis
|
Chief Operating Officer
|
51,511
|
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 - FY2026
|
70%
|
23.10p
(25% payout)
|
24.32p
(62.5% payout)
|
25.54p
(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 55
(50% payout)
|
IR at 52
(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 2023 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
|
|
|
|
|
Teneo
Elizabeth Snow
Laura Marshall
|
Hollywoodbowl@teneo.com
+44 20 7260 2700
|
|
|
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
|
238,362
|
|
d)
|
Aggregated
information
Aggregated volume
Price
|
Volume:
Price: £nil
|
e)
|
Date of the
transaction
|
30 January 2024
|
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
|
156,220
|
|
d)
|
Aggregated
information
Aggregated volume
Price
|
Volume:
Price: £nil
|
e)
|
Date of the
transaction
|
30 January 2024
|
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
|
61,661
|
|
d)
|
Aggregated
information
Aggregated volume
Price
|
Volume:
Price: £nil
|
e)
|
Date of the
transaction
|
30 January 2024
|
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
|
77,077
|
|
d)
|
Aggregated
information
Aggregated volume
Price
|
Volume:
Price: £nil
|
e)
|
Date of the
transaction
|
30 January 2024
|
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
|
51,511
|
|
d)
|
Aggregated
information
Aggregated volume
Price
|
Volume:
Price: £nil
|
e)
|
Date of the
transaction
|
30 January 2024
|
f)
|
Place of the
transaction
|
Outside a trading venue
|
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DSHZZGFMZGNGDZM
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