Hollywood Bowl Group plc
LTIP Share Awards
Hollywood Bowl Group plc (LSE: BOWL the "Company") announces that on 4 February 2022 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 | 164,015 |
| Laurence Keen | Chief Financial Officer | 106,503 |
| Melanie Dickinson | Chief People Officer | 63,643 |
| Mat Hart | Chief Marketing and Technology Officer | 79,554 |
| Darryl Lewis | Chief Operating Officer | 49,721 |
These awards are subject to the following performance targets:
| Measure | Description | Weighting | Threshold | Target | Max |
| Adjusted EPS1 | Adjusted EPS for the final year of the performance period - FY2024
| 70% | 14.65p (25% payout) | 15.42p (62.5% payout) | 16.19p (100% payout) |
| Return on centre invested capital | 20% return on all centre invested capital (refurbs and new centres)
| 10% | N/A | 20% return (100% payout) | N/A |
| Emissions ratio for Scope 1 and Scope 2
| Intensity ratio (IR) of under 100 | 10% | | IR under 100 (100% payout) | |
| Team member development
| 5% of team members progressed through internal development programmes | 10% | N/A | 5% (100% payout) | N/A |
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. 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 2021 Annual report and accounts which are available on the Company's website.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, provide further detail.
For further information please contact:
| Hollywood Bowl Group Stephen Burns, Chief Executive Officer Laurence Keen, Chief Financial Officer Mathew Hart, Chief Marketing and Technology Officer | via Tulchan Communications |
| | |
| | |
| Tulchan Communications James Macey White Elizabeth Snow 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)
|
| ||||
| d) | Aggregated information Aggregated volume Price
|
Volume: 164,015
Price: £nil | ||||
| e) | Date of the transaction
| 4 February 2022 | ||||
| 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)
|
| ||||
| d) | Aggregated information Aggregated volume Price
|
Volume: 106,503
Price: £nil | ||||
| e) | Date of the transaction
| 4 February 2022 | ||||
| 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)
|
| ||||
| d) | Aggregated information Aggregated volume Price
|
Volume: 63,643
Price: £nil | ||||
| e) | Date of the transaction
| 4 February 2022 | ||||
| f) | Place of the transaction
| Outside a trading venue
| ||||
| 1. | Details of PDMR / person closely associated with them ('CAP') | |||||
| a) | Name | Mathew 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)
|
| ||||
| d) | Aggregated information Aggregated volume Price
|
Volume: 79,554 Price: £nil | ||||
| e) | Date of the transaction
| 4 February 2022 | ||||
| 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)
|
| ||||
| d) | Aggregated information Aggregated volume Price
|
Volume: 49,721
Price: £nil | ||||
| e) | Date of the transaction
| 4 February 2022 | ||||
| f) | Place of the transaction
| Outside a trading venue
| ||||
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