Business
Exercise of Share Options and Sale of Shares
Exercise of Share Options and Sale of Shares.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 2469U PPHE Hotel Group Limited 27 March 2019 \n\n \n \n \n \nPPHE Hotel Group Limited\n(the \"Company\")\n \nExercise of Share Options and Sale of Shares\nThe Company announces that on 27 March 2019 the board of directors of the Company approved the issue and allotment of 60,552 new ordinary shares of no par value each in the Company (\"Shares\") subject to and conditional upon Admission (as defined below) in order to satisfy an exercise of share options held by Daniel Kos and Greg Hegarty (\"Share Options\") (each of whom is a person discharging managerial responsibilities as defined in the EU Market Abuse Regulation or a \"PDMR\"). As part of this exercise, the individuals in question authorised the Company to sell the Shares in the market at the best price reasonably available. \nDaniel Kos has exercised Share Options in respect of 50,000 Shares and has agreed to the net settlement of such Share Options, resulting in Mr. Kos receiving 28,834 Shares and surrendering Share Options in respect of 21,166 Shares. Following such exercise and surrender of Share Options on 27 March 2019, 28,834 Shares were sold on behalf of Mr. Kos at a price of £16.30 per Share. \nGreg Hegarty has exercised Share Options in respect of 55,000 Shares and has agreed to the net settlement of such Share Options, resulting in Mr. Hegarty receiving 31,718 Shares and surrendering Share Options in respect of 23,282 Shares. Following such exercise and surrender of Share Options, on 27 March 2019 31,718 Shares were sold on behalf of Mr. Hegarty at a price of £16.30 per Share. \nFollowing such exercise and surrender, Share Options are outstanding over a total of 417,500 Shares representing approximately 0.98% of the Company's issued share capital (excluding shares held in treasury).\nThe Share Options were granted under the Company's Executive Share Option Plan on 14 November 2016. On Admission, all of the new Shares will rank pari passu with the Company's existing Shares. Applications have been made for the new Shares to be admitted to the Official List of the UK Listing Authority and to trading on London Stock Exchange plc's main market for listed securities (\"Admission\"). Admission is expected to take place on or around 2 April 2019. \nTotal Voting Rights\nOn Admission, the ...