Business
Holdings of PDMRs
Holdings of PDMRs.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0556F\n PPHE Hotel Group Limited\n 12 November 2020\n \n \n \n 12th November 2020\n \n PPHE Hotel Group Limited\n(the \"Company\")\n Holdings of PDMRs\n PPHE Hotel Group Limited, an international hospitality company which owns and develops hotels and resorts, operates the Park Plaza® brand in EMEA and owns the art'otel® brand, today announces that\n during these challenging times, the Group is focussed on preparing for the hoped recovery and ensuring it is properly equipped to take advantage of the resumption of less volatile business conditions across its markets in 2021. A key factor in this regard is the Group's retention of its key talent particularly in light of anticipated pressure in the market on retention and recruiting. \n The Group acted swiftly and effectively to preserve its position by taking measures to conserve cash, reduce overhead costs and realign expenditure in balance with demand, so far as reasonably possible. The Group undertook fundamental changes to its workforce through the use of government employment schemes, reductions in hours, voluntary payroll reductions and, unavoidably, through forgoing contract renewals, redundancies and deferral of incentives. \n The Remuneration Committee of the Board has approved two plans during these unusual times aimed at long term retention of key employees and preserving the cashflow at this current time.\n Salary Sacrifice Option Plan\n The Group has offered a scheme to its key employees the aim of which is to preserve cashflow whilst ensuring retention. Under this scheme, employees agree to a reduction in their base salary for a further 12 months in consideration for nil cost options. \n The following PDMRs were granted options under the Plan over the number of ordinary shares of no par value in the Company with a nil exercise price as set out in the table below.\n \n \n \n \n Name\n \n \n Position\n \n \n Number of ordinary shares in the Company\n \n \n \n \n Daniel Kos\n \n \n Chief Financial Officer\n \n \n 4,308\n \n \n \n \n Greg Hegarty\n \n \n Deputy CEO & COO\n \n \n 4,308\n \n \n \n \n Inbar Zilberman\n \n \n Chief Corporate & Legal Officer\n \n \n 3,846\n \n \n \n \n \n \n Long Term Incentive Plan\n \n The current 2020 long-term incentive plan has been amended to include the grant of options at mar...