TIDMSSTY

RNS Number : 4974I

Safestay PLC

19 April 2022

19 April 2022

Safestay plc

("Safestay", the "Company" or the "Group")

Grant and Cancellation of Options

Safestay (AIM: SSTY), the owner and operator of a brand of contemporary hostels, announces that, following a review of director rewards and incentives, the Remuneration Committee of the Board of Directors ("Directors") has recommended that, given the reduction in the Company's share price, that the existing awards of share options are no longer a reasonable incentive for the Company's management team (the "Management Team") and Directors and should be replaced in order to re-align the option scheme with the current share price. The Board of Directors has approved this recommendation.

On 14 April 2022 the Company granted awards of options over a total of 4,020,121 ordinary shares of one (1) penny each in the Company ("Ordinary Shares") under the Company's existing share option scheme (the "New Options"). The New Options are exercisable at the prices set out below on or after 1 January 2024.

A portion of the New Options, as set out below, have been awarded to replace all existing awards of options previously granted in the same number (the "Old Options") to the current Management Team and Directors, which were cancelled on 14 April 2022. The holders of all of the Old Options have agreed to their termination with immediate effect. Old Options that were previously priced significantly above the current share price have effectively been reissued at the current share price, with Old Options previously priced below the current share price effectively reissued at their previous exercise price.

In addition to the replacement of the Old Options, the New Options also include new share options granted to Paul Hingston, Chief Financial Officer, as part of his employment package following his appointment in February 2022.

Details of the New Options are as follows:

 
 Date of Grant    Director/PDMR       Position              Number of New       Number of New        Total number of 
                                                            Options over        Options over         Ordinary Shares 
                                                            Ordinary Shares     Ordinary Shares      over which 
                                                            granted             granted (new         options held 
                                                            (replacement)       grant)               following 
                                                                                                     notification 
                                                            1,471,221 at 15 
 14 April 2022    Larry Lipman        Chairman              pence per share     0                    1,583,621 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            23,900 at 14 
                                                            pence per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            51,400 at 13 
                                                            pence per share 
                                                           ------------------ 
                                                            37,100 at 9 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            100,000 at 15 
 14 April 2022    Maria Moreno        Area Manager          pence per share     0                    100,000 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            287,200 at 15 
 14 April 2022    Mario Di Candido    Head of Revenue       pence per share     0                    365,900 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            16,700 at 14 
                                                            pence per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            36,000 at 13 
                                                            pence per share 
                                                           ------------------ 
                                                            26,000 at 9 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                      Non-Executive         15,500 at 15 
 14 April 2022    Michael Hirst        Director             pence per share     0                    29,500 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            3,000 at 14 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            6,400 at 13 pence 
                                                            per share 
                                                           ------------------ 
                                                            4,600 at 9 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                      Chief Operating       1,229,500 at 15 
 14 April 2022    Nuno Sacramento      Officer              pence per share     0                    1,369,800 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            29,800 at 14 
                                                            pence per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            64,200 at 13 
                                                            pence per share 
                                                           ------------------ 
                                                            46,300 at 9 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                      Chief Financial                           400,000 at 15 
 14 April 2022    Paul Hingston        Officer              0                   pence per share      400,000 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                      Non-Executive         37,500 at 15 
 14 April 2022    Stephen Moss         Director             pence per share     0                    71,300 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            7,200 at 14 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            15,400 at 13 
                                                            pence per share 
                                                           ------------------ 
                                                            11,200 at 9 pence 
                                                            per share 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
                                                            100,000 at 15 
 14 April 2022    Yogesh Ram          Head of Marketing     pence per share     0                    100,000 
                 ------------------  --------------------  ------------------  -------------------  ------------------ 
 

Following the grant of the New Options, the total number of options outstanding over unissued Ordinary Shares is 4,9 37,389 representing approximately 8% of the Company's issued share capital.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Larry Lipman 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
                                                 Chairman 
  a)    Position/status 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)      Volume(s) 
                                                   n/a              1,583,621 
                                                              --------------- 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Maria Moreno 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
 
  a)    Position/status                           Area Manager 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)     Volume(s) 
                                                   n/a              100,000 
                                                              ------------- 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Mario Di Candido 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
                                                 Head of Revenue 
  a)    Position/status 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)     Volume(s) 
                                                   n/a              365,900 
                                                              ------------- 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Michael Hirst 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
                                                 Non-Executive Director 
  a)    Position/status 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)     Volume(s) 
                                                   n/a              29,500 
                                                              ------------ 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Nuno Sacramento 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
                                                 Chief Operating Officer 
  a)    Position/status 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)      Volume(s) 
                                                   n/a              1,369,800 
                                                              --------------- 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Paul Hingston 
      ----------------------------------------  --------------------------------------------------------- 
 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                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)     Volume(s) 
                                                   n/a              400,000 
                                                              ------------- 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Stephen Moss 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
 
  a)    Position/status                           Non-executive Director 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)     Volume(s) 
                                                   n/a              71,300 
                                                              ------------ 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person closely associated 
 a)    Name                                      Yogesh Ram 
      ----------------------------------------  --------------------------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------------------------- 
 
  a)    Position/status                           Head of Marketing 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Initial notification/Amendment            Initial notification 
      ----------------------------------------  --------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, auction platform, auctioneer 
        or auction monitor 
      --------------------------------------------------------------------------------------------------- 
 a)    Name                                      Safestay plc 
      ----------------------------------------  --------------------------------------------------------- 
 b)    LEI                                       213800H1MT2FZDI3HK90 
      ----------------------------------------  --------------------------------------------------------- 
 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   Share options over ordinary shares of GBP0.01p par value 
        Identification code                       GB00BKT0J702 
      ----------------------------------------  --------------------------------------------------------- 
 b)    Nature of the transaction                 Grant of options 
      ----------------------------------------  --------------------------------------------------------- 
 c)    Price(s) and volume(s)                     Price(s)     Volume(s) 
                                                   n/a              100,000 
                                                              ------------- 
      ----------------------------------------  --------------------------------------------------------- 
 d)    Aggregated information                    N/A single transaction 
        - Aggregated volume - Price 
      ----------------------------------------  --------------------------------------------------------- 
 e)    Date of the transaction                   14 April 2022 
      ----------------------------------------  --------------------------------------------------------- 
 f)    Place of the transaction                  Outside a trading venue 
      ----------------------------------------  --------------------------------------------------------- 
 

Enquiries:

Safestay plc +44 (0) 20 8815 1600

Larry Lipman

Liberum Capital Limited

(Nominated Adviser and Broker) +44 (0) 20 3100 2000 Andrew Godber/Edward Thomas/Miquela Bezuidenhoudt

Novella

Tim Robertson +44 (0) 20 3151 7008

Fergus Young

For more information visit our:

Website www.safestay.com

Vox Markets page https://www.voxmarkets.co.uk/company/SSTY/news/

Instagram page www.instagram.com/safestayhostel

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