Notification of Transactions of PDMR

RNS Number : 2447E

Belvoir Lettings PLC

08 February 2018

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

8 February 2018

BELVOIR!
             

BELVOIR LETTINGS PLC

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

Notification of Transactions of Persons Discharging Managerial Responsibilities

Belvoir Lettings plc today announces that it has granted options over new ordinary shares in the Company to Mark Newton, a Director of Belvoir, under the Belvoir Lettings Performance Share Plan.  The award reflects his role in managing the operation of Newton Fallowell Limited ('Newton Fallowell') and Brook Financial Services Limited ('Brook').

The award will be subject to the combined EBITDA performance of Newton Fallowell, Brook and any future relevant acquisition.  A floor of £1.8m and a cap of £2.25m applies to the EBITDA Performance Condition (as adjusted for any future relevant acquisitions), vesting until 31 December 2020.

The maximum award is stated below:

Name                             Position                                   Number of shares

                                                                                        subject to award

Mark Newton                   Director                                    144,000

Immediately prior to this award the Company's issued share capital was 34,938,606 ordinary shares and there were outstanding options of 2,172,440.

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Mark Newton
2	Reason for notification
a.	Position/Status	Director
b.	Initial notification/ Amendment	Initial Notification Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Belvoir Lettings PLC
b.	LEI	N/A
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 Identification Code	Ordinary Shares of 1 pence each ISIN: GB00B4QY1P51
b.	Nature of the transaction	Grant of nil cost options
c.	Price(s) and volume(s)	Over Company's shares
		Price 1 pence each	Volume 144,000
d.	Aggregated information - Aggregated Volume - Price	n/a n/a
e.	Date of the transaction	08 February 2018
f.	Place of the transaction	London Stock Exchange

For further details:

Belvoir Lettings PLC Dorian Gonsalves, Chief Executive Officer Louise George, Chief Financial Officer	01476 584900 [e-mail]
Cantor Fitzgerald Europe Rick Thompson, Phil Davies, William Goode Corporate Finance	020 7894 7000
Buchanan Charles Ryland, Victoria Hayns, Madeleine Seacombe	0207 466 5000

About Belvoir Lettings PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with over 300 offices across four brands offering a range of specialist services in property rental, property management, residential lettings, buy to let and property sales. With its Central Office in Grantham, Lincolnshire, the Group manages 56,000 properties and reported revenue of £9.9m in 2016 making Belvoir the largest property franchise group in the UK.

 

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