Exercise of LTIP Awards and Issue of Equity

RNS Number : 5318C

Circle Property PLC

11 October 2022

 

11 October 2022

Circle Property Plc

("Circle" or the "Company")

Exercise of LTIP Awards and Issue of Equity

Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, announces that on 11 October 2022, John Arnold, Chief Executive Officer and Edward Olins, Chief Operating Officer, exercised their rights to acquire, for nil consideration, 466,649 and 419,984 ordinary shares of no par value ("Ordinary Shares") respectively, under previously vested awards granted under the Circle Property plc 2016 Long Term Incentive Plan ("LTIP"). Details of the LTIP awards (as amended) were included in the announcement dated 14 February 2022.

The issue of 886,633 Ordinary Shares will be satisfied by 255,034 Ordinary Shares currently held in treasury and the issue of 631,599 new Ordinary Shares. Application has been made for 631,599 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 17 October 2022 and the Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.

On Admission, the Company will have a total of 29,183,395 Ordinary Shares in issue with no Ordinary Shares held in treasury.  The figure of 29,183,395 may be used by the Company's shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules.

Following Admission, Mr Arnold will beneficially hold 1,503,047 Ordinary Shares and Mr Olins will beneficially hold 552,641 Ordinary Shares representing 5.15 per cent. and 1.89 per cent. of the Company's issued share capital, respectively.

Circle Property Plc	[phone]
John Arnold, CEO Edward Olins, COO
Cenkos Securities	[phone]
Katy Birkin  Mark Connelly
Radnor Capital	[phone]
Joshua Cryer Iain Daly
Camarco	[phone]
Ginny Pulbrook Toby Strong

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Arnold
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	Circle Property plc
b)	LEI	213800THDWL3FB11M760
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	Ordinary Shares of no par value
	Identification code	JE00BYP0CK63
b)	Nature of the transaction	Exercise of rights under LTIP awards pursuant to the Circle Property plc 2016 Long Term Incentive Plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Nil	466,649
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	11 October 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Edward Olins
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	Circle Property plc
b)	LEI	213800THDWL3FB11M760
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	Ordinary Shares of no par value
	Identification code	JE00BYP0CK63
b)	Nature of the transaction	Exercise of rights under LTIP awards pursuant to the Circle Property plc 2016 Long Term Incentive Plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Nil	419,984
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	11 October 2022
f)	Place of the transaction	XOFF

 

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