Result of GM and Vesting/Lapsing of LTIP Awards

RNS Number : 2239E

Circle Property PLC

09 March 2022

 

9 March 2022

Circle Property Plc 

("Circle" or the "Company")

Result of General Meeting and Vesting/Lapsing of LTIP Awards

Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, is pleased to announce that both resolutions put to shareholders at the Company's General Meeting held today were duly passed.

 The total votes were cast as follows:

Resolution	For	%	Against	%
1	16,086,286	99.9	1,040	0.01
2	16,086,326	99.9	1,000	0.01

The disposal of Kents Hill Park Conference Centre, as detailed in the circular sent to shareholders on 14 February 2022 (the "Circular"), is expected to complete on 25 March 2022.

In addition, as detailed in the Circular and the announcement dated 14 February 2022, under the revised remuneration arrangements for the executive directors, the Board has determined that previously unvested LTIP awards granted in 2019 and 2020 vested to a limited extent on 8 March 2022.

The 2019 LTIP awards vested at 43.75% (based on performance conditions) in the following amounts: John Arnold (Chief Executive) 68,621 ordinary shares; and Edward Olins (Chief Operating Officer) 61,453 ordinary shares.  The 2020 LTIP awards vested at 25.00% (based on performance conditions) in the following amounts: John Arnold - 19,509 ordinary shares; and Edward Olins - 17,558 ordinary shares. 

The executive directors now have the right to be issued with the ordinary shares awarded (for nil consideration) although such issues have not yet occurred and remain subject to the exercise by the directors of their right.

The unvested LTIP awards granted in 2021 to the executive directors have lapsed in full and no further awards shall be granted under the LTIP in 2022 or going forwards. 

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

Enquiries:

Circle Property Plc	[phone]
John Arnold, CEO Edward Olins, COO
Cenkos Securities plc	[phone]
Katy Birkin Mark Connelly Radnor Capital Joshua Cryer Iain Daly	[phone]
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	Vesting of options to acquire Ordinary Shares under awards granted in 2019
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Nil	68,621
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 March 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	Vesting of options to acquire Ordinary Shares under awards granted in 2019
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Nil	61,453
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 March 2022
f)	Place of the transaction	XOFF

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	Vesting of options to acquire Ordinary Shares under awards granted in 2020
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Nil	19,509
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 March 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	Vesting of options to acquire Ordinary Shares under awards granted in 2020
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		Nil	17,558
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	8 March 2022
f)	Place of the transaction	XOFF

 

END

 

 

ROMGZGGFDLZGZZM