Grant of options under new SAYE Plan

RNS Number : 9222C

Empiric Student Property PLC

24 June 2021

 

24 June 2021

Empiric Student Property plc

("Empiric" or the "Company" or, together with its subsidiaries, the "Group")

Grant of options under new SAYE Plan

The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, announces that on 23 June 2021 it granted options ("Options") to employees under the Company's newly established SAYE Option Plan (the "SAYE Plan").

All individuals (including Executive Directors) who were employed by the Group as at 26 May 2021 (the "Eligible Employees") were invited to apply for the grant of Options over Empiric's ordinary shares of 1p each ("Shares") with an exercise price of £0.711 per Share, which represents a 15% discount to the closing middle market price of £0.836 per Share on 25 May 2021 (being the trading day before the invitation for Eligible Employees to participate was issued).

The above Options have a contract start date of 1 August 2021 and will generally be exercisable between 1 August 2024 and 1 February 2025. 

A total of 49 Eligible Employees elected to participate in the SAYE Plan and, pursuant to these elections, Options over a total of 324,784 Shares have been granted representing approximately 0.054% of the Company's current issued share capital.  Included within this total are Options granted to the following Executive Directors of the Company:

Name	Role	No. of Shares over which Options granted on 23 June 2021
Duncan Garrood	Chief Executive Officer	25,316
Lynne Fennah	Chief Financial & Operating Officer	25,316

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	1.  Duncan Garrood 2.  Lynne Fennah
2	Reason for the notification
a)	Position/status	1.  Chief Executive Officer 2.  Chief Financial & Operating Officer
b)	Initialnotification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Empiric Student Property plc
b)	LEI	213800FPF38IBPRFPU87
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 1p each ("Shares")
	Identificationcode	GB00BLWDVR75
b)	Nature of thetransaction	Grant of options over Shares pursuant to the Empiric Student Property plc SAYE Option Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) 1. £0.711 (exercise price) 25,316 2. £0.711 (exercise price) 25,316
d)	Aggregated information -  Aggregated volume -  Price	1.  N/A single transaction 2.  N/A single transaction
e)	Date of the transaction	23 June 2021
f)	Place of the transaction	London Stock Exchange

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

Empiric Student Property plc	(via Maitland/AMO below)
Duncan Garrood (Chief Executive Officer)
Lynne Fennah (Chief Financial & Operating Officer)
Jefferies International Limited	020 7029 8000
Stuart Klein
Tom Yeadon
RBC Europe Limited (trading as RBC Capital Markets)	020 7653 4000
Charlie Foster
Marcus Jackson
Maitland/AMO (Communications Adviser)	07747 113 930
James Benjamin	[e-mail]

The Company's LEI is 213800FPF38IBPRFPU87.

Further information on Empiric can be found on the Company's website at www.empiric.co.uk .

Notes :

Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation located in high-demand university towns and cities across the UK. Investing in both operating and development assets, Empiric is a fully integrated operational student property business focused on premium studio-led accommodation managed through its Hello Student® operating platform, that attracts affluent growing student segments.

The Company, an internally managed real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.

 

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