Director/PDMR Shareholding

RNS Number : 5932I

LondonMetric Property PLC

20 June 2017

 

20 June 2017

LONDONMETRIC PROPERTY PLC

PDMR/DIRECTOR DEALINGS

LondonMetric Property Plc ("LondonMetric" or "Company") announces the granting of share incentive awards, vesting of previous share awards and part disposal by Directors of  vested shares to meet associated tax liabilities.

SHARE INCENTIVE AWARDS

In relation to the financial year ended 31 March 2017, LondonMetric granted the following incentive awards on 16 June 2017 over ordinary shares of 10 pence each ("Shares"):

·      nil cost options over 2,163,274 shares under the Company's Long Term Incentive Plan ("LTIP"); and

·      608,280 deferred Shares under the Company's deferred bonus plan.

Awards to notifiable interests are set out below.

	Options awarded  under the LTIP	Shares  awarded under the deferred bonus plan
Andrew Jones	619,500	222,852
Martin McGann	335,402	124,088
Valentine Beresford	353,190	130,670
Mark Stirling	353,190	130,670
Andrew Smith	118,652	-

Vesting of Shares awarded under the 2017 LTIP is subject to total shareholder return, total accounting return and earnings performance conditions measured over a three year period.

VESTING AND PART DISPOSAL OF SHARES ARISING FROM PRIOR AWARDS

In respect of prior year share awards, the following Shares have vested:

·      2,212,076 Shares relating to grants under the Company's LTIP on 19 June 2014

·      606,160 Shares relating to grants under the Company's Deferred Bonus Plan on 19 June 2014, 11 June 2015 and 8 June 2016.

Vesting of notifiable interests are set out below, along with details of disposals by the Company's executive directors that were undertaken in order to meet tax liabilities arising from vesting of Shares.

	LTIP Shares vested	Bonus Shares vested4	Shares disposed1	Net increase in holding2	Resultant beneficial holding
Andrew Jones	666,484	230,026	422,630	473,880	3,371,802
Martin McGann3	341,701	117,092	294,410	164,383	2,767,531
Valentine Beresford	359,826	129,521	230,688	258,659	2,757,059
Mark Stirling	359,826	129,521	230,688	258,659	2,250,721
Andrew Smith	134,317	-	63,319	70,998	184,498

1.     Shares were disposed on 19 June 2017 at a price of 171.65 pence per Share

2.     Shares that vested and were not disposed have been pledged by Andrew Jones, Valentine Beresford and Mark Stirling 

3.     Included in the disposal amount for Martin McGann are additional Shares disposed to meet tax liabilities and other costs arising from the vesting on 28 November 2016 of 197,446 LTIP shares granted on 27 November 2013

4.     Inclusive of entitlement to the fourth quarter dividend

Further information on remuneration, the LTIP, the deferred bonus plan and pledging is contained in the Company's 2017 Annual Report.

-Ends-

For further information, please contact:

LondonMetric Property Plc

Andrew Jones / Martin McGann

Tel: [phone]

FTI Consulting

Dido Laurimore/Tom Gough/Richard Gotla

Tel: [phone]

 

END

 

 

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