Director/PDMR Shareholding

RNS Number : 3218J

Real Estate Investors PLC

29 March 2018

 

29 March 2018

Real Estate Investors Plc

("REI" or the "Company")

Grant of awards

Real Estate Investors Plc (AIM:RLE), the London Stock Exchange listed Real Estate Investment Trust (REIT) with a portfolio of 1.5 million sq ft of commercial property in the Midlands property market across all sectors, announces that on 28 March 2018 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2010. The awards give rights to certain Directors to acquire a total of 1,336,449 ordinary shares of 10p each in the Company ("Ordinary Shares") as detailed below at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares).  The vesting of 50% of the award is subject to a performance condition based on total shareholder return, with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 14% levels of annual return/growth are achieved.

Award Holder	Number of Ordinary Shares under Award	Expected Vesting Date
Paul Bassi	822,430	April 2021
Marcus Daly	514,019	April 2021

Enquiries:

Real Estate Investors Plc Paul Bassi	[phone]
Smith & Williamson Corporate Finance Limited Azhic Basirov/David Jones	[phone]
Liberum Jamie Richards/William Hall	[phone]
Gable Communications Limited John Bick	[phone] [phone]

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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	Paul Bassi
2	Reason for the notification
a)	Position/status	PDMR (Director)
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Real Estate Investors Plc
b)	LEI	21380015X5JMEGUHPD83
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	Share award, constituting a right to acquire ordinary shares of 10p each
	Identification code	GB00B45XLP34
b)	Nature of the transaction	Grant of annual award under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan. The award gives rights to acquire ordinary shares in the Company ("Ordinary Shares") at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date (April 2021) with full vesting if 14% levels of annual return/growth are achieved
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		nil	822,430
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	28 March 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marcus Daly
2	Reason for the notification
a)	Position/status	PDMR (Director)
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Real Estate Investors Plc
b)	LEI	21380015X5JMEGUHPD83
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	Share award, constituting a right to acquire ordinary shares of 10p each
	Identification code	GB00B45XLP34
b)	Nature of the transaction	Grant of annual award under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan. The award gives rights to acquire ordinary shares in the Company ("Ordinary Shares") at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date (April 2021) with full vesting if 14% levels of annual return/growth are achieved
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		nil	514,019
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	28 March 2018
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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