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

 

+44 (0)121 212 3446

 

Smith & Williamson Corporate Finance Limited

Azhic Basirov/David Jones

 

+44 (0)20 7131 4000

 

Liberum

Jamie Richards/William Hall

 

+44 (0)20 3100 2000

 

Gable Communications Limited

John Bick

 

+44 (0)20 7193 7463

+44 (0)7872 061 007

 

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

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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