Director/PDMR Shareholding (Correction)

Safestore Holdings plc
08 November 2023
 

08 November 2023

 

This announcement is made in replacement of the "Directors/PDMR Shareholding" announcement released on 14 July 2023 (RNS Number 0525G). In the original announcement, the disclosed 2020 LTIP Award grants for Frederic Vecchioli and Andy Jones showed incorrect volumes and have been corrected below.

 

 

Safestore Holdings plc (the "Company")

 

Grant of Awards under the Safestore 2020 Long Term Incentive Plan

 

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

 

The Company announces that awards have been granted under the Safestore 2020 Long Term Incentive Plan ("2020 LTIP"), approved by shareholders at its Annual General Meeting held on 18 March 2020 and as amended at the General Meeting on 12 July 2023.

 

The Company has been notified of the following transactions in the Company's Ordinary Shares of 1p each undertaken by directors / persons discharging managerial responsibility ("PDMRs") on 12 July 2023 in accordance with the rules of the 2020 LTIP (as amended).

 

Name

Status

Number of Ordinary Shares under LTIP  Award

Option Price

                    

Frederic Vecchioli

Chief Executive Officer

276,166

 

 

£Nil

Andy Jones

Chief Financial Officer

141,016

£Nil

 

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 837.5 pence per share, being the closing share price on the dealing day immediately before the date of grant.

 

The normal vesting date of the LTIP Awards will be 12 July 2026, being the third anniversary of the award date. Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date.  The LTIP Awards are subject to a two-year holding period commencing on vesting.

 

The LTIP Awards incorporate a base award, a relative TSR multiplier, and an absolute and relative TSR performance modifier. The number of Ordinary Shares under the LTIP Award will normally vest after 3 years based on the satisfaction of performance conditions which are measured over a 3 year period.  The base award is subject to the satisfaction of the following performance targets:

 

i.          65% (sixty-five per cent) based on the Company's adjusted diluted EPRA EPS growth;

ii.         25% (twenty-five per cent) based on strategic/operational measures (growth in Maximum Lettable Area ("MLA")); and

iii.        10% (ten per cent) based on the Company's performance against ESG targets.

 

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK version of the EU Market Abuse Regulation which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons close associated with them.

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Frederic Vecchioli

2

 

Reason for the notification

a)

Position/status

PDMR, 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

Safestore Holdings plc

b)

LEI

213800WGA3YSJC1YOH73

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



Identification code

GB00B1N7Z094



b)

 

Nature of the transaction

Grant of nil cost option under the Safestore 2020 Long Term Incentive Plan

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

276,166







d)

 

Aggregated information




- Aggregated volume

276,166



- Price

Nil



e)

Date of the transaction

12 July 2023

f)

Place of the transaction

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andy Jones

2

 

Reason for the notification

a)

Position/status

PDMR, Chief Financial Officer

b)

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Safestore Holdings plc

b)

LEI

213800WGA3YSJC1YOH73

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



Identification code

GB00B1N7Z094



b)

 

Nature of the transaction

Grant of nil cost option under the Safestore 2020 Long Term Incentive Plan

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

141,016







d)

 

Aggregated information




- Aggregated volume

141,016



- Price

Nil



e)

Date of the transaction

12 July 2023

f)

Place of the transaction

Outside a trading venue

 

 

Enquiries:

 

Safestore Holdings plc

David Orr, Company Secretary                                             Tel: 020 8732 1500

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings