Issue of LTIP awards

RNS Number : 7680C

Capital & Regional plc

19 April 2017

 

19 April 2017

Capital & Regional plc ("the Company)

Issue of LTIP awards

Capital & Regional plc announces that Zedra Trust Company (Guernsey) Limited, the trustee of the Capital & Regional plc Employee Ownership Trust 2002 (the "Trustee") has today granted the following share awards of ordinary shares of £0.01  per share under The Capital & Regional plc 2008 Long Term Incentive Plan (the "Plan") to the following Directors/Persons Discharging Managerial Responsibility of the Company:

Ken Ford                      660,905

Charles Staveley           627,300

The exercise price for the awards granted is a maximum of £0.01 per share.  Performance conditions measured over a three year period will determine the extent to which the awards will vest.  Further detail on the performance conditions is provided on page 60 of the Company's Annual Report and Accounts for the year ended 30 December 2016.  A holding period applies such that, in normal circumstances, awards must be held for two years following the end of the performance period.  Malus and clawback provisions apply.  Awards were also made to approximately 50 members of staff.

An award of 1,260,504 ordinary shares will also be made to Lawrence Hutchings as soon as practicable upon him joining the Company as Chief Executive on 13 June 2017.

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For further information:

Capital & Regional:	Tel:  [phone]
Hugh Scott-Barrett, Chief Executive
Charles Staveley, Group Finance Director

 

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