Long Term Incentive Plan Awards

RNS Number : 7530G

Duke Royalty Limited

06 March 2018

 

6 March 2018

Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")

Long Term Incentive Plan ("LTIP") awards

Duke Royalty Limited (AIM: DUKE) announces that the Company's Remuneration Committee has approved the following Performance Share Awards ("PSA's") under the Company's Long Term Incentive Plan ("LTIP"). The LTIP framework was detailed within the Company's admission document which was published on 20 March 2017 as was to be put into place post Admission.  The Board has determined the issuance of the shares pursuant to part 5 of the admission document can now be issued as the LTIP has been approved and there are no close period restrictions. 

The PSA's for the financial year to 31 March 2017 are as follows:

Neil Johnson	500,000 ordinary shares
Charlie Cannon-Brookes	350,000 ordinary shares
Justin Cochrane	175,000 ordinary shares

The PSA's vest after a period of three years and are subject to various performance conditions outlined in the admission document and set by the Remuneration Committee, all in accordance with the LTIP rules.  The LTIP Awards will be subject to a performance condition based 50 per cent. on total shareholder return ("TSR") and 50 per cent. on total cash available for distribution per share ("TCAD per Share").  TSR can be defined as the returns generated by shareholders based on the combined value of the dividends paid out by the Company and the share price performance over the period in question.

Going forward PSA's will typically be announced within weeks after the Company's financial year results.

About Duke Royalty

Headquartered in Guernsey, Duke Royalty Limited provides alternative financing solutions to a diversified range of businesses in Europe and abroad. Duke Royalty's experienced team and exclusive partnership provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders.

Duke Royalty is listed on the AIM market under the ticker DUKE. For more information, visit dukeroyalty.com.

For further information:

Duke Royalty Limited	Neil Johnson / Charlie Cannon-Brookes
	[phone]
Grant Thornton UK LLP (Nominated Adviser)	Colin Aaronson / Samantha Harrison / Carolyn Sansom
	[phone]
Cenkos Securities plc (Joint Broker)	Julian Morse / Michael Johnson
	[phone]
Mirabaud Securities Limited (Joint Broker)	Peter Krens / Edward Haig-Thomas
	[phone]

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

END

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Johnson
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Duke Royalty Limited
b)	LEI	213800GUTKPSJ39SER44
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 GG00BYZSSY63
	Identification code
b)	Nature of the transaction	Purchase of Placing Shares pursuant to the Fundraising
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	500,000
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	6 March 2018
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Charlie Cannon-Brookes
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Duke Royalty Limited
b)	LEI	213800GUTKPSJ39SER44
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 GG00BYZSSY63
	Identification code
b)	Nature of the transaction	Purchase of Placing Shares pursuant to the Fundraising
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	350,000
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	6 March 2018
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Justin Cochrane
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Duke Royalty Limited
b)	LEI	213800GUTKPSJ39SER44
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 GG00BYZSSY63
	Identification code
b)	Nature of the transaction	Purchase of Placing Shares pursuant to the Fundraising
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	175,000
d)	Aggregated information
	- Aggregated volume
	- Price
e)	Date of the transaction	6 March 2018
f)	Place of the transaction	London Stock Exchange

 

END

 

 

MSCUVABRWAAORAR