Director/PDMR Shareholding

RNS Number : 6096U

Great Portland Estates PLC

30 July 2020

 

DIRECTOR/PDMR SHAREHOLDING 

30 July 2020

Great Portland Estates plc (the "Company" or "GPE")

Grant of Awards under the GPE Long-Term Incentive Plan (the "LTIP")

The Company announces that on 29 July 2020, the following Directors were granted awards over Ordinary Shares of 15 ⁵ / ₁₉ pence each in the Company under the LTIP, the number of shares being calculated using a market price of 580.60 pence per share: 

Director	Date of Grant	Performance Award Number of Shares	Vesting Date	Date Exercisable
Toby Courtauld	29.07.20	317,906	29.07.23	29.07.25
Nick Sanderson	29.07.20	218,722	29.07.23	29.07.25

As outlined in the Directors' remuneration policy approved by shareholders on 24 July 2020, the Remuneration Committee has discretion to override and reduce formulaic outcomes under the LTIP awards should this be considered appropriate in the circumstances.

The vested shares will be subject to a two-year holding period following the third anniversary of the date of grant.

The above awards were granted as nil cost options which are subject to the following criteria relating to the Company's performance over the three-year performance period:

Performance measure over 3 years	% of award	Vesting level			Start of measurement period
		20%	Straight-line vesting between these points	100%
Total Accounting Return	50%	868p		925p	1 April prior to grant
TSR against constituents of FTSE 350 Real Estate Sector (excluding agencies)	50%	Median		Upper quartile	Grant date

The Notification of Dealing Forms can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1.	Details of PDMR/person closely associated with them ("PCA")
a)	Name	Toby Courtauld
2.	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor
a)	Name	Great Portland Estates plc
b)	Legal Entity Identifier	213800JMEDD2Q4N1MC42
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	Ordinary shares of 15 5 / 19 p ISIN: GB00BF5H9P87
b)	Nature of the transaction	Grant of a nil cost option performance share award under the Company's Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price	Volume(s)
	Ordinary shares	Nil consideration	317,906
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	Aggregated volume: 317,906 Aggregated price: 0.0p Aggregated total: 317,906 ordinary shares
e)	Date of transaction	29 July 2020
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR/person closely associated with them ("PCA")
a)	Name	Nick Sanderson
2.	Reason for the notification
a)	Position/status	Finance & Operations Director
b)	Initial notification/amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor
a)	Name	Great Portland Estates plc
b)	Legal Entity Identifier	213800JMEDD2Q4N1MC42
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	Ordinary shares of 15 5 / 19 p ISIN: GB00BF5H9P87
b)	Nature of the transaction	Grant of a nil cost option performance share award under the Company's Long Term Incentive Plan
c)	Price(s) and volume(s)	Price	Volume(s)
	Ordinary shares	Nil consideration	218,722
d)	Aggregated information - Aggregated volume - Aggregated price - Aggregated total	Aggregated volume: 218,722 Aggregated price: 0.0 p Aggregated total: 218,722 ordinary shares
e)	Date of transaction	29 July 2020
f)	Place of the transaction	Outside a trading venue

Contacts:
Great Portland Estates plc	+44	(0)		20	7647			3000
Darren Lennark, Company Secretary
Stephen Burrows, Director of Financial Reporting and Investor Relations

 

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