Grant of Share Awards

Picton Property Income Limited

10 June 2024

 

 10 June 2024

PICTON PROPERTY INCOME LIMITED

('Picton' or the 'Company')

LEI: 213800RYE59K9CKR4497

GRANT OF SHARE AWARDS

Picton announces that the following awards have been granted to Persons Discharging Managerial Responsibility ('PDMRs').

Each of the following PDMRs have, on 6 June 2024, been granted awards over ordinary shares in Picton Property Income Limited, being contingent share awards in the form of nil-cost options under the terms of the Picton Property Income Limited 2016 Long Term Incentive Plan ('LTIP') and deferred awards under the terms of the Picton Property Income Limited 2018 Deferred Bonus Plan ('DBP'), as set out below:

PDMR	LTIP share award	DBP share award	DBP notional share award
Michael Morris	528,316	-	-
Saira Johnston	-	355,713	-
Jay Cable	232,047	-	111,160

The nil-cost options awarded under the LTIP will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2027. The actual number of shares that will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 April 2024 to 31 March 2027. No consideration was paid for any of the awards and no consideration is due on vesting.

The deferred awards under the DBP will vest, subject to continued employment, on 6 June 2026. No consideration was paid for the awards and no consideration is due on vesting.

This notification is made in accordance with the Market Abuse Regulation.

For further information:

Picton

Kathy Thompson, Company Secretary

020 7011 9988, [e-mail]

About Picton

Established in 2005, Picton is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index.

Picton owns and actively manages a £745 million UK commercial property portfolio, invested across 49 assets and with around 400 occupiers (as at 31 March 2024).

Through an occupier focused, opportunity led approach, Picton aims to be one of the consistently best performing diversified UK REITs and has delivered upper quartile outperformance and a consistently higher income return than the MSCI Quarterly Property Index since launch. 

With a portfolio strategically positioned to capture income and capital growth, currently weighted towards the industrial sector, Picton's agile business model provides flexibility to adapt to evolving market trends over the long-term.

Picton has a responsible approach to business and is committed to being net zero carbon by 2040.

For more information please visit: www.picton.co.uk

ENDS

 

END