Director/PDMR Shareholding

RNS Number : 1952B

Unite Group PLC

12 April 2012

 

THE UNITE GROUP PLC (THE "COMPANY")

12 APRIL 2012

DEALINGS BY DIRECTORS

Pursuant to the long term incentive plan of the Company (which was approved by shareholders in May 2011), awards under that plan (in the form of nil cost options and HMRC approved options), were granted on 11 April 2012 to each of the Company's Executive Directors, namely Mr Mark Allan (Chief Executive), Mr Joe Lister (Chief Financial Officer), Mr Richard Simpson (Managing Director of Property), and Mr Richard Smith (Managing Director of Operations). Messrs Allan, Lister Simpson and Smith were awarded nil cost options in respect of 324,557 shares, 204,880 shares, 153,667 shares and 153,667 shares respectively and each of them was awarded HMRC approved options in respect of 5,390 shares. The HMRC approved options were each awarded at an option price of 185.5p per share, being the closing middle market price of the shares on the day prior to the date on which the options were granted.

The number of shares in respect of which Messrs Allan, Lister, Simpson and Smith may exercise the above referred to options will be determined following the three year measurement period attaching to those awards, by reference to the net asset value, net portfolio contribution and total shareholder return performance of the Company over that period. Two thirds of such of the options as become exercisable may be exercised on the third anniversary of the date of grant, with the remaining third becoming exercisable on the fourth anniversary of the date of grant.

Not taking account of options held by them, Mr Allan is interested in 966,483 shares in the Company, representing 0.60% of its issued share capital; Mr Lister is interested in 474,408 shares in the Company, representing 0.296% of its issued share capital; and Mr Simpson is interested in 157,266 shares in the Company, representing 0.098% of its issued share capital. Mr Smith currently holds no interest in the share capital of the Company.

Included in the above interests of Messrs Allan, Lister and Simpson are shares the subject of restricted share awards made to them in April 2009 and April 2010 under the Company's previous long term incentive plan (573,530 shares in the case of Mr Allan; 306,167 shares in the case of Mr Lister; and 145,851 shares in the case of Mr Simpson). The number of such shares that will unconditionally vest in Messrs Allan, Lister and Simpson pursuant to such awards will be determined following the end of the three year measurement periods attaching to those awards by reference to the net asset value and total shareholder return performance of the Company over the relevant period. The measurement period in relation to the awards made in 2009 has now ended and disclosure of the numbers of shares that have vested unconditionally in Messrs Allan, Lister and Simpson pursuant to those awards will be made following completion of the relevant calculations.

END.

 

END

 

 

RDSUURWRUVASARR