29 March 2018
Real Estate Investors Plc
(“REI” or the “Company”)
Grant of awards
Real Estate Investors Plc (AIM:RLE), the London Stock Exchange listed Real Estate Investment Trust (REIT) with a portfolio of 1.5 million sq ft of commercial property in the Midlands property market across all sectors, announces that on 28 March 2018 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2010. The awards give rights to certain Directors to acquire a total of 1,336,449 ordinary shares of 10p each in the Company (“Ordinary Shares”) as detailed below at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return, with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 14% levels of annual return/growth are achieved.
|
Award Holder |
Number of Ordinary Shares under Award |
Expected Vesting Date |
|
Paul Bassi |
822,430 |
April 2021 |
|
Marcus Daly |
514,019 |
April 2021 |
Enquiries:
|
Real Estate Investors Plc Paul Bassi |
+44 (0)121 212 3446 |
|
Smith & Williamson Corporate Finance Limited Azhic Basirov/David Jones |
+44 (0)20 7131 4000 |
|
Liberum Jamie Richards/William Hall |
+44 (0)20 3100 2000 |
|
Gable Communications Limited John Bick |
+44 (0)20 7193 7463 +44 (0)7872 061 007 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Paul Bassi |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
PDMR (Director) |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Real Estate Investors Plc |
|
|
b) |
LEI |
21380015X5JMEGUHPD83 |
|
|
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 |
Share award, constituting a right to acquire ordinary shares of 10p each |
|
|
|
Identification code |
GB00B45XLP34 |
|
|
b) |
Nature of the transaction |
Grant of annual award under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan. The award gives rights to acquire ordinary shares in the Company (“Ordinary Shares”) at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date (April 2021) with full vesting if 14% levels of annual return/growth are achieved |
|
|
c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
nil |
822,430 |
||
|
d) |
Aggregated information |
||
|
|
Aggregated volume |
N/A – single transaction |
|
|
|
Price |
N/A – single transaction |
|
|
e) |
Date of the transaction |
28 March 2018 |
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||
|
a) |
Name |
Marcus Daly |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status |
PDMR (Director) |
|
|
b) |
Initial notification/Amendment |
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a) |
Name |
Real Estate Investors Plc |
|
|
b) |
LEI |
21380015X5JMEGUHPD83 |
|
|
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 |
Share award, constituting a right to acquire ordinary shares of 10p each |
|
|
|
Identification code |
GB00B45XLP34 |
|
|
b) |
Nature of the transaction |
Grant of annual award under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan. The award gives rights to acquire ordinary shares in the Company (“Ordinary Shares”) at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date (April 2021) with full vesting if 14% levels of annual return/growth are achieved |
|
|
c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s) |
|
nil |
514,019 |
||
|
d) |
Aggregated information |
||
|
|
Aggregated volume |
N/A – single transaction |
|
|
|
Price |
N/A – single transaction |
|
|
e) |
Date of the transaction |
28 March 2018 |
|
|
f) |
Place of the transaction |
Outside a trading venue |
|
END
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