REG - Circle Property PLC - Result of GM and Vesting/Lapsing of LTIP Awards

Circle PropertyAnnouncement

09/03/2022 14:15

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RNS Number : 2239E  Circle Property PLC  09 March 2022

9 March 2022

 

 

Circle Property Plc

("Circle" or the "Company")

 

Result of General Meeting and Vesting/Lapsing of LTIP Awards

 

 

Circle Property Plc (AIM: CRC), which invests in, develops and actively
manages well-located regional office assets, is pleased to announce that both
resolutions put to shareholders at the Company's General Meeting held today
were duly passed.

 

 The total votes were cast as follows:

 

 Resolution  For         %     Against  %
 1           16,086,286  99.9  1,040    0.01
 2           16,086,326  99.9  1,000    0.01

 

The disposal of Kents Hill Park Conference Centre, as detailed in the circular
sent to shareholders on 14 February 2022 (the "Circular"), is expected to
complete on 25 March 2022.

 

In addition, as detailed in the Circular and the announcement dated 14
February 2022, under the revised remuneration arrangements for the executive
directors, the Board has determined that previously unvested LTIP awards
granted in 2019 and 2020 vested to a limited extent on 8 March 2022.

 

The 2019 LTIP awards vested at 43.75% (based on performance conditions) in the
following amounts: John Arnold (Chief Executive) 68,621 ordinary shares; and
Edward Olins (Chief Operating Officer) 61,453 ordinary shares.  The 2020 LTIP
awards vested at 25.00% (based on performance conditions) in the following
amounts: John Arnold - 19,509 ordinary shares; and Edward Olins - 17,558
ordinary shares.

 

The executive directors now have the right to be issued with the ordinary
shares awarded (for nil consideration) although such issues have not yet
occurred and remain subject to the exercise by the directors of their right.

 

The unvested LTIP awards granted in 2021 to the executive directors have
lapsed in full and no further awards shall be granted under the LTIP in 2022
or going forwards.

 

The notifications below, made in accordance with the requirements of the UK
Market Abuse Regulation, provide further detail.

 

Enquiries:

 

 Circle Property Plc                     +44 (0)20 7930 8503
 John Arnold, CEO

 Edward Olins, COO

 Cenkos Securities plc                  +44 (0)20 7397 8900
 Katy Birkin

 Mark Connelly

 Radnor Capital                         +44 (0)20 3897 1830

 Joshua Cryer

 Iain Daly

 Camarco                                +44 (0)20 3757 4980
 Ginny Pulbrook

 Toby Strong

 

 

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                                                         John Arnold
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Circle Property plc
 b)  LEI                                                          213800THDWL3FB11M760
 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 of no par value
     Identification code                                          JE00BYP0CK63
 b)  Nature of the transaction                                    Vesting of options to acquire Ordinary Shares under awards granted in 2019
 c)  Price(s) and volumes(s)                                      Price(s)                                Volume(s)
     Nil                                                                                                  68,621
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      8 March 2022
 f)  Place of the transaction                                     XOFF

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Edward Olins
 2   Reason for the notification
 a)  Position/status                                              Chief Operating Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Circle Property plc
 b)  LEI                                                          213800THDWL3FB11M760
 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 of no par value
     Identification code                                          JE00BYP0CK63
 b)  Nature of the transaction                                    Vesting of options to acquire Ordinary Shares under awards granted in 2019
 c)  Price(s) and volumes(s)                                      Price(s)                                Volume(s)
     Nil                                                                                                  61,453
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      8 March 2022
 f)  Place of the transaction                                     XOFF

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         John Arnold
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Circle Property plc
 b)  LEI                                                          213800THDWL3FB11M760
 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 of no par value
     Identification code                                          JE00BYP0CK63
 b)  Nature of the transaction                                    Vesting of options to acquire Ordinary Shares under awards granted in 2020
 c)  Price(s) and volumes(s)                                      Price(s)                                Volume(s)
     Nil                                                                                                  19,509
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      8 March 2022
 f)  Place of the transaction                                     XOFF

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Edward Olins
 2   Reason for the notification
 a)  Position/status                                              Chief Operating Officer
 b)  Initial notification/Amendment                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Circle Property plc
 b)  LEI                                                          213800THDWL3FB11M760
 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 of no par value
     Identification code                                          JE00BYP0CK63
 b)  Nature of the transaction                                    Vesting of options to acquire Ordinary Shares under awards granted in 2020
 c)  Price(s) and volumes(s)                                      Price(s)                                Volume(s)
     Nil                                                                                                  17,558
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      8 March 2022
 f)  Place of the transaction                                     XOFF

 

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