Vesting of LTIP Awards

Circle Property

17/05/2021 07:00

RNS Number : 7565Y

Circle Property PLC

17 May 2021

 

17 May 2021

Circle Property Plc

("Circle" or the "Company")

 

Vesting of LTIP Awards

 

Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, announces that share awards made on 20 August 2019 to the executive directors of the Company under the Circle Property Plc 2016 Long Term Incentive Plan ("LTIP") in relation to the Performance Period (as such term is defined in the LTIP) commencing on 1 April 2018, vested on 14 May 2021 at 100% (based on performance conditions) in the following amounts: John Arnold (Chief Executive) 141,023 ordinary shares; and Edward Olins (Chief Operating Officer) 126,921 ordinary shares.  The 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 notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

 

 

Circle Property Plc
+44 (0)207 930 8503
John Arnold, CEO
Edward Olins, COO
Cenkos Securities
+44 (0)207 397 8900
Katy Birkin
Mark Connelly
Radnor Capital
+44 (0)203 897 1830
Joshua Cryer
Iain Daly
Camarco
+44 (0)203 757 4992
Ginny Pulbrook
Oliver Head


 

 

About Circle Property Plc

 

Circle is the top performing quoted UK real estate company by NAV total return (NAV growth and dividend) over the last 3 years. 

 

Circle focusses on acquiring assets in regional cities, many of which have significant office supply constraints, and on office assets with active management potential (refurbishment opportunities, under-rented or vacant properties or short leases), rather than just maximising initial rental yields.

 

Circle is not a Real Estate Investment Trust (REIT) and can actively recycle proceeds from asset sales into its refurbishment and redevelopment pipeline, as well as future investment opportunities, therefore targeting a broader range of returns for shareholders, which are primarily driven by NAV growth.

 

 

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
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
Nil
141,023
d)
Aggregated information
N/A single transaction
Aggregated volume
N/A single transaction
Price
N/A single transaction
e)
Date of the transaction
14 May 2021
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
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
Nil
126,921
d)
Aggregated information
N/A single transaction
Aggregated volume
N/A single transaction
Price
N/A single transaction
e)
Date of the transaction
14 May 2021
f)
Place of the transaction
XOFF

 

 

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