REG - Duke Royalty Limited - Director/PDMR Dealings

Duke CapitalAnnouncement

28/07/2023 07:00

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RNS Number : 4838H  Duke Royalty Limited  28 July 2023

28 July 2023

 

Duke Royalty Limited

("Duke Royalty", "Duke" or the "Company")

Performance Share Awards ("PSAs")

Issue of Equity

Director/PDMR Dealings

 

New grant under LTIP

 

 

Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions
to a diversified range of profitable and long-established businesses in Europe
and abroad, announces that the Company's Remuneration Committee has approved
the grant of a total of 3,662,900 conditional rights to acquire ordinary
shares of no par value (PSAs) under the Company's Long-Term Incentive Plan
("LTIP"). The LTIP framework was detailed within the Company's Admission
Document which was published on 20 March 2017 and was put into place post
Admission.

 

PSAs for the financial year to 31 March 2023 have been granted are as follows:

 

 Neil Johnson                 847,100
 Charlie Cannon Brookes       762,400
 Other employees (non-PDMRs)  2,053,400
 Total                        3,662,900

 

The PSAs vest after a period of three years and are subject to various
performance conditions outlined in the Company's admission document (and
available on the Company's website) and set by the Remuneration Committee, all
in accordance with the LTIP rules. The PSAs will be subject to performance
conditions, (50 per cent. based on growth in total shareholder return ("TSR")
and 50 per cent. on growth in total cash available for distribution per share
("TCAD per Share")). TSR can be defined as the returns generated by
shareholders based on the combined value of the dividends paid out by the
Company and the share price performance over the period in question.

 

Vesting of 2020 PSAs, transfer from EBT & Director/PDMR interests

 

The Company also announces that a total of 7,665,000 PSAs, previously granted
under the Company's LTIP in relation to the financial year ended 31 March
2020, have vested, representing 100% of the PSAs granted at that time.

 

Following the various transactions detailed above, the following Directors /
PDMRs have the following total interest in ordinary shares:

 

 

 Director/PDMR               Total ordinary shares held
 Neil Johnson (1)            7,129,173
 Charlie Cannon Brookes (2)  10,000,000

 

 

(1)  Mr Johnson is Abingdon Capital Corporation's sole voting shareholder
which legally owns 2,123,149 ordinary shares included within this figure.

 

(2)  Mr Cannon Brookes a Director and shareholder of Arlington Asset
Management Limited ("Arlington"). This figure includes 4,000,000 ordinary
shares legally owned by Arlington.

 

 

Total voting rights and EBT shares

 

In order to maintain an appropriate level of headroom within the Company's
EBT, the Company has issued 3,954,700 new ordinary shares into the Duke
Royalty Employee Benefit Trust ("EBT"), ownership of which shall be
transferred, in part or in full, to individual beneficiaries, subject to
achievement of the performance criteria following the vesting period.
Application has been made for these 3,954,700 shares to be admitted to trading
on AIM, which is expected to occur on 31 July 2022 ("Admission").

 

Following Admission and transfer of the 3,954,700 shares to LTIP
beneficiaries, the Company will have 421,488,734 ordinary shares in issue
admitted to trading on AIM, of which 6,062,700 will be held by the EBT. This
figure (421,488,734) may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to, their interest in the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.

 

 

 

For further information, please contact www.dukeroyalty.com
(http://www.dukeroyalty.com/) , or contact:

 

 Duke Royalty Limited     Neil Johnson / Charles Cannon Brookes / Hugo Evans  +44 (0) 1481 231 816

 Cenkos Securities plc    Stephen Keys / Callum Davidson / Michael Johnson    +44 (0) 207 397 8900

 (Nominated Adviser

 and Joint Broker)

 Canaccord Genuity        Adam James / Harry Rees                             +44 (0) 207 523 8000

 (Joint Broker)

 SEC Newgate (PR)         Elisabeth Cowell / Alice Cho / Matthew Elliott      +44 (0) 20 3757 6882 dukeroyalty@secnewgate.co.uk

 

 

 

 

Notifications of dealings by PDMRs:

 

 1.  Details of the person discharging managerial responsibilities/persons closely
     associated
 a)  Name                                                                            Neil Johnson
 2.  Reason for notification
 a)  Position/Status                                                                 Chief Executive Officer
 b)  Initial notification/amendment                                                  Initial
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                            Duke Royalty Limited
 b)  LEI                                                                             213800GUTKPSJ39SER44
 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 and identification  Ordinary shares of nil par value
     code

                                                                                     GG00BYZSSY63
 b)  Nature of transaction                                                           Grant of conditional performance share awards under LTIP
 c)  Price(s) and volume(s)                                                          Price(s)  Volume(s)
                                                                                     N/A       847,100
 d)  Aggregated Information                                                          n/a
 e)  Date of transaction                                                             Award date: 27 July 2023
 f)  Place of transaction                                                            Outside a trading venue

d)

Aggregated Information

n/a

e)

Date of transaction

Award date: 27 July 2023

f)

Place of transaction

Outside a trading venue

 

 1.  Details of the person discharging managerial responsibilities/persons closely
     associated
 a)  Name                                                                            Neil Johnson
 2.  Reason for notification
 a)  Position/Status                                                                 Chief Executive Officer
 b)  Initial notification/amendment                                                  Initial
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                            Duke Royalty Limited
 b)  LEI                                                                             213800GUTKPSJ39SER44
 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 and identification  Ordinary shares of nil par value
     code

                                                                                     GG00BYZSSY63
 b)  Nature of transaction                                                           Acquisition of ordinary shares following vesting of conditional performance
                                                                                     share awards under LTIP
 c)  Price(s) and volume(s)                                                          Price(s)  Volume(s)
                                                                                     N/A       1,500,000
 d)  Aggregated Information                                                          n/a
 e)  Date of transaction                                                             27 July 2023
 f)  Place of transaction                                                            Outside a trading venue

d)

Aggregated Information

n/a

e)

Date of transaction

27 July 2023

f)

Place of transaction

Outside a trading venue

 

 1.  Details of the person discharging managerial responsibilities/persons closely
     associated
 a)  Name                                                                            Charlie Cannon Brookes
 2.  Reason for notification
 a)  Position/Status                                                                 Executive Director
 b)  Initial notification/amendment                                                  Initial
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                            Duke Royalty Limited
 b)  LEI                                                                             213800GUTKPSJ39SER44
 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 and identification  Ordinary shares of nil par value
     code

                                                                                     GG00BYZSSY63
 b)  Nature of transaction                                                           Grant of conditional performance share awards under LTIP
 c)  Price(s) and volume(s)                                                          Price(s)  Volume(s)
                                                                                     N/A       762,400
 d)  Aggregated Information                                                          n/a
 e)  Date of transaction                                                             Award date: 27 July 2023
 f)  Place of transaction                                                            Outside a trading venue
 1.  Details of the person discharging managerial responsibilities/persons closely
     associated
 a)  Name                                                                            Charlie Cannon Brookes
 2.  Reason for notification
 a)  Position/Status                                                                 Executive Director
 b)  Initial notification/amendment                                                  Initial
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                            Duke Royalty Limited
 b)  LEI                                                                             213800GUTKPSJ39SER44
 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 and identification  Ordinary shares of nil par value
     code

                                                                                     GG00BYZSSY63
 b)  Nature of transaction                                                           Acquisition of ordinary shares following vesting of conditional performance
                                                                                     share awards under LTIP
 c)  Price(s) and volume(s)                                                          Price(s)  Volume(s)
                                                                                     N/A       1,450,000
 d)  Aggregated Information                                                          n/a
 e)  Date of transaction                                                             27 July 2023
 f)  Place of transaction                                                            Outside a trading venue

d)

Aggregated Information

n/a

e)

Date of transaction

Award date: 27 July 2023

f)

Place of transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities/persons closely
associated

a)

Name

Charlie Cannon Brookes

2.

Reason for notification

a)

Position/Status

Executive Director

b)

Initial notification/amendment

Initial

3.

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Duke Royalty Limited

b)

LEI

213800GUTKPSJ39SER44

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 and identification
code

Ordinary shares of nil par value

GG00BYZSSY63

b)

Nature of transaction

Acquisition of ordinary shares following vesting of conditional performance
share awards under LTIP

c)

Price(s) and volume(s)

 Price(s)  Volume(s)
 N/A       1,450,000

d)

Aggregated Information

n/a

e)

Date of transaction

27 July 2023

f)

Place of transaction

Outside a trading venue

 

 

 

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