REG - Real Estate Investrs - Q1 2022 Dividend Declaration and LTIP Awards
20/06/2022 17:15
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RNS Number : 5370P Real Estate Investors PLC 20 June 2022
Real Estate Investors Plc
("REI" or the "Company")
Q1 2022 Dividend Declaration / Grant and Vesting of LTIP Awards
Real Estate Investors Plc (AIM:RLE), the UK's only Midlands-focused Real
Estate Investment Trust (REIT), with a portfolio of 1.5 million sq ft of
commercial property across all sectors, is pleased to announce that in
accordance with its progressive dividend policy, REI will pay a fully covered
Q1 2022 dividend of 0.8125 pence per share for the period 1 April 2022 to 30
June 2022 (Q1 2021: 0.75 pence per share). The payment will be made on
22 July 2022 to all shareholders on the register as at 1 July 2022. The
ex-dividend date will be 30 June 2022. This dividend will be a Property
Income Distribution (PID).
The Company also announces that on 20 June 2022 it granted annual awards to
two Directors and other employees under the Real Estate Investors Plc Senior
Executives Long Term Incentive Plan adopted in 2021. The awards under the Plan
give rights to certain Directors to acquire a total of 1,810,127 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 12%
levels of annual return/growth are achieved.
Award Holder Number of Ordinary Expected Vesting Date
Shares under Award
Paul Bassi 1,113,924 April 2025
Marcus Daly 696,203 April 2025
In addition, share awards made on 25 March 2019 to directors of the Company
vested yesterday at 25.9% (based on performance conditions) in the following
amounts: Paul Bassi (Chief Executive) 219,492 ordinary shares; and Marcus Daly
(Finance Director) 137,183 ordinary shares. The directors now have the right
to be issued with the shares awarded (for nil or nominal 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, provides further detail.
Enquiries:
Real Estate Investors Plc
Paul Bassi/Marcus Daly +44 (0)121 212 3446
Cenkos Securities (Nominated Adviser) +44 (0)20 7397 8900
Katy Birkin/Ben Jeynes
Liberum (Broker) +44 (0)20 3100 2000
Jamie Richards/William King
Novella Communications +44 (0)20 3151 7008
Tim Robertson/Safia Colebrook
About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted, internally managed property
investment company and REIT with a portfolio of 1.5 million sq ft of mixed-use
commercial property, managed by a highly-experienced property team with over
100 years of combined experience of operating in the Midlands property market
across all sectors. The Company's strategy is to invest in well located,
real estate assets in the established and proven markets across the Midlands,
with income and capital growth potential, realisable through active portfolio
management, refurbishment, change of use and lettings. The portfolio has no
material reliance on a single asset or occupier. On 1st January 2015, the
Company converted to a REIT. Real Estate Investment Trusts are listed
property investment companies or groups not liable to corporation tax on their
rental income or capital gains from their qualifying activities. The Company
aims to deliver capital growth and income enhancement from its assets,
supporting its progressive dividend policy. Further information on the
Company can be found at www.reiplc.com (http://www.reiplc.com/) .
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 2025) with full vesting if 12% levels of annual
return/growth are achieved
c) Price(s) and volumes(s) Price(s) Volume(s)
nil 1,113,924
d) Aggregated information
Aggregated volume N/A - single transaction
Price N/A - single transaction
e) Date of the transaction 20 June 2022
f) Place of the transaction Outside of 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 2025) with full vesting if 12% levels of annual
return/growth are achieved
c) Price(s) and volumes(s) Price(s) Volume(s)
nil 696,203
d) Aggregated information
Aggregated volume N/A - single transaction
Price N/A - single transaction
e) Date of the transaction 20 June 2022
f) Place of the transaction Outside of a trading venue
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 Vesting of share award granted under the Real Estate Investors Plc Senior
Executives Long Term Incentive Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
nil 219,492
d) Aggregated information
Aggregated volume N/A - single transaction
Price N/A - single transaction
e) Date of the transaction 19 June 2022
f) Place of the transaction Outside of 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 Vesting of share award granted under the Real Estate Investors Plc Senior
Executives Long Term Incentive Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
nil 137,183
d) Aggregated information
Aggregated volume N/A - single transaction
Price N/A - single transaction
e) Date of the transaction 19 June 2022
f) Place of the transaction Outside of a trading venue
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