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RNS Number : 2999E Real Estate Investors PLC 29 June 2023
Real Estate Investors Plc
("REI" or the "Company")
Q1 2023 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 1.37 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 2023 dividend of 0.625 pence per share for the period 1 April 2023 to 30
June 2023 (Q1 2022: 0.8125 pence per share). The payment will be made on
28 July 2023 to all shareholders on the register as at 1 July 2023. The
ex-dividend date will be 6 July 2023. This dividend will be an Ordinary
Distribution.
The Company also announces that on 28 June 2023 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 2,306,452 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 1,419,355 April 2025
Marcus Daly 887,097 April 2025
In addition, share awards made on 27 March 2020 to directors of the Company
vested yesterday at 50% (based on performance conditions) in the following
amounts: Paul Bassi (Chief Executive) 628,571 ordinary shares; and Marcus Daly
(Finance Director) 392,857 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
About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted, internally managed property
investment company and REIT with a portfolio of 1.37 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 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 1. Paul Bassi
2. Marcus Daly
2 Reason for the notification
a) Position/status 1. Chief Executive
2. Finance 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 Ordinary shares of 10p each
Identification code GB00B45XLP34
b) Nature of the transaction Award of share options Real Estate Investors Plc Senior Executives Long Term
Incentive Plan
c) Price(s) and volumes(s) Price(s) Volume(s)
1. Nil 1. 1,419,355
2. Nil 2. 887,097
d) Aggregated information
Aggregated volume N/A
Price N/A
e) Date of the transaction 28 June 2023
f) Place of the transaction Outside of a trading venue
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