REG - Real Estate Investrs - Vesting of LTIP Awards

Real Estate InvestorsAnnouncement

28/03/2025 07:15

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RNS Number : 5703C  Real Estate Investors PLC  28 March 2025

Real Estate Investors Plc

("REI" or the "Company")

 

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 commercial property across
all sectors, is pleased to announce that share awards made on 20 June 2022 to
directors of the Company vested on 27 March 2025 at 50% (based on performance
conditions) in the following amounts: Paul Bassi (Chief Executive) 185,654
ordinary shares; and Marcus Daly (Finance Director) 116,034 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.

 

In accordance with the Shorter Term Incentive Plan ("STIP") announced on 29
January 2024, these awards have been reduced by two thirds.

 

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

 

Enquiries:

 Real Estate Investors Plc
 Paul Bassi/Marcus                                                              +44 (0)121 212 3446
 Daly

 Cavendish Capital Markets Limited (Nominated Adviser)
 Katy Birkin/Ben                                                                +44 (0)20 7220 0500
 Jeynes

 Panmure Liberum Limited (Broker)
 Jamie Richards/William King                                                    +44(0)20 3100 2000

 

About Real Estate Investors Plc

 

Real Estate Investors Plc is a publicly quoted, internally managed property
investment company and REIT with a portfolio 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 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 announced in January 2024 that it would be
undertaking an orderly strategic sale of the Company's portfolio over three
years, disposing of assets individually or collectively, at or above book
value, to optimise returns to shareholders.  The pace of the disposal
programme will be dictated by market conditions, with an initial focus on
repaying the Company's debt.  In the meantime, it is the Board's intention to
continue paying a fully covered quarterly dividend. 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.   185,654

     2.   Nil                                                                                              2.   116,034
 d)  Aggregated information

     Aggregated volume                                            N/A

     Price                                                        N/A

 e)  Date of the transaction                                      27 March 2025

 f)  Place of the transaction                                     Outside of a trading venue

 

 

 

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