REG - Supermarket Inc REIT - Establishment of LTIP and PDMR Shareholding

Supermarket Income REITAnnouncement

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RNS Number : 4478N  Supermarket Income REIT PLC  19 June 2025

19 June 2025

 

SUPERMARKET INCOME REIT PLC 

(the "Company") 

 

Establishment of Long Term Incentive Plan and grant of 2025 LTIP awards

 

Notification and public disclosure of transactions by PDMRs

  

Supermarket Income REIT plc (LSE: SUPR), announces the establishment of its
Long Term Incentive Plan (the "LTIP"), following consultation with a number of
its largest shareholders and as outlined in the Directors' Remuneration Policy
in the circular published on 4 March 2025 in relation to the internalisation
of the Company's management function (the "Internalisation"). The Board
recognises the importance of equity incentive schemes as a means to
incentivise the Executive Directors, ensuring alignment with the objectives of
the Company and its shareholders.

 

The Company announces that it has granted awards in the form of nominal cost
options ("LTIP Awards") over ordinary shares of the Company of £0.01 each
("Shares") pursuant to the LTIP, on 17 June 2025 to the Executive Directors
listed below:

 

 Director      Number of Shares under

               LTIP Award
 Rob Abraham   993,377
 Mike Perkins  728,476

 

The exercise price for each LTIP Award is £0.01 per Share, being the nominal
cost of a Share. Vesting of the LTIP Awards is subject to continued service
and satisfaction of performance conditions relating to the following metrics:

 

(i)            Relative Total Shareholder Return ("TSR") measured
against the constituents of the FTSE 350 Real Estate sector excluding agencies
(50% weighting). 25% of this part of an award will vest for median TSR,
increasing pro-rata to 100% of this part of an award vesting for upper
quartile TSR as measured from completion of the Internalisation to the
publication of the 2028 financial year results;

 

(ii)           Adjusted earnings per share ("EPS") performance for
the 2028 financial year (25% weighting). 25% of this part of an award will
vest for the 2028 financial year EPS of 6.3p increasing pro-rata to 100% of
this part of an award vesting for the 2028 financial year EPS of 7.0p; and

 

(iii)          Total accounting return ("TAR") during the 2026, 2027
and 2028 financial years (25% weighting). 25% of this part of an award will
vest for TAR of 5% p.a. increasing pro-rata to 100% of this part of an award
vesting for TAR of 10% p.a..

 

In addition to the performance conditions outlined above, the Remuneration
Committee will retain discretion to adjust any formulaic outcome for the LTIP
Awards if it considers it necessary to take account of its broader assessment
of Company or executive performance and the stakeholder experience more
generally over the vesting period.

 

The vesting date of the 2025 LTIP Awards will be the date of publication of
results for the 2028 financial year.

 

A holding period of two years from the date of vesting applies to the LTIP
Awards granted to the Executive Directors (and any Shares resulting from the
LTIP Awards).

 

The following notifications are made in accordance with the requirements of
Article 19 of the UK Market Abuse Regulation.

 

 

 1   Details of the person discharging managerial responsibilities/persons

     closely associated
 a)  Name                                                                                               Rob Abraham
 2   Reason for notification
 a)  Position/Status               Chief Executive Officer
 b)  Initial                       Initial notification

     notification/amendment
 3   Details of the issuer, emission allowance market participant, auction

     platform, auctioneer or auction monitor
 a)  Name                          Supermarket Income REIT plc
 b)  LEI                           2138007FOINJKAM7L537
 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                                Ordinary Shares of £0.01 each ISIN: GB00BF345X11

     instrument, type of instrument and identification code
 b)  Nature of transaction                                       Grant of a nominal cost option over Shares under the Company's Long Term
                                                                 Incentive Plan
 c)  Price(s) and volume(s)                                      Price(s)  Volume(s)
                                                                 Nil       993,377

 

 

 

 d)  Aggregated Information                                      Not applicable - single transaction
 e)  Date of transaction                                         17 June 2025
 f)  Place of transaction                                        Outside of a trading venue

 

 

d)

Aggregated Information

Not applicable - single transaction

e)

Date of transaction

17 June 2025

f)

Place of transaction

Outside of a trading venue

 

 

 1   Details of the person discharging managerial responsibilities/persons

     closely associated
 a)  Name                          Mike Perkins
 2   Reason for notification
 a)  Position/Status               Chief Financial Officer
 b)  Initial                       Initial notification

     notification/amendment
 3   Details of the issuer, emission allowance market participant, auction

     platform, auctioneer or auction monitor
 a)  Name                          Supermarket Income REIT plc
 b)  LEI                           2138007FOINJKAM7L537
 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                                Ordinary Shares of £0.01 each ISIN: GB00BF345X11

     instrument, type of instrument and identification code
 b)  Nature of transaction                                       Grant of a nominal cost option over Shares under the Company's Long Term
                                                                 Incentive Plan
 c)  Price(s) and volume(s)                                      Price(s)  Volume(s)
                                                                 Nil       728,476

 

 

 

 d)  Aggregated Information                                      Not applicable - single transaction
 e)  Date of transaction                                         17 June 2025
 f)  Place of transaction                                        Outside of a trading venue

 

 

d)

Aggregated Information

Not applicable - single transaction

e)

Date of transaction

17 June 2025

f)

Place of transaction

Outside of a trading venue

 

 

 FOR FURTHER INFORMATION                                                                                                  
 Supermarket Income REIT plc                                                                                             ir@suprplc.com  
 Rob Abraham / Mike Perkins / Chris McMahon

 Stifel Nicolaus Europe Limited                                                                                          +44 (0)20 7710 7600 
 Mark Young / Rajpal Padam / Catriona Neville                                                                             
                                                                                                                          
 Goldman Sachs International                                                                                             +44 (0)20 7774 1000

 Tom Hartley / Luca Vincenzini

 FTI                                                                                                                     +44 (0)20 3727 1000 
 Consulting                                                    
 Dido Laurimore / Eve Kirmatzis / Andrew Davis                                                                           SupermarketIncomeREIT@fticonsulting.com  

 

NOTES TO EDITORS: 

 

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate
investment trust dedicated to investing in grocery properties which are an
essential part of the feed the nation infrastructure. The Company focuses on
grocery stores which are omnichannel, fulfilling online and in-person sales.
The Company's supermarkets are let to leading supermarket operators in the UK
and Europe, diversified by both tenant and geography. 

 

The Company's assets earn long-dated, secure, inflation-linked, growing
income. The Company targets a progressive dividend and the potential for
capital appreciation over the longer term.

 

The Company is listed on the closed-ended investment funds category of the
FCA's Official List and its Ordinary Shares are traded on the LSE's Main
Market. The Company also has a secondary listing on the Main Board of the JSE
Limited in South Africa.

 

Further information is available on the Company's
website www.supermarketincomereit.com (http://www.supermarketincomereit.com/)
 

 

LEI: 2138007FOINJKAM7L537 

 

 

Stifel Nicolaus Europe Limited, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting exclusively for
Supermarket Income REIT plc and no one else in connection with this
announcement and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Stifel Nicolaus Europe
Limited nor for providing advice in connection with the matters referred to in
this announcement.

 

Goldman Sachs International, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom, is acting exclusively for
Supermarket Income REIT plc and no one else in connection with this
announcement and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Goldman Sachs International
nor for providing advice in connection with the matters referred to in this
announcement.

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