REG - Unite Group PLC - Director/PDMR Shareholding

UniteAnnouncement

10/04/2024 15:15

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RNS Number : 0387K  Unite Group PLC (The)  10 April 2024

THE UNITE GROUP PLC (THE "COMPANY")

10 April 2024

GRANT OF OPTIONS AND DIRECTORS' INTERESTS

Pursuant to the long term incentive plan of the Company, awards have been
granted to the Company's Executive Directors, namely Mr Joe Lister (Chief
Executive Officer) and Mr Michael Burt (Chief Financial Officer) on 9 April
2024 as follows:

 Director      Nil cost options  HMRC approved options
 Joe Lister    127,737           631
 Michael Burt  82,840            631

 

The HMRC approved options were awarded at an option price of 949.5p per share,
being the closing middle market price of the shares on the day prior to the
date on which the options were granted.

The number of shares in respect of which Messrs Lister and Burt may exercise
these options will be determined following the three-year measurement period
ending 31 December 2026.  The number of awards vesting will be determined by
reference to performance conditions consistent with the prior two years and
comprising: EPRA adjusted earnings per share ('EPS'), relative total
accounting return, relative total shareholder return, operational energy
intensity and energy performance certificate ('EPC') ratings.  A two-year
holding period applies to these options, such that options vesting may only be
exercised from 9 April 2029, the fifth anniversary of the date of grant.

Performance targets applying to the total accounting return, relative total
shareholder return, operational energy intensity and EPC rating elements are
disclosed prospectively in the 2023 Directors' Remuneration Report ('DRR').

As noted in the 2023 DRR, the Remuneration Committee (the 'Committee') took
the decision to delay target setting for the EPS element of the award and
committed to disclose this no later than the time of award.  The Committee
can now confirm the performance targets for the EPS element as follows:

 Measure        Threshold vesting  Maximum vesting

(25% of element)
(100% of element)
 2026 EPRA EPS  50.0 pence         53.0 pence

 

The Committee considers that these targets are appropriate and stretching,
taking into account the Company's strategic priorities and the broader
macroeconomic environment, and having reviewed a range of relevant internal
and external reference points.

This notification is made in accordance with the requirements of the Market
Abuse Regulation.

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Joe Lister

 2    Reason for the notification

 a)   Position/status                                              Chief Executive Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         The Unite Group plc

 b)   LEI                                                          213800BBUUWVDH9YI827

 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 25p each

      Identification code

                                                                   GB0006928617
 b)   Nature of the transaction                                    Grant of LTIP options

Price(s)  Volume(s)
 c)   Price(s) and volume(s)                                       949.5p    127,737

                                                                 949.5p    631

 

 d)   Aggregated information

      - Aggregated volume                                          128,368

      - Price                                                      949.5p

 e)   Date of the transaction                                      9 April 2024

 f)   Place of the transaction                                     London Stock Exchange

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Michael Burt

 2    Reason for the notification

 a)   Position/status                                              Chief Financial Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         The Unite Group plc

 b)   LEI                                                          213800BBUUWVDH9YI827

 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 25p each

      Identification code

                                                                   GB0006928617

 b)   Nature of the transaction                                    Grant of LTIP options

Price(s)  Volume(s)
 c)   Price(s) and volume(s)                                       949.5p    82,840

                                                                 949.5p    631

 d)   Aggregated information

      - Aggregated volume                                          83,471

      - Price                                                      949.5p

 e)   Date of the transaction                                      9 April 2024

 f)   Place of the transaction                                     London Stock Exchange

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

128,368

 

949.5p

 

e)

 

Date of the transaction

 

9 April 2024

f)

 

Place of the transaction

 

London Stock Exchange

 

1

 

 

Details of the person discharging managerial responsibilities / person closely
associated

a)

 

Name

 

Michael Burt

 

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer

b)

 

Initial notification /Amendment

Initial notification

3

 

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

 

a)

 

Name

 

The Unite Group plc

b)

 

LEI

 

213800BBUUWVDH9YI827

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

 

Identification code

 

 

Ordinary shares of 25p each

 

 

GB0006928617

 

b)

 

Nature of the transaction

Grant of LTIP options

 

c)

 

 

Price(s) and volume(s)

 

 Price(s)  Volume(s)
 949.5p    82,840
 949.5p    631

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

83,471

 

949.5p

e)

 

Date of the transaction

 

9 April 2024

f)

 

Place of the transaction

 

London Stock Exchange

 

For further information, please contact:

 Unite Students

 Christopher Szpojnarowicz, Company Secretary   Tel: +44 117 302 7120

END

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