Source - RNS
RNS Number : 5932I
LondonMetric Property PLC
20 June 2017
 

20 June 2017

LONDONMETRIC PROPERTY PLC

PDMR/DIRECTOR DEALINGS

 

LondonMetric Property Plc ("LondonMetric" or "Company") announces the granting of share incentive awards, vesting of previous share awards and part disposal by Directors of  vested shares to meet associated tax liabilities.

 

SHARE INCENTIVE AWARDS

 

In relation to the financial year ended 31 March 2017, LondonMetric granted the following incentive awards on 16 June 2017 over ordinary shares of 10 pence each ("Shares"):

·      nil cost options over 2,163,274 shares under the Company's Long Term Incentive Plan ("LTIP"); and

·      608,280 deferred Shares under the Company's deferred bonus plan.

 

Awards to notifiable interests are set out below.


Options awarded

 under the LTIP

Shares  awarded under the

deferred bonus plan

Andrew Jones

619,500

222,852

Martin McGann

335,402

124,088

Valentine Beresford

353,190

130,670

Mark Stirling

353,190

130,670

Andrew Smith

118,652

-

 

Vesting of Shares awarded under the 2017 LTIP is subject to total shareholder return, total accounting return and earnings performance conditions measured over a three year period.

 

VESTING AND PART DISPOSAL OF SHARES ARISING FROM PRIOR AWARDS

 

In respect of prior year share awards, the following Shares have vested:

·      2,212,076 Shares relating to grants under the Company's LTIP on 19 June 2014

·      606,160 Shares relating to grants under the Company's Deferred Bonus Plan on 19 June 2014, 11 June 2015 and 8 June 2016.

 

Vesting of notifiable interests are set out below, along with details of disposals by the Company's executive directors that were undertaken in order to meet tax liabilities arising from vesting of Shares.

 


LTIP

Shares vested

Bonus Shares vested4

Shares disposed1

Net increase in holding2

Resultant beneficial holding

Andrew Jones

666,484

230,026

422,630

473,880

3,371,802

Martin McGann3

341,701

117,092

294,410

164,383

2,767,531

Valentine Beresford

359,826

129,521

230,688

258,659

2,757,059

Mark Stirling

359,826

129,521

230,688

258,659

2,250,721

Andrew Smith

134,317

-    

63,319

70,998

184,498

 

1.     Shares were disposed on 19 June 2017 at a price of 171.65 pence per Share

2.     Shares that vested and were not disposed have been pledged by Andrew Jones, Valentine Beresford and Mark Stirling 

3.     Included in the disposal amount for Martin McGann are additional Shares disposed to meet tax liabilities and other costs arising from the vesting on 28 November 2016 of 197,446 LTIP shares granted on 27 November 2013

4.     Inclusive of entitlement to the fourth quarter dividend

 

Further information on remuneration, the LTIP, the deferred bonus plan and pledging is contained in the Company's 2017 Annual Report.

 

 

 

-Ends-

 

 

For further information, please contact:

 

LondonMetric Property Plc

Andrew Jones / Martin McGann

Tel: +44 (0) 20 7484 9000

 

FTI Consulting

Dido Laurimore/Tom Gough/Richard Gotla

Tel: +44 (0) 20 3727 1000

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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