20 June 2017
PICTON PROPERTY INCOME LIMITED
(“Picton”, the “Company” or the “Group”)
GRANT OF AWARDS UNDER LONG TERM INCENTIVE PLAN
Picton (LSE:PCTN), the property investment company, announces that contingent share awards have been granted to Persons Discharging Managerial Responsibility (“PDMRs”) under the Picton Property Income Limited 2016 Long Term Incentive Plan (“LTIP”).
Each of the following PDMRs have, on 16 June 2017, been granted contingent share awards in the form of nil-cost options over the number of ordinary shares in Picton Property Income Limited, under the terms of the LTIP, as set out below:
|PDMR||Number of shares awarded|
The options awarded will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2020. The actual number of shares that will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 April 2017 to 31 March 2020. No consideration was paid for any of the awards and no consideration is due on vesting.
This notification is made in accordance with the Market Abuse Regulation.
For further information:
Jeremy Carey/James Verstringhe, 020 7920 3150, [email protected]
Picton Capital Limited
Michael Morris, 020 7011 9980, [email protected]
Note to Editors
Picton is an income focused property investment company listed on the London Stock Exchange. Picton can invest both directly and indirectly in commercial property across the United Kingdom.
With Net Assets of £441.9 million at 31 March 2017, the Company´s objective is to provide shareholders with an attractive level of income, together with the potential for capital growth by investing in the principal commercial property sectors. www.picton.co.uk