Source - LSE Regulatory
RNS Number : 6116Z
Safestore Holdings plc
25 January 2022
 

25 January 2022        

 

Safestore Holdings plc (the "Company")

 

Grant of Awards under the Safestore 2020 Long Term Incentive Plan

 

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

 

The Company announces that awards have been granted under the Safestore 2020 Long Term Incentive Plan ("2020 LTIP"), approved by shareholders at its annual general meeting held on 18 March 2020.

 

The Company has been notified of the following transactions in the Company's Ordinary Shares of 1p each undertaken by directors / persons discharging managerial responsibility ("PDMRs") on 25 January 2022 in accordance with the rules of the 2020 LTIP.

 

Name

Status

Number of Ordinary Shares under LTIP Award

Option Price

                    

Frederic Vecchioli

Chief Executive Officer

71,645

 

 

£Nil

Andy Jones

Chief Financial Officer

51,047

£Nil

 

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 1232 pence per share, being the closing share price on the dealing day immediately before the date of grant.

 

The normal vesting date of the LTIP Awards will be 25 January 2025, being the third anniversary of the award date. Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date.  The LTIP Awards are subject to a two-year holding period commencing on vesting.

 

The LTIP Awards will normally vest after 3 years based on the satisfaction of the following performance conditions which are each measured over a 3 year period:

 

i.    Two-thirds based on adjusted diluted EPRA EPS growth: 5% p.a. growth (threshold); 8% p.a. growth (maximum).

ii.    One-sixth based on relative TSR against the constituents of the FTSE 250 excluding Investment Trusts index: Median performance (threshold); Upper quartile performance (maximum); and

iii.   One-sixth based on relative TSR against the constituents of the FTSE 350 Supersector Real Estate index: Median performance (threshold); Upper quartile performance (maximum).

 

25% of the relevant element of the LTIP Award will vest for threshold performance, with straight line vesting in between to full vesting for the achievement of maximum performance.

 

In addition, no award will vest unless a minimum level of Cash on Cash Return ("CoCR") of 8% p.a. has been met.

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK version of the EU Market Abuse Regulation which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons close associated with them.

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Frederic Vecchioli

2

 

Reason for the notification

a)

Position/status

PDMR, 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

Safestore Holdings plc

b)

LEI

213800WGA3YSJC1YOH73

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 1p each



Identification code

GB00B1N7Z094



b)

 

Nature of the transaction

Grant of nil cost option under the Safestore 2020 Long Term Incentive Plan

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

71,645







d)

 

Aggregated information




- Aggregated volume

71,645



- Price

Nil



e)

Date of the transaction

25 January 2022

f)

Place of the transaction

Outside a trading venue

 



 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andy Jones

2

 

Reason for the notification

a)

Position/status

PDMR, 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

Safestore Holdings plc

b)

LEI

213800WGA3YSJC1YOH73

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 1p each



Identification code

GB00B1N7Z094



b)

 

Nature of the transaction

Grant of nil cost option under the Safestore 2020 Long Term Incentive Plan

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




Nil

51,047







d)

 

Aggregated information




- Aggregated volume

51,047



- Price

Nil



e)

Date of the transaction

25 January 2022

f)

Place of the transaction

Outside a trading venue

 

 

Enquiries:

 

Instinctif Partners

Guy Scarborough - 020 7457 2020

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHQELFLLFLEBBB
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.