Source - LSE Regulatory
RNS Number : 6919O
Industrials REIT Limited
13 June 2022
 

 

INDUSTRIALS REIT LIMITED

(formerly Stenprop Limited)

(Registered in Guernsey)

(Registration number 64865)

LSE share code: MLI   JSE share code: MLI

ISIN:  GG00BFWMR296

("Industrials REIT" or the "Company")

13 June 2022

 

Notification and public disclosure of transactions by Directors, in accordance with the Market Abuse Regulations.

 

Shareholders are advised of the following information relating to the acceptance of nil cost options awarded on 10 June 2022 under the Industrials REIT Limited Long-Term Incentive Plan (the "LTIP"). The nil cost options awarded under the LTIP will vest on 10 June 2025 subject to certain vesting conditions having been met, including performance targets set by the Remuneration Committee prior to the awards being made. Assuming that the performance targets are met in full at the end of the performance period, the nil cost options will result in the issue of 820,971 shares.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Paul Arenson

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer of Industrials REIT Limited

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Industrials REIT Limited

b)

 

LEI

 

 

5493004JYL71EMLTB211

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 with a nominal value of €0.000001258



Identification code

GG00BFWMR296



b)

 

Nature of the transaction

 

 

Off-market acceptance of nil cost options in terms of the LTIP

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£1.8029

364,601







d)

 

Aggregated information




- Aggregated volume

364,601



- Price

£657,339.14



e)

 

Date of the transaction

 

 

2022-06-10

f)

 

Place of the transaction

 

 

off-market transaction

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Julian Carey

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Managing Director of Industrials REIT Limited

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Industrials REIT Limited

b)

 

LEI

 

 

5493004JYL71EMLTB211

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 with a nominal value of €0.000001258



Identification code

GG00BFWMR296



b)

 

Nature of the transaction

 

 

Off-market acceptance of nil cost options in terms of the LTIP

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£1.8029

350,313







d)

 

Aggregated information




- Aggregated volume

350,313



- Price

£631,579.31



e)

 

Date of the transaction

 

 

2022-06-10

f)

 

Place of the transaction

 

 

off-market transaction

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

James Beaumont

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Financial Officer of Industrials REIT Limited

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Industrials REIT Limited

b)

 

LEI

 

 

5493004JYL71EMLTB211

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 with a nominal value of €0.000001258



Identification code

GG00BFWMR296



b)

 

Nature of the transaction

 

 

Off-market acceptance of nil cost options in terms of the LTIP

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£1.8029

106,057







d)

 

Aggregated information




- Aggregated volume

106,057



- Price

£191,210.17



e)

 

Date of the transaction

 

 

2022-06-10

f)

 

Place of the transaction

 

 

off-market transaction

 

Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 10 June 2022 under the Industrials REIT Limited Deferred Share Bonus Plan (the "DSBP"). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2023 and the last third vesting on 31 March 2024. Once fully vested, they will result in the issue of 185,897 shares.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Paul Arenson

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer of Industrials REIT Limited

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Industrials REIT Limited

b)

 

LEI

 

 

5493004JYL71EMLTB211

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 with a nominal value of €0.000001258



Identification code

GG00BFWMR296



b)

 

Nature of the transaction

 

 

Off-market acceptance of nil cost options in terms of the DSBP

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£1.8029

82,583







d)

 

Aggregated information




- Aggregated volume

82,583



- Price

£148,888.89



e)

 

Date of the transaction

 

 

2022-06-10

f)

 

Place of the transaction

 

 

off-market transaction

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Julian Carey

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Managing Director of Industrials REIT Limited

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Industrials REIT Limited

b)

 

LEI

 

 

5493004JYL71EMLTB211

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 with a nominal value of €0.000001258



Identification code

GG00BFWMR296



b)

 

Nature of the transaction

 

 

Off-market acceptance of nil cost options in terms of the DSBP

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£1.8029

79,346







d)

 

Aggregated information




- Aggregated volume

79,346



- Price

£143,052.90



e)

 

Date of the transaction

 

 

2022-06-10

f)

 

Place of the transaction

 

 

off-market transaction

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

James Beaumont

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Financial Officer of Industrials REIT Limited

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Industrials REIT Limited

b)

 

LEI

 

 

5493004JYL71EMLTB211

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 with a nominal value of €0.000001258



Identification code

GG00BFWMR296



b)

 

Nature of the transaction

 

 

Off-market acceptance of nil cost options in terms of the DSBP

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




£1.8029

23,968







d)

 

Aggregated information




- Aggregated volume

23,968



- Price

£43,211.91



e)

 

Date of the transaction

 

 

2022-06-10

f)

 

Place of the transaction

 

 

off-market transaction

 

This announcement is made in accordance with Article 19 of the UK Market Abuse Regulation.

 

 

For further information:

Industrials REIT Limited  

Paul Arenson (paul.arenson@industrials.co.uk)

Julian Carey (julian.carey@industrials.co.uk)

James Beaumont (james.beaumont@industrials.co.uk)

 

+44(0)20 3918 6600 

 

Numis Securities Limited (Financial Adviser)

Hugh Jonathan

Vicki Paine

+44(0)20 7260 1000 

 

FTI Consulting (PR Adviser)

Richard Sunderland

Richard Gotla

Neel Bose

industrialsreit@fticonsulting.com

+44(0)20 3727 1000 

 

Java Capital

(JSE Sponsor)

+27 (0)11 722 3050 

 

About Industrials REIT:

Industrials REIT is a UK REIT with a primary listing on the London Stock Exchange and a secondary listing on the JSE. The objective of the Company is to deliver a combination of sustainable growing income and growth in value to its investors. Industrials REIT focuses on owning and operating a diversified portfolio of UK purpose built multi-let industrial (MLI) estates across the UK. The Company aspires to be the leading MLI business in the UK. For further information, go to www.industrialsreit.com.

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END
 
 
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