TIDMNRR

RNS Number : 9231V

NewRiver REIT PLC

06 December 2023

NewRiver REIT plc

("NewRiver" or the "Company")

Notification of transactions by persons discharging managerial responsibilities.

The Company announces that on 4 December 2023, Allan Lockhart, Chief Executive Officer and Director of the Company, exercised the following nil cost options under the Company's Deferred Bonus Plan:

 
 Number of nil-cost options   Grant date         Vesting date 
 62,194                       29 May 2018        29 May 2020 
                             -----------------  ----------------- 
 66,952                       27 June 2019       27 June 2021 
                             -----------------  ----------------- 
 41,985                       7 September 2021   7 September 2023 
                             -----------------  ----------------- 
 

80,716 Ordinary shares were sold in order to cover the associated tax liability. The exercise of the nil-cost options has been satisfied through the transfer of existing Shares held by the Employee Benefit Trust and, as such, no new Shares have been issued in connection with the option exercise.

Following these transactions, Allan Lockhart has a beneficial interest in 520,856 Ordinary Shares, increased by 90,415 from 430,441 Ordinary Shares prior to these transactions.

Allan also currently has the following outstanding vested and unvested share awards:

 
 Plan    Number of          Grant Date     Vesting date   Number of        Holding period 
          nil-cost awards                                  shares vested    end 
                                                           to date 
 PSP     604,121            21 Aug 2020    21 Aug 2023    302,060          21 Aug 2025 
        -----------------  -------------  -------------  ---------------  --------------- 
 PSP     699,790            7 Sept 2021    7 Sept 2024                     7 Sept 2026 
        -----------------  -------------  -------------  ---------------  --------------- 
 DBS     167,459            6 July 2022    6 July 2024                     - 
        -----------------  -------------  -------------  ---------------  --------------- 
 PSP     599,061            6 July 2022    6 July 2025                     6 July 2027 
        -----------------  -------------  -------------  ---------------  --------------- 
 DBS     171,584            29 June 2023   29 June 2025                    - 
        -----------------  -------------  -------------  ---------------  --------------- 
 PSP     545,361            29 June 2023   29 June 2026                    29 June 2028 
        -----------------  -------------  -------------  ---------------  --------------- 
 

This announcement is made in accordance with the requirements of the EU Market Abuse Regulation. The notification of dealing forms can be found below.

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                          Allan Lockhart 
     ----------------------------  ------------------------------------- 
      Reason for the notification 
  2 
     ------------------------------------------------------------------- 
 a)   Position/status               PDMR - Chief Executive Officer 
     ----------------------------  ------------------------------------- 
 b)   Initial notification          Initial Notification 
       /Amendment 
     ----------------------------  ------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                          NewRiver REIT plc 
     ----------------------------  ------------------------------------- 
 b)   LEI                           2138004GX1VAUMH66L31 
     ----------------------------  ------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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,          Ordinary shares of one penny each 
       type of instrument 
                                      GB00BD7XPJ64 
       Identification code 
     ----------------------------  ------------------------------------- 
 b)   Nature of the transaction     Exercise of 171,131 nil cost share 
                                     options granted under the NewRiver 
                                     REIT plc Deferred Bonus Plan 2016. 
                                     Sale of 80,716 shares to cover the 
                                     associated tax liabilities 
     ----------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)       Volume(s) 
                                       85.90 pence    80,716 
                                                     ---------- 
     ----------------------------  ------------------------------------- 
 d)   Aggregated information 
                                      N/a single transaction 
 
       - Aggregated volume 
       - Price 
     ----------------------------  ------------------------------------- 
 e)   Date of the transaction       4 December 2023 
     ----------------------------  ------------------------------------- 
 f)   Place of the transaction      London Stock Exchange 
     ----------------------------  ------------------------------------- 
 

For further information

 
                                                 +44 (0)20 3328 
     NewRiver REIT plc                            5800 
     Kerin Williams (Company Secretary) 
 

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END

DSHFSSFIMEDSEIE

(END) Dow Jones Newswires

December 06, 2023 10:51 ET (15:51 GMT)

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