TIDMRLE

RNS Number : 5370P

Real Estate Investors PLC

20 June 2022

Real Estate Investors Plc

("REI" or the "Company")

Q1 2022 Dividend Declaration / Grant and Vesting of LTIP Awards

Real Estate Investors Plc (AIM:RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.5 million sq ft of commercial property across all sectors, is pleased to announce that in accordance with its progressive dividend policy, REI will pay a fully covered Q1 2022 dividend of 0.8125 pence per share for the period 1 April 2022 to 30 June 2022 (Q1 2021: 0.75 pence per share). The payment will be made on 22 July 2022 to all shareholders on the register as at 1 July 2022. The ex-dividend date will be 30 June 2022. This dividend will be a Property Income Distribution (PID).

The Company also announces that on 20 June 2022 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2021. The awards under the Plan give rights to certain Directors to acquire a total of 1,810,127 ordinary shares of 10p each in the Company ("Ordinary Shares") as detailed below at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return, with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 12% levels of annual return/growth are achieved.

 
Award Holder  Number of Ordinary   Expected Vesting Date 
               Shares under Award 
Paul Bassi    1,113,924            April 2025 
Marcus Daly   696,203              April 2025 
 

In addition, share awards made on 25 March 2019 to directors of the Company vested yesterday at 25.9% (based on performance conditions) in the following amounts: Paul Bassi (Chief Executive) 219,492 ordinary shares; and Marcus Daly (Finance Director) 137,183 ordinary shares. The directors now have the right to be issued with the shares awarded (for nil or nominal consideration) although such issues have not yet occurred and remain subject to the exercise by the directors of their right.

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.

Enquiries:

 
Real Estate Investors Plc 
 Paul Bassi/Marcus Daly                     +44 (0)121 212 3446 
 
  Cenkos Securities (Nominated Adviser) 
  Katy Birkin/Ben Jeynes                    +44 (0)20 7397 8900 
 
  Liberum (Broker) 
  Jamie Richards/William King               +44 (0)20 3100 2000 
 
  Novella Communications 
  Tim Robertson/Safia Colebrook             +44 (0)20 3151 7008 
 

About Real Estate Investors Plc

Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors. The Company's strategy is to invest in well located, real estate assets in the established and proven markets across the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier. On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities. The Company aims to deliver capital growth and income enhancement from its assets, supporting its progressive dividend policy. Further information on the Company can be found at www.reiplc.com .

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                        Paul Bassi 
      ------------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      -------------------------------------------------------------------------------------- 
 a)    Position/status                             PDMR (Director) 
      ------------------------------------------  ------------------------------------------ 
 b)    Initial notification/Amendment              Initial notification 
      ------------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------------- 
 a)    Name                                        Real Estate Investors Plc 
      ------------------------------------------  ------------------------------------------ 
 b)    LEI                                         21380015X5JMEGUHPD83 
      ------------------------------------------  ------------------------------------------ 
 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                Share award, constituting a 
        instrument, type of instrument              right to acquire ordinary shares 
                                                    of 10p each 
      ------------------------------------------  ------------------------------------------ 
       Identification code                         GB00B45XLP34 
      ------------------------------------------  ------------------------------------------ 
 b)    Nature of the transaction                   Grant of annual award under 
                                                    the Real Estate Investors Plc 
                                                    Senior Executives Long Term 
                                                    Incentive Plan. The award gives 
                                                    rights to acquire ordinary 
                                                    shares in the Company ("Ordinary 
                                                    Shares") at a price of 1p per 
                                                    share (in the case of an issue 
                                                    of new Ordinary Shares) or 
                                                    nil (in the case of a transfer 
                                                    of existing Ordinary Shares). 
                                                    The vesting of 50% of the award 
                                                    is subject to a performance 
                                                    condition based on total shareholder 
                                                    return with 50% subject to 
                                                    a performance condition based 
                                                    on net asset value per share 
                                                    growth including dividends 
                                                    paid. The performance conditions 
                                                    will be measured over the three 
                                                    years up to the vesting date 
                                                    (April 2025) with full vesting 
                                                    if 12% levels of annual return/growth 
                                                    are achieved 
      ------------------------------------------  ------------------------------------------ 
 c)    Price(s) and volumes(s)                     Price(s)               Volume(s) 
      ------------------------------------------  ---------------------  ------------------- 
   nil                                                                    1,113,924 
  ---------------------------------------------------------------------  ------------------- 
 d)    Aggregated information 
      -------------------------------------------------------------------------------------- 
  Aggregated volume                           N/A - single transaction 
 ------------------------------------------  ----------------------------------------------- 
  Price                                       N/A - single transaction 
 ------------------------------------------  ----------------------------------------------- 
 e)    Date of the transaction                     20 June 2022 
      ------------------------------------------  ------------------------------------------ 
 f)    Place of the transaction                    Outside of a trading venue 
      ------------------------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                        Marcus Daly 
      ------------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      -------------------------------------------------------------------------------------- 
 a)    Position/status                             PDMR (Director) 
      ------------------------------------------  ------------------------------------------ 
 b)    Initial notification/Amendment              Initial notification 
      ------------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------------- 
 a)    Name                                        Real Estate Investors Plc 
      ------------------------------------------  ------------------------------------------ 
 b)    LEI                                         21380015X5JMEGUHPD83 
      ------------------------------------------  ------------------------------------------ 
 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                Share award, constituting a 
        instrument, type of instrument              right to acquire ordinary shares 
                                                    of 10p each 
      ------------------------------------------  ------------------------------------------ 
       Identification code                         GB00B45XLP34 
      ------------------------------------------  ------------------------------------------ 
 b)    Nature of the transaction                   Grant of annual award under 
                                                    the Real Estate Investors Plc 
                                                    Senior Executives Long Term 
                                                    Incentive Plan. The award gives 
                                                    rights to acquire ordinary 
                                                    shares in the Company ("Ordinary 
                                                    Shares") at a price of 1p per 
                                                    share (in the case of an issue 
                                                    of new Ordinary Shares) or 
                                                    nil (in the case of a transfer 
                                                    of existing Ordinary Shares). 
                                                    The vesting of 50% of the award 
                                                    is subject to a performance 
                                                    condition based on total shareholder 
                                                    return with 50% subject to 
                                                    a performance condition based 
                                                    on net asset value per share 
                                                    growth including dividends 
                                                    paid. The performance conditions 
                                                    will be measured over the three 
                                                    years up to the vesting date 
                                                    (April 2025) with full vesting 
                                                    if 12% levels of annual return/growth 
                                                    are achieved 
      ------------------------------------------  ------------------------------------------ 
 c)    Price(s) and volumes(s)                     Price(s)               Volume(s) 
      ------------------------------------------  ---------------------  ------------------- 
   nil                                                                    696,203 
  ---------------------------------------------------------------------  ------------------- 
 d)    Aggregated information 
      -------------------------------------------------------------------------------------- 
  Aggregated volume                           N/A - single transaction 
 ------------------------------------------  ----------------------------------------------- 
  Price                                       N/A - single transaction 
 ------------------------------------------  ----------------------------------------------- 
 e)    Date of the transaction                     20 June 2022 
      ------------------------------------------  ------------------------------------------ 
 f)    Place of the transaction                    Outside of a trading venue 
      ------------------------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                        Paul Bassi 
      ------------------------------------------  ------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status                             PDMR (Director) 
      ------------------------------------------  ------------------------------------- 
 b)    Initial notification/Amendment              Initial notification 
      ------------------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name                                        Real Estate Investors Plc 
      ------------------------------------------  ------------------------------------- 
 b)    LEI                                         21380015X5JMEGUHPD83 
      ------------------------------------------  ------------------------------------- 
 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                Share award, constituting a 
        instrument, type of instrument              right to acquire ordinary shares 
                                                    of 10p each 
      ------------------------------------------  ------------------------------------- 
       Identification code                         GB00B45XLP34 
      ------------------------------------------  ------------------------------------- 
 b)    Nature of the transaction                   Vesting of share award granted 
                                                    under the Real Estate Investors 
                                                    Plc Senior Executives Long 
                                                    Term Incentive Plan 
      ------------------------------------------  ------------------------------------- 
 c)    Price(s) and volumes(s)                     Price(s)            Volume(s) 
      ------------------------------------------  ------------------  ----------------- 
   nil                                                                 219,492 
  ------------------------------------------------------------------  ----------------- 
 d)    Aggregated information 
      --------------------------------------------------------------------------------- 
  Aggregated volume                           N/A - single transaction 
 ------------------------------------------  ------------------------------------------ 
  Price                                       N/A - single transaction 
 ------------------------------------------  ------------------------------------------ 
 e)    Date of the transaction                     19 June 2022 
      ------------------------------------------  ------------------------------------- 
 f)    Place of the transaction                    Outside of a trading venue 
      ------------------------------------------  ------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                        Marcus Daly 
      ------------------------------------------  ------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status                             PDMR (Director) 
      ------------------------------------------  ------------------------------------- 
 b)    Initial notification/Amendment              Initial notification 
      ------------------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name                                        Real Estate Investors Plc 
      ------------------------------------------  ------------------------------------- 
 b)    LEI                                         21380015X5JMEGUHPD83 
      ------------------------------------------  ------------------------------------- 
 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                Share award, constituting a 
        instrument, type of instrument              right to acquire ordinary shares 
                                                    of 10p each 
      ------------------------------------------  ------------------------------------- 
       Identification code                         GB00B45XLP34 
      ------------------------------------------  ------------------------------------- 
 b)    Nature of the transaction                   Vesting of share award granted 
                                                    under the Real Estate Investors 
                                                    Plc Senior Executives Long 
                                                    Term Incentive Plan 
      ------------------------------------------  ------------------------------------- 
 c)    Price(s) and volumes(s)                     Price(s)            Volume(s) 
      ------------------------------------------  ------------------  ----------------- 
   nil                                                                 137,183 
  ------------------------------------------------------------------  ----------------- 
 d)    Aggregated information 
      --------------------------------------------------------------------------------- 
  Aggregated volume                           N/A - single transaction 
 ------------------------------------------  ------------------------------------------ 
  Price                                       N/A - single transaction 
 ------------------------------------------  ------------------------------------------ 
 e)    Date of the transaction                     19 June 2022 
      ------------------------------------------  ------------------------------------- 
 f)    Place of the transaction                    Outside of a trading venue 
      ------------------------------------------  ------------------------------------- 
 

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