Yew Grove REIT PLC LTIP Option Awards / PDMR Notification (1040T)
23 Marzo 2021 - 1:00AM
UK Regulatory
TIDMYEW
RNS Number : 1040T
Yew Grove REIT PLC
23 March 2021
23 March 2021
Yew Grove REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
LTIP Option Awards / PDMR Notification
The Board of Yew Grove REIT plc (LSE: YEW, Euronext: YEW) (the
"Board") announces that on 23 March 2021, the Company granted
Jonathan Laredo, the Company's Chief Executive Officer, Charles
Peach, the Company's Chief Financial Officer, and Michael Gibbons,
the Company's Chief Investment Officer, (together the "Executive
Directors") options at 1 cent per share over a total of 271,739
ordinary shares of EUR0.01 each in the Company ("Ordinary Shares")
pursuant to the Company Long Term Incentive Plan (the "LTIP") for
the 2021 financial year.
This is the third grant under the Company LTIP scheme since its
Admission to trading on the London and Irish Stock Exchanges. The
grant is equally divided between each of the Executive Directors so
that each one of the Executive Directors is entitled to 271,739
Ordinary Shares subject to the satisfaction of the performance
conditions described below.
The LTIP is subject to two performance conditions. Half of the
grant relates to Yew Grove's total return (defined as the
annualised share price assuming the reinvestment of dividends)
measured against a comparator group of 12 other REITs. 30% of the
award vests on that half of the grant if Yew Grove's total return
is at the median of the comparator group and 100% of the award
vests if Yew Grove's total return is at or above the upper quartile
of the comparator group. The remaining half of the grant is
measured by reference to the Company's total property return over
the performance period. At 6% per annum total property return 30%
of awards vest on the remaining half of the grant, at 10.5% total
property return per annum 100% of awards vest. In each case the
vesting amount increases on a straight line basis between 30% and
100%. The performance period for both performance conditions is the
three years to 31 December 2023.
The total number of Ordinary Shares over which options were
granted on 23 March 2021 represents approximately 0.73 per cent. of
the Company's issued share capital.
For further information contact:
Yew Grove REIT plc +353 1 485 3950
Jonathan Laredo, Chief Executive Officer
----------------------------------
Charles Peach, Chief Financial Officer
----------------------------------
Michael Gibbons, Chief Investment Officer
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Goodbody Stockbrokers UC +353 1 667 0400
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Joint Broker & Euronext Growth Advisor
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David Kearney, John Flynn, Edel O'Reilly
----------------------------------
Liberum Capital Limited
----------------------------------
Joint Broker & Nomad +44 20 3100 2000
----------------------------------
Richard Crawley, Jamie Richards,
----------------------------------
IFC Advisory +44 203 934 6630
----------------------------------
Financial PR yewgrovereit@investor-focus.co.uk
----------------------------------
Tim Metcalfe, Graham Herring
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MAR information
This announcement is released by Yew Grove REIT plc and contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and
is disclosed in accordance with the company's obligations under
Article 17 of MAR.
Forward-looking Statements
Certain information contained in this announcement may
constitute forward looking information. This information relates to
future events or occurrences or the Company's future performance.
All information other than information of historical fact is
forward looking information. The use of any of the words
"anticipate", "plan", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe", "predict" and "potential"
and similar expressions are intended to identify forward looking
information. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. No assurance can be given that this
information will prove to be correct and such forward looking
information included in this announcement should not be relied
upon. Forward-looking information speaks only as of the date of
this announcement. The forward-looking information included in this
announcement is expressly qualified by this cautionary statement
and is made as of the date of this announcement. The Company and
its group does not undertake any obligation to publicly update or
revise any forward-looking information except as required by
applicable securities laws.
Notes to editors
Yew Grove REIT plc, quoted on the London Stock Exchange's AIM
market and on the Euronext Growth Market in Dublin, is an Irish
commercial real estate company invested in a diversified portfolio
of Irish commercial property. Yew Grove has a particular focus on
well-tenanted commercial real estate assets comprising of office
and industrial assets outside of Dublin's Central Business
District.
Yew Grove's highly experienced team has a proven track record in
commercial property investment and asset management in Ireland and
internationally and is focused on delivering results. Its
investment approach is strategic, not speculative, principally on
assets that are let, pre-let or to be let after refurbishment.
Shareholders are provided with stable, long-term income from a
diverse portfolio of commercial property comprising well-tenanted
real estate in strategic centres let to Irish government entities
and other state bodies, IDA Ireland supported and other FDI
companies, and larger corporates.
APPIX I
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name 1. Jonathan Laredo
2. Charles Peach
3. Michael Gibbons
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2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
1. Chief Executive Officer
a) Position/status 2. Chief Financial Officer
3. Chief Investment Officer
------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------------
a) Name Yew Grove REIT plc
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b) LEI 6354003383UIBIYIJA86
------------------------------------------------------- -------------------------------------------------------
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 Ordinary Shares of EUR0.01 each
instrument
Identification code
ISIN: IE00BDT5KP12
------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of Share Options made in accordance with the Yew
Grove REIT plc Long Term Incentive
Plan
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c) Price(s) and volume(s) Price(s) Volume(s)
1. EUR0.01 1. 271,739
2. EUR0.01 2. 271,739
3. EUR0.01 3. 271,739
-----------------
------------------------------------------------------- -------------------------------------------------------
d) Aggregated information Price(s) Volume(s)
N/A N/A
----------
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e) Date of the transaction 23 March 2021
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f) Place of the transaction Outside a trading venue
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END
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March 23, 2021 03:00 ET (07:00 GMT)
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