23 June 2021
PICTON PROPERTY
INCOME LIMITED
(“Picton”, the “Company” or the “Group”)
LEI:
213800RYE59K9CKR4497
GRANT OF SHARE
AWARDS
Picton announces that the following awards have been granted to
Persons Discharging Managerial Responsibility (“PDMRs”).
Each of the following PDMRs have, on 22
June 2021, been granted awards over ordinary shares in
Picton Property Income Limited, being contingent share awards in
the form of nil-cost options under the terms of the Picton Property
Income Limited 2016 Long Term Incentive Plan (“LTIP”) and deferred
awards under the terms of the Picton Property Income Limited 2018
Deferred Bonus Plan (“DBP”), as set out below:
PDMR |
LTIP
share award |
DBP
share award |
DBP
notional share award |
Michael Morris |
403,339 |
186,666 |
- |
Andrew Dewhirst |
241,358 |
126,933 |
- |
Jay Cable |
190,797 |
- |
95,960 |
The nil-cost options awarded under the LTIP will vest, subject
to continued employment and the satisfaction of performance
conditions, following completion of the performance period which
ends on 31 March 2024. The actual
number of shares that will vest will depend on the extent to which
the performance conditions are satisfied over the performance
period, which runs from 1 April 2021
to 31 March 2024. No consideration
was paid for any of the awards and no consideration is due on
vesting.
The deferred awards under the DBP will vest, subject to
continued employment, on 22 June
2023. No consideration was paid for the awards and no
consideration is due on vesting.
This notification is made in accordance with the Market Abuse
Regulation.
For further information:
Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited,
1481 745001,
team_picton@ntrs.com
Note to Editors
Picton, established in 2005, is a UK REIT. It owns and actively
manages a £682 million diversified UK commercial property
portfolio, invested across 46 assets and with around 350 occupiers
(as at 31 March 2021). Through an
occupier focused, opportunity led approach to asset management,
Picton aims to be one of the consistently best performing
diversified UK focused property companies listed on the main market
of the London Stock Exchange.
For more information please visit: www.picton.co.uk.
ENDS