12th Jun 2019 11:00
LEI: 213800JSNTERD5CJZO95
intu properties plc ("intu" or "the Company")
Director/PDMR Awards under the Performance Share Plan ("PSP")
Following the appointment of Robert Allen as Chief Financial Officer of intu with effect from Monday 10 June 2019, an award of 908,781 ordinary shares under the PSP (equivalent to 200% of salary) was made to him on 10 June 2019. The award is based on a market value of 88.03 pence per share.
The award comprises restricted shares which will vest, subject to the satisfaction of performance conditions, in three equal tranches over three, four and five years. The performance periods for the awards stretch from 1 January 2019 to 31 December 2021, 31 December 2022 and 31 December 2023 respectively. Holding periods will apply to this award of two years for the portion of the award vesting after three years and one year for the portion vesting after four years.
The performance conditions are as follows:
· 50% of the PSP award will vest subject to the satisfaction of an absolute Share Return measure;
· The remaining 50% of the award will vest subject to the satisfaction of a Relative Total Shareholder Return performance measure.
Further information regarding the details of the PSP performance conditions can be found in the announcement made on 9 April 2019 (RNS Number 6585V).
Susan Marsden
Company Secretary
12 June 2019The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014 and provides further detail.
1. | Details of PDMR/person closely associated with them ('PCA') | |||||||||
a) | Name | Robert Allen | ||||||||
b) | Position/status | CFO | ||||||||
c) | Initial notification/ amendment | Initial Notification | ||||||||
2. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | intu properties plc | ||||||||
b) | LEI | 213800JSNTERD5CJZO95 | ||||||||
3. | 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 transaction(s) has been conducted | |||||||||
a) | Description of the financial instrument | ORDINARY SHARES OF 50P ISIN: GB0006834344 | ||||||||
b) | Nature of the transaction | Shares awarded for no consideration under the intu properties plc performance share plan. | ||||||||
c) | Price(s) and volume(s) |
| ||||||||
d) | Aggregated information
Aggregated volume Price |
Not applicable | ||||||||
e) | Date of the transaction | 10 June 2019 | ||||||||
f) | Place of the transaction | London Stock Exchange Main Market (XLON) | ||||||||
Related Shares:
INTU.L