18th Jan 2018 12:45
RDI REIT P.L.C.
("RDI" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
LEI: 2138006NHZUMMRYQ1745
GRANT OF CONTINGENT AWARDS UNDER LONG TERM PERFORMANCE SHARE PLAN
AND PDMR SHAREDEALING
RDI, the FTSE 250 income focused UK Real Estate Investment Trust ("UK-REIT"), announces that contingent share awards have been granted to certain executive directors under the RDI Long Term Performance Share Plan ("PSP"), which was approved by shareholders in November 2013, and forms part of the Company's New Remuneration Policy, which was approved by shareholders at the Annual General Meeting held on 23 January 2017.
Each of the following executive directors and persons discharging managerial responsibility ("PDMR") have, on 18 January 2018, been granted contingent share awards over the number of ordinary shares in RDI under the terms of the PSP, as set out below:
Director/PDMR | Number of PSP shares awarded on 18 January 2018 | Total number of shares held as awards under the PSP following grant |
Mike Watters | 1,954,023 | 5,350,978 |
Stephen Oakenfull | 1,389,805 | 3,588,989 |
Adrian Horsburgh | 1,264,868 | 3,464,052 |
Donald Grant | 1,175,412 | 3,269,874 |
The awards will vest three years from date of grant, subject to continued employment and the satisfaction of performance targets. The figures above reflect the maximum number of shares that could vest. The actual number that will vest will depend on the extent to which the performance targets are satisfied over the performance period. No consideration was paid for any of the awards and no consideration is due on vesting. This notification is made in accordance with DTR 3.1.4R (1)(a).
In addition to the above contingent awards, the following executive directors have acquired additional shares in the Company, the details of which are shown below: -
Mike Watters | Donald Grant | |
Position | Chief Executive Officer | Chief Financial Officer |
Shares Acquired | 67,000 | 25,000 |
Acquisition Price | £0.3594 | £0.3595 |
Aggregate Price | £24,079.80 | £8,987.50 |
Place | LSE | LSE |
Date | 17/01/2018 | 16/01/2018 |
Total Shareholding in RDI | 6,653,428 | 75,000 |
% of Issued Share Capital | 0.35% | Less than 0.01% |
For further information:
RDI REIT P.L.C. Mike Watters, Stephen Oakenfull |
Tel: +44 (0) 20 7811 0100 |
FTI Consulting UK Public Relations Adviser Dido Laurimore, Claire Turvey, Ellie Sweeney |
Tel: +44 (0) 20 3727 1000 |
Instinctif Partners SA Public Relations Adviser Frederic Cornet, Lizelle du Toit |
Tel: +27 (0) 11 447 3030 |
Java Capital JSE Sponsor |
Tel: +27 (0) 11 722 3050 |
Note to editors:
About RDI
RDI is a FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT. The Company's income-led business model and strategic priorities are designed to offer shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings per share of 3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any one sector or tenant, together with an efficient capital structure. The secure and growing income stream is 39% indexed and has a WAULT of 7.4 years to first break (8.5 years to expiry). This is complemented by an average debt maturity of 7.3 years of which over 90% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst maintaining a low cost of debt. All figures as at 31 August 2017.
The Company owns properties independently valued at £1.5bn in the United Kingdom and Germany, Europe's two largest and most transparent property markets. RDI invests in assets with strong property fundamentals spread across UK shopping centres, UK retail parks, UK offices, UK logistics, UK hotels and German retail.
RDI holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name
| Mike Watters | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/C.E.O. | ||||
b)
| Initial notification /Amendment
| Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| RDI REIT P.L.C. | ||||
b)
| LEI
| 2138006NHZUMMRYQ1745 | ||||
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 instrument
Identification code | Shares
2138006NHZUMMRYQ1745 | ||||
b)
| Nature of the transaction
| Acquisition of shares | ||||
c)
| Price(s) and volume(s) |
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
67,000
£24,079.80 | ||||
e)
| Date of the transaction
| 2018-01-17 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name
| Donald Grant | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/Chief Financial Officer | ||||
b)
| Initial notification /Amendment
| Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| RDI REIT P.L.C. | ||||
b)
| LEI
| 2138006NHZUMMRYQ1745 | ||||
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 instrument
Identification code | Shares
2138006NHZUMMRYQ1745
| ||||
b)
| Nature of the transaction
| Acquisition of shares | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
25,000
£8,987.50 | ||||
e)
| Date of the transaction
| 2018-01-16 | ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
Related Shares:
RDI.L