Director/PDMR Shareholding

RNS Number : 9632B
Stenprop Limited
15 June 2021
 

 

 

 

STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP  JSE share code: STP

ISIN:  GG00BFWMR296

("Stenprop" or the "Company")

 

 

DEALINGS IN SECURITIES BY DIRECTORS , THE COMPANY SECRETARY AND A PERSON DISCHARGING MANAGERIAL RESPONSIBILITY

 

15 June 2021

 

Shareholders are advised of the following information relating to the acceptance of nil cost options and market value options awarded on 11 June 2021 under the Stenprop Limited Long-Term Incentive Plan (the "LTIP"). The nil cost options will vest on 11 June 2024 subject to certain vesting conditions having been met, including performance targets set by the remuneration committee prior to the awards being made. Assuming that the performance targets are met in full at the end of the performance period, the nil cost options will result in the issue of 834,390 shares. The market value options will vest in three tranches on 31 March 2022, 31 March 2023 and 31 March 2024 and once fully vested will result in the issue of 88,313 shares subject to the payment of the exercise price of £1.5615 per share.

 

Name of director:

Paul Arenson

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

366,058

Nature of transaction

Off-market acceptance of nil cost options in terms of the LTIP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name of director:

Julian Carey

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

351,713

Nature of transaction:

Off-market acceptance of nil cost options in terms of the LTIP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name of director:

James Beaumont

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

116,619

Nature of transaction:

Off-market acceptance of nil cost options in terms of the LTIP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name of company secretary:

Sarah Bellilchi

Transaction date:

11 June 2021

Class of securities:

Market value options

Number of securities:

88,313

Total price payable on exercise:

£137,900.75

Nature of transaction:

Off-market acceptance of market value options in terms of the LTIP

Nature and extent of company secretary's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 11 June 2021 under the Stenprop Limited Deferred Bonus Plan (the "DBP"). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2022 and the last third vesting on 31 March 2023. Once fully vested, they will result in the issue of 357,884 shares.

 

 

 

Name of director:

Paul Arenson

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

162,248

Nature of transaction:

Off-market acceptance of nil cost options in terms of the DBP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name of director:

Julian Carey

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

155,908

Nature of transaction:

Off-market acceptance of nil cost options in terms of the DBP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name of director:

James Beaumont

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

25,850

Nature of transaction:

Off-market acceptance of nil cost options in terms of the DBP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name of company secretary:

Sarah Bellilchi

Transaction date:

11 June 2021

Class of securities:

Nil cost options

Number of securities:

13,878

Nature of transaction:

Off-market acceptance of nil cost options in terms of the DBP

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Finally, shareholders are advised of the following information relating to the exercise of vested market value options and the subsequent disposal of ordinary shares of the Company.

 

Name:

Neil Marais

Position:

Director of Stenprop (Swiss) Limited and Stenprop Trafalgar Limited, being subsidiaries of Stenprop

Transaction date:

11 June 2021

Class of securities:

Market value option

Number of securities exercised:

112,743

Price per security

GBP 0.9348

Total value of the transaction:

GBP 105,397.60

Nature of transaction:

Off-market exercise of market value options

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

Name:

Neil Marais

Position:

Director of Stenprop (Swiss) Limited and Stenprop Trafalgar Limited, being subsidiaries of Stenprop

Transaction date:

11 June 2021

Class of securities:

Ordinary shares

Number of securities sold:

112,743

Price per security

GBP 1.595

Total value of the transaction:

GBP 179,825.09

Nature of transaction:

On-market sale

Nature and extent of director's interest:

Direct beneficial

Clearance to deal received:

Yes

 

The Company utilised treasury shares to settle the exercise of the market value options to the above participant. Following this transaction, the total number of treasury shares held by the Company is 12,745,207 and the total number of shares in issue less shares held in treasury is 286,020,968.

 

 

For further information:

 

Stenprop Limited                                                                                   +44(0)20 3918 6600

Paul Arenson                                                                                           (paul.arenson@stenprop.com)

Julian Carey                                                                                             (julian.carey@stenprop.com)  

James Beaumont                                                                                    (james.beaumont@stenprop.com)

 

Numis Securities Limited (Financial Adviser)    +44(0)20 7260 1000

Hugh Jonathan

Vicki Paine

Justin Bell 

 

FTI Consulting                                                                                 +44(0)20 3727 1000

Richard Sunderland                                                                                 stenprop@fticonsulting.com

Richard Gotla

Indraneel Bose

 

Java Capital Trustees and Sponsors Proprietary Limited                +27 (0)11 722 3050

(JSE Sponsor)

 

About Stenprop:

 

Stenprop is a UK REIT listed on the LSE and the JSE. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to stenprop.com.

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