Share Incentive Awards & Director/PDMR interests

RNS Number : 4050N

LondonMetric Property PLC

06 September 2013

 



6 September 2013

LONDONMETRIC PROPERTY PLC

("LondonMetric" or the "Group" or the "Company")

GRANT OF SHARE INCENTIVE AWARDS AND DIRECTOR/PDMR INTERESTS

LondonMetric Property Plc (LSE: LMP), today announces that following shareholder approval it has granted options over a total of 2,029,344 ordinary shares under the Company's  Long Term Incentive Plan ("LTIP").

The grants have been made to various employees including the following notifiable interests;

Andrew Jones (Chief Executive) received a nil-cost option award over 839,895 ordinary shares under the terms of the LTIP.

Valentine Beresford (Head of Investment) received a nil-cost option award over 454,724 ordinary shares under the terms of the LTIP.

Mark Stirling (Head of Asset Management) received a nil-cost option award over 454,724 ordinary shares under the terms of the LTIP.

The vesting of the LTIP Awards is subject to total shareholder return and earnings per share performance conditions measured over a performance period of three financial years, commencing with the current financial year ending 31 March 2014.

Further details of the LTIP can be found in the Appendix of the 2013 Annual Report and Accounts on page 88.

-Ends-

For further information, please contact:

LondonMetric Property Plc

Martin McGann

Tel: [phone]

FTI Consulting

Stephanie Highett / Dido Laurimore / Nina Legge

Tel: [phone]          

Notes to editors:

LondonMetric (ticker: LMP) is a UK REIT admitted on the Official List and to trading on the Main Market of the London Stock Exchange on 28 January 2013 as a result of the merger between London & Stamford Property Plc (LSP) and Metric Property Investments plc (METP).

LondonMetric aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in Retail and Distribution properties as well as Greater London real estate opportunities. It employs an occupier-led approach to property investments through opportunistic acquisitions, joint ventures, active asset management and short cycle developments. The asset focus is on properties with enduring occupier appeal providing opportunities to improve both rental values and the security and longevity of income; and limited risk redevelopments with the aim of enhancing shareholder returns.

Further information on LondonMetric is available at www.londonmetric.com.

Forward looking statements: This announcement may contain certain forward-looking statements with respect to Metric's expectations and plans, strategy, management objectives, future developments and performance, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Certain statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Any forward-looking statements made by or on behalf of LondonMetric speak only as of the date they are made. LondonMetric does not undertake to update forward-looking statements to reflect any changes in LondonMetric's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. Nothing in this announcement should be construed as a profit forecast. Past share price performance cannot be relied on as a guide to future performance.

 

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