Share Awards and Director/PDMR Interests
20 June 2014
LONDONMETRIC PROPERTY PLC
GRANT OF SHARE INCENTIVE AWARDS AND DIRECTOR/PDMR INTERESTS
LondonMetric Property Plc (LSE: LMP), today announces that it has granted options over a total of 1,803,962 ordinary shares under the Company's Long Term Incentive Plan ("LTIP"). The Company also announces that a total of 671,966 ordinary shares have been granted to satisfy bonuses which are awarded by way of deferred shares.
The grants have been made to various employees including the following notifiable interests;
Andrew Jones (Chief Executive) received a nil-cost option award over 575,102 ordinary shares under the terms of the LTIP and 263,004 ordinary shares as part of the annual deferred share bonus.
Martin McGann (Finance Director) received a nil-cost option award over 294,852 ordinary shares under the terms of the LTIP and 121,302 ordinary shares as part of the annual deferred share bonus.
Valentine Beresford (Investment Director) received a nil-cost option award over 310,491 ordinary shares under the terms of the LTIP and 143,830 ordinary shares as part of the annual deferred share bonus.
Mark Stirling (Asset Management Director) received a nil-cost option award over 310,491 ordinary shares under the terms of the LTIP and 143,830 ordinary shares as part of the annual deferred share bonus.
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 2015. Further details of the LTIP and the deferred share bonuses can be found in the 2014 Annual Report and Accounts on page 81.
In order to satisfy these share awards the Company has been informed that Appleby Trust (Jersey) Limited as Trustee of the LondonMetric Property Plc Employee Benefit Trust (the 'Trust') purchased on 20 June 2014, 1,573,947 (one million, five hundred and seventy three thousand and nine hundred and forty seven) ordinary shares of 10 pence each in the Company at an average price of 136.5 pence per share.
The executive directors of the Company, namely Andrew Jones, Martin McGann, Valentine Beresford and Mark Stirling are amongst potential beneficiaries of the Trust.
Following the above transaction, the Trust holds 3,821,313 ordinary shares in the Company representing 0.6% of the Company's issued ordinary shares with voting rights.
-Ends-
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Nina Legge
Tel: +44 (0) 20 3727 1000
Notes to editors:
LondonMetric (ticker: LMP), a UK REIT, aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK primarily in out of town retail and distribution properties. 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.
This information is provided by RNS
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