Director/PDMR Shareholding

Picton Property Income Limited

12 August 2026

 

12 August 2026

PICTON PROPERTY INCOME LIMITED
('Picton' or the 'Company')

PDMR/DIRECTOR DEALINGS AND GRANTING OF SHARE AWARDS

Picton announces the vesting of awards previously granted to Persons Discharging Managerial Responsibility ('PDMRs') under the Picton Property Income Limited 2016 Long-term Incentive Plan ('LTIP') and under the Picton Property Income Limited 2018 Deferred Bonus Plan ('DBP'), and the granting of new awards to PDMRs.

In respect of the LTIP and DBP awards granted on the following dates, the following awards vested and were exercised on 7 August 2026 over the number of ordinary shares as set out below:

PDMR	Plan	Grant date	Number of shares vested	Vesting shares disposed to satisfy tax and other(1) liabilities	Increase in holding	Beneficial holdings as at 12 August 2026
Michael Morris	LTIP	14 June 2023	200,576	94,462	106,114	1,612,615
Michael Morris	DBP	26 June 2024	241,129	113,559	127,570
Saira Johnston	DBP	6 June 2024	355,713	167,523	188,190	223,624

(1)  These shares were sold to fund the tax liabilities and/or national insurance contributions arising on vesting of Executive Director share awards. The sale price for the shares sold was 72.7 pence per share.

Each of the following PDMRs have, on 6 August 2026, been granted new awards over ordinary shares in Picton, being contingent share awards in the form of nil-cost options under the terms of the LTIP and deferred awards under the terms of the DBP, as set out below:

PDMR	2026 LTIP share award	2026 DBP share award
Michael Morris	815,808	416,244
Saira Johnston	514,815	262,790

The nil-cost options awarded under the 2026 LTIP will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2029. The actual number of shares that will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 April 2026 to 31 March 2029. No consideration was paid for any of the awards and no consideration is due on vesting.

The deferred awards under the 2026 DBP will vest, subject to continued employment, on 6 August 2028. No consideration was paid for the awards and no consideration is due on vesting.

Further information on the impact of the proposed acquisition by LondonMetric Property plc and Schroder Real Estate Investment Trust Limited of the entire issued and to be issued ordinary share capital of Picton ('Acquisition') on the outstanding nil-cost options awarded under the LTIP and the deferred awards under the DBP is contained in the scheme document in connection with the Acquisition, which was sent to Picton shareholders and persons with information rights on 10 August 2026.

This notification is made in accordance with the Market Abuse Regulation.

For further information:
Picton

Kathy Thompson, Company Secretary

020 7011 9988, [e-mail]  

For more information please visit: www.picton.co.uk  

LEI: 213800RYE59K9CKR4497

 

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