Last checked at 19 Apr 2017 16:00
19 April 2017
Capital & Regional plc ("the Company)
Issue of LTIP awards
Capital & Regional plc announces that Zedra Trust Company (Guernsey) Limited, the trustee of the Capital & Regional plc Employee Ownership Trust 2002 (the "Trustee") has today granted the following share awards of ordinary shares of £0.01 per share under The Capital & Regional plc 2008 Long Term Incentive Plan (the "Plan") to the following Directors/Persons Discharging Managerial Responsibility of the Company:
Ken Ford 660,905
Charles Staveley 627,300
The exercise price for the awards granted is a maximum of £0.01 per share. Performance conditions measured over a three year period will determine the extent to which the awards will vest. Further detail on the performance conditions is provided on page 60 of the Company's Annual Report and Accounts for the year ended 30 December 2016. A holding period applies such that, in normal circumstances, awards must be held for two years following the end of the performance period. Malus and clawback provisions apply. Awards were also made to approximately 50 members of staff.
An award of 1,260,504 ordinary shares will also be made to Lawrence Hutchings as soon as practicable upon him joining the Company as Chief Executive on 13 June 2017.
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For further information:
Capital & Regional: | Tel: 020 7932 8000 |
Hugh Scott-Barrett, Chief Executive |
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Charles Staveley, Group Finance Director |
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