Last checked at 11 Nov 2020 14:58
11 November 2020
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries, the "Group")
Chief Executive Officer LTIP Option Award for FY 2020 / PDMR Notification
The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, announces that following his recent appointment, the Company granted Duncan Garrood, Chief Executive Officer, nil-cost options over 400,000 ordinary shares in the Company ("Ordinary Shares") pursuant to the Empiric Long Term Incentive Plan (the "LTIP") for the 2020 financial year.
The LTIP award is subject to performance conditions measured over a three-year period which will be determined and disclosed early in 2021. The award is also subject to an additional holding period of two years before being released and becoming exercisable.
The total number of Ordinary Shares over which nil-cost options were granted on 10 November 2020 represents approximately 0.066 per cent. of the Company's issued share capital.
The LTIP transaction took place in the United Kingdom, with a grant date of 10 November 2020 and the Chief Executive Officer being notified on 10 November 2020.
This notification is made in accordance with Article 19 of the Market Abuse Regulations and further details required under Article 19(6) are set out in Appendix I below.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc | (via Maitland/AMO below) |
Duncan Garrood (Chief Executive Officer) |
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Lynne Fennah (Chief Financial & Operating Officer) |
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Jefferies International Limited | Tel: 020 7029 8000 |
Stuart Klein |
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Tom Yeadon |
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RBC Europe Limited (trading as RBC Capital Markets) | Tel: 020 7653 4000 |
Charlie Foster Marcus Jackson |
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Maitland/AMO (Communications Adviser) | Tel: 07747 113 930 |
James Benjamin | Email: empiric-maitland@maitland.co.uk |
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's website at www.empiric.co.uk.
Notes:
Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation located in high-demand university towns and cities across the UK. Investing in both operating and development assets, Empiric is a fully integrated operational student property business focused on premium studio-led accommodation managed through its Hello Student® operating platform, that is attractive to affluent growing student segments.
The Company is a real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.
APPENDIX I
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name | Duncan Garrood | |||
2
| Reason for the notification
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a)
| Position/status
| Director | |||
b)
| Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name
| Empiric Student Property plc | |||
b)
| LEI
| 213800FPF38IBPRFPU87 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
| Description of the financial instrument, type of instrument | Nil cost options over ordinary shares of 1p each | |||
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Identification code | GB00BLWDVR75 | ||||
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b)
| Nature of the transaction
| Nil cost option award | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| Nil | 400,000 |
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d)
| Aggregated information |
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- Aggregated volume | 400,000 | ||||
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- Price | Nil | ||||
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e)
| Date of the transaction | 10 November2020 | |||
f)
| Place of the transaction | London | |||