16 Apr 2019 16:59
16 April 2019
Hansteen Holdings PLC
("Hansteen" or the "Company")
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated with them
On 15 April 2019, participants in the Hansteen Performance Share Plan 2012 ("PSP"), exercised their PSP nil cost options (i.e. no exercise price is payable when the options are exercised) pursuant to the Rules of the PSP. The options became exercisable between 16 March 2019 and 15 April 2019 and were subject to achievement of the following performance conditions measured over a three year performance period:
· 50% of the award vests by reference to the Company's Total Shareholder Return over the performance period ranking relative to a Comparator Group of Real Estate Investment Trusts approved by the Remuneration Committee; and
· 50% of the award vests by reference to the Company's EPRA Net Asset Value per share growth from investing in the Company over the performance period ranking relative to the same Comparator Group.
No consideration is due on these options upon exercise.
In total the participants, including three PDMRs, being directors of the Company listed below, exercised their options over 1,443,093 shares (the "PSP Awards") which will be satisfied by the transfer of shares from the Hansteen Employee Benefit Trust (the "Trust").
The Trust holds shares for the benefit of the Company's employees, including the executive directors of the Company, and in particular for the satisfying of awards made under the Company's share schemes.
On 15 April 2019 the Trust acquired 529,660 ordinary shares of 10p each in the Company at an average price of 94.4p per share.
After satisfying the PSP Awards the Trust will hold 2,249,757 ordinary shares in the Company representing 0.527% of the Company's current voting rights.
On 15 April 2019 and 16 April 2019 the PDMRS sold all of the PSP Awards to which they were entitled as set out in more detail below.
Name | Director/ PDMR | Number of shares awarded on PSP 4 award 10 April 2014 and exercisable from 10 April 2019 | Number of shares awarded on PSP 5 award 16 March 2015 and exercisable from 16 March 2019 | Number of shares awarded on PSP 6 award 14 April 2016 and exercisable from 14 April 2019 | Number of shares awarded attributable to dividends payable over the period from grant to exercise | Total shares awarded and exercisable including shares attributable to dividends
| Shares sold at an average share price of 94.1826p |
Ian Richard Watson | Director | 63,599 | 123,465 | 131,231 | 73,551 | 391,846 | 391,846 |
Morgan Lewis Jones | Director | 63,599 | 123,465 | 131,231 | 73,551 | 391,846 | 391,846 |
Richard Phillip Lowes | Director | 40,228 | 79,371 | 92,175 | 48,544 | 260,318 | 260,318 |
The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Ian Watson | ||
2 | Reason for the notification | |||
a) | Position/status | Chief Executive Officer - Director | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Hansteen Holdings PLC | ||
b) | LEI | 2138007274QQL9KBWY58 | ||
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 | |||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.10 each in the capital of Hansteen Holdings PLC GB00B0PPFY88 | ||
b) | Nature of transaction | 1 Exercise of options over 391,846 Ordinary Shares pursuant to Hansteen Holdings PLC Performance Share Plan 2012 1. 2 Sale of 391,846 shares. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. nil | 1. 391,846 | |||
2. Ranging from 93.82p to 94.5p | 2. 391,846 | |||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Total |
1 nil | 1 391,846 | 1 nil | ||
2 94.1826p | 2 391,846 | 2 £369,051 | ||
e) | Date of the transaction | 15 April 2019 and 16 April 2019 | ||
f) | Place of the transaction | London Stock Exchange | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||
a) | Name | Morgan Jones | ||
2 | Reason for the notification | |||
a) | Position/status | Chief Executive Officer - Director | ||
b) | Initial notification/Amendment | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Hansteen Holdings PLC | ||
b) | LEI | 2138007274QQL9KBWY58 | ||
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 | |||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.10 each in the capital of Hansteen Holdings PLC GB00B0PPFY88 | ||
b) | Nature of transaction | 1 Exercise of options over 391,846 Ordinary Shares pursuant to Hansteen Holdings PLC Performance Share Plan 2012 2 Sale of 391,846 shares. | ||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
1. nil | 1. 391,846 | |||
2. Ranging from 93.82p to 94.5p | 2. 391,846 | |||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Total |
1 nil | 1 391,846 | 1 nil | ||
2 94.1826p | 2 391,846 | 2 £379,051 | ||
e) | Date of the transaction | 15 April 2019 and 16 April 2019 | ||
f) | Place of the transaction | London Stock Exchange | ||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name | Richard Lowes | |||
2 | Reason for the notification | ||||
a) | Position/status | Finance Director | |||
b) | Initial notification/Amendment | Initial Notification | |||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Hansteen Holdings PLC | |||
b) | LEI | 2138007274QQL9KBWY58 | |||
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 | ||||
a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of £0.10 each in the capital of Hansteen Holdings PLC GB00B0PPFY88 | |||
b) | Nature of transaction | 1 1 Exercise of options over 260,318 Ordinary Shares pursuant to Hansteen Holdings PLC Performance Share Plan 2012 2 Sale of 260,318 shares. | |||
c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | ||
1. nil | 1. 260,318 | ||||
2. Ranging from 93.82p to 94.5p | 2. 260,318 | ||||
d) | Aggregated information - Aggregated volume - Price | Price | Volume | Price | |
1 nil | 1 260,318 | 1 nil | |||
2 94.1826p | 2 260,318 | 2 £245,174 | |||
e) | Date of the transaction | 15 April 2019 and 16 April 2019 | |||
f) | Place of the transaction | London Stock Exchange | |||
For further information:
Anne-Marie Wells
Link Company Matters Limited
Company Secretary
Tel: 020 7954 9685