13 Jun 2022 15:30
INDUSTRIALS REIT LIMITED
(formerly Stenprop Limited)
(Registered in Guernsey)
(Registration number 64865)
LSE share code: MLI JSE share code: MLI
ISIN: GG00BFWMR296
("Industrials REIT" or the "Company")
13 June 2022
Notification and public disclosure of transactions by Directors, in accordance with the Market Abuse Regulations.
Shareholders are advised of the following information relating to the acceptance of nil cost options awarded on 10 June 2022 under the Industrials REIT Limited Long-Term Incentive Plan (the "LTIP"). The nil cost options awarded under the LTIP will vest on 10 June 2025 subject to certain vesting conditions having been met, including performance targets set by the Remuneration Committee prior to the awards being made. Assuming that the performance targets are met in full at the end of the performance period, the nil cost options will result in the issue of 820,971 shares.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Paul Arenson | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer of Industrials REIT Limited | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Industrials REIT Limited | |||
b)
| LEI
| 5493004JYL71EMLTB211 | |||
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 | Ordinary shares with a nominal value of €0.000001258 | |||
Identification code | GG00BFWMR296 | ||||
b)
| Nature of the transaction
| Off-market acceptance of nil cost options in terms of the LTIP | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£1.8029 | 364,601 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 364,601 | ||||
- Price | £657,339.14 | ||||
e)
| Date of the transaction
| 2022-06-10 | |||
f)
| Place of the transaction
| off-market transaction | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Julian Carey | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Managing Director of Industrials REIT Limited | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Industrials REIT Limited | |||
b)
| LEI
| 5493004JYL71EMLTB211 | |||
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 | Ordinary shares with a nominal value of €0.000001258 | |||
Identification code | GG00BFWMR296 | ||||
b)
| Nature of the transaction
| Off-market acceptance of nil cost options in terms of the LTIP | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£1.8029 | 350,313 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 350,313 | ||||
- Price | £631,579.31 | ||||
e)
| Date of the transaction
| 2022-06-10 | |||
f)
| Place of the transaction
| off-market transaction | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| James Beaumont | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer of Industrials REIT Limited | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Industrials REIT Limited | |||
b)
| LEI
| 5493004JYL71EMLTB211 | |||
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 | Ordinary shares with a nominal value of €0.000001258 | |||
Identification code | GG00BFWMR296 | ||||
b)
| Nature of the transaction
| Off-market acceptance of nil cost options in terms of the LTIP | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£1.8029 | 106,057 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 106,057 | ||||
- Price | £191,210.17 | ||||
e)
| Date of the transaction
| 2022-06-10 | |||
f)
| Place of the transaction
| off-market transaction | |||
Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 10 June 2022 under the Industrials REIT Limited Deferred Share Bonus Plan (the "DSBP"). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2023 and the last third vesting on 31 March 2024. Once fully vested, they will result in the issue of 185,897 shares.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Paul Arenson | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer of Industrials REIT Limited | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Industrials REIT Limited | |||
b)
| LEI
| 5493004JYL71EMLTB211 | |||
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 | Ordinary shares with a nominal value of €0.000001258 | |||
Identification code | GG00BFWMR296 | ||||
b)
| Nature of the transaction
| Off-market acceptance of nil cost options in terms of the DSBP | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£1.8029 | 82,583 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 82,583 | ||||
- Price | £148,888.89 | ||||
e)
| Date of the transaction
| 2022-06-10 | |||
f)
| Place of the transaction
| off-market transaction | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Julian Carey | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Managing Director of Industrials REIT Limited | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Industrials REIT Limited | |||
b)
| LEI
| 5493004JYL71EMLTB211 | |||
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 | Ordinary shares with a nominal value of €0.000001258 | |||
Identification code | GG00BFWMR296 | ||||
b)
| Nature of the transaction
| Off-market acceptance of nil cost options in terms of the DSBP | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£1.8029 | 79,346 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 79,346 | ||||
- Price | £143,052.90 | ||||
e)
| Date of the transaction
| 2022-06-10 | |||
f)
| Place of the transaction
| off-market transaction | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| James Beaumont | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Financial Officer of Industrials REIT Limited | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Industrials REIT Limited | |||
b)
| LEI
| 5493004JYL71EMLTB211 | |||
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 | Ordinary shares with a nominal value of €0.000001258 | |||
Identification code | GG00BFWMR296 | ||||
b)
| Nature of the transaction
| Off-market acceptance of nil cost options in terms of the DSBP | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
£1.8029 | 23,968 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 23,968 | ||||
- Price | £43,211.91 | ||||
e)
| Date of the transaction
| 2022-06-10 | |||
f)
| Place of the transaction
| off-market transaction | |||
This announcement is made in accordance with Article 19 of the UK Market Abuse Regulation.
For further information:
Industrials REIT Limited Paul Arenson (paul.arenson@industrials.co.uk) Julian Carey (julian.carey@industrials.co.uk) James Beaumont (james.beaumont@industrials.co.uk)
| +44(0)20 3918 6600
|
Numis Securities Limited (Financial Adviser) Hugh Jonathan Vicki Paine
| +44(0)20 7260 1000
|
FTI Consulting (PR Adviser) Richard Sunderland Richard Gotla Neel Bose industrialsreit@fticonsulting.com
| +44(0)20 3727 1000
|
Java Capital (JSE Sponsor)
| +27 (0)11 722 3050
|
About Industrials REIT:
Industrials REIT is a UK REIT with a primary listing on the London Stock Exchange and a secondary listing on the JSE. The objective of the Company is to deliver a combination of sustainable growing income and growth in value to its investors. Industrials REIT focuses on owning and operating a diversified portfolio of UK purpose built multi-let industrial (MLI) estates across the UK. The Company aspires to be the leading MLI business in the UK. For further information, go to www.industrialsreit.com.