Last checked at 31 Jul 2015 13:12
NewRiver Retail Ltd
("NewRiver" or the "Company")
Deferred Bonus Share Awards
NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, announces that on 31 July 2015 it granted share awards, under the Company's new Deferred Bonus Plan. This year, the Remuneration Committee of the Company introduced a policy of deferring the payment of a portion of bonuses into shares and determined that for bonuses paid in respect of the year to 31 March 2015, this portion would be 30%.
Accordingly, the following deferred bonus share awards, structured as nil-cost options, have been made to executive directors of the Company.
Award Holder | Number of Ordinary Shares under Deferred Bonus Award | Vesting Date |
David Lockhart | 40,000 | 12 May 2017 |
Allan Lockhart | 49,000 | 12 May 2017 |
Mark Davies | 40,000 | 12 May 2017 |
Nicholas Sewell | 21,000 | 12 May 2017 |
The Awards will be subject to clawback and malus provisions.
-Ends-
NewRiver Retail Limited David Lockhart, Chief Executive Mark Davies, Finance Director | Tel: 020 3328 5800 |
Bell Pottinger David Rydell / James Newman / David Bass | Tel: 020 3772 2500 |
Liberum Richard Crawley / Jamie Richards | Tel: 020 3100 2000 |
Peel Hunt LLP Capel Irwin / Alex Vaughan / Hugh Preston | Tel: 020 7418 8900 |
About NewRiver
NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor and asset manager focused solely on UK retail with a particular focus on food and value retailing. NewRiver Retail was named Property Company of the Year - Retail & Leisure at the Estates Gazette Awards at the close of 2014.
The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of £918 million principally comprising 29 UK wide shopping centres, further nationwide retail assets and a portfolio of 202 public houses principally suitable for conversion to alternative uses. The portfolio has 1,411 occupiers, a total of over 6 million sq ft, total annual footfall of over 121 million and a retail occupancy rate of 96 per cent.
In June 2015, NewRiver announced its intention to move from AIM to the Main Market of the London Stock Exchange within 12 months.