Last checked at 11 Sep 2023 15:06
NewRiver REIT plc
("NewRiver" or the "Company")
Notification of transactions by persons discharging managerial responsibilities and persons closely associated
The Company announces that on 8 September 2023, Will Hobman, Chief Financial Officer and Director of the Company, exercised 96,402 nil-cost share options, which were granted in August 2020 under the Company's Performance Share Plan 2016 ('PSP') and subsequently vested on 21 August 2023. Vesting of the awards was subject to the Company's total shareholder return and total accounting return performance conditions measured over a three-year period, which resulted in vesting of 50% of maximum.
Separately, also on 8 September 2023, Will Hobman, exercised 24,564 nil cost share options which were granted in September 2021 under the NewRiver REIT plc Deferred Bonus Plan 2016.
Will Hobman has paid the income tax and National Insurance contributions from personal funds on both transactions and has therefore retained the full balance of Shares.
Following these transactions, Will Hobman has a beneficial interest in 354,955 Ordinary Shares, increased by 120,966 from 233,989 Ordinary Shares prior to these transactions.
The exercise of the nil-cost options has been satisfied through the transfer of existing Shares held by the Employee Benefit Trust and, as such, no new Shares have been issued in connection with the option exercise.
This announcement is made in accordance with the requirements of the EU Market Abuse Regulation. The notification of dealing forms can be found below.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Will Hobman | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PDMR - Chief Financial Officer | ||||
b)
| Initial notification /Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| NewRiver REIT plc | ||||
b)
| LEI
| 2138004GX1VAUMH66L31 | ||||
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 one penny each
GB00BD7XPJ64 | ||||
b)
| Nature of the transaction
| Exercise of 96,402 nil cost options granted under the NewRiver REIT plc Performance Share Plan 2016 | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
N/a single transaction
| ||||
e)
| Date of the transaction
| 8 September 2023
| ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name
| Will Hobman | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PDMR - Chief Financial Officer | ||||
b)
| Initial Notification/Amendment
| Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| NewRiver REIT plc | ||||
b)
| LEI
| 2138004GX1VAUMH66L31 | ||||
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 one penny each
GB00BD7XPJ64 | ||||
b)
| Nature of the transaction
| Exercise of 24,564 nil cost options granted under the NewRiver REIT plc Deferred Bonus Plan 2016. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
N/a single transaction
| ||||
e)
| Date of the transaction
| 8 September 2023
| ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
For further information
NewRiver REIT plc | +44 (0)20 3328 5800 | ||
Lucy Mitchell (Communications & Investor Relations) Kerin Williams (Company Secretary) |