Last checked at 6 Dec 2023 15:51
NewRiver REIT plc
("NewRiver" or the "Company")
Notification of transactions by persons discharging managerial responsibilities.
The Company announces that on 4 December 2023, Allan Lockhart, Chief Executive Officer and Director of the Company, exercised the following nil cost options under the Company's Deferred Bonus Plan:
Number of nil-cost options | Grant date | Vesting date |
62,194 | 29 May 2018 | 29 May 2020 |
66,952 | 27 June 2019 | 27 June 2021 |
41,985 | 7 September 2021 | 7 September 2023 |
80,716 Ordinary shares were sold in order to cover the associated tax liability. 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.
Following these transactions, Allan Lockhart has a beneficial interest in 520,856 Ordinary Shares, increased by 90,415 from 430,441 Ordinary Shares prior to these transactions.
Allan also currently has the following outstanding vested and unvested share awards:
Plan | Number of nil-cost awards | Grant Date | Vesting date | Number of shares vested to date | Holding period end |
PSP | 604,121 | 21 Aug 2020 | 21 Aug 2023 | 302,060 | 21 Aug 2025 |
PSP | 699,790 | 7 Sept 2021 | 7 Sept 2024 | 7 Sept 2026 | |
DBS | 167,459 | 6 July 2022 | 6 July 2024 | - | |
PSP | 599,061 | 6 July 2022 | 6 July 2025 | 6 July 2027 | |
DBS | 171,584 | 29 June 2023 | 29 June 2025 | - | |
PSP | 545,361 | 29 June 2023 | 29 June 2026 | 29 June 2028 |
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
| Allan Lockhart | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PDMR - Chief Executive 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 171,131 nil cost share options granted under the NewRiver REIT plc Deferred Bonus Plan 2016. Sale of 80,716 shares to cover the associated tax liabilities | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price |
N/a single transaction
| ||||
e)
| Date of the transaction
| 4 December 2023
| ||||
f)
| Place of the transaction
| London Stock Exchange | ||||
For further information
NewRiver REIT plc | +44 (0)20 3328 5800 | ||
Kerin Williams (Company Secretary) |