Last checked at 1 Jul 2020 16:17
Picton Property Income Ltd - Long Term Incentive Plan Awards VestingPicton Property Income Ltd - Long Term Incentive Plan Awards Vesting
PR Newswire
London, July 1
1 July 2020
PICTON PROPERTY INCOME LIMITED
(“Picton”, the “Company” or the “Group”)
LEI: 213800RYE59K9CKR4497
LONG TERM INCENTIVE PLAN AWARDS VESTING
Picton announces the vesting of share awards previously granted to Persons Discharging Managerial Responsibility (“PDMRs”) under the Picton Property Income Limited 2016 Long Term Incentive Plan (“LTIP”).
In respect of the LTIP awards granted on the following dates the following share awards have now vested and been exercised over the number of ordinary shares as set out below:
| PDMR | Grant date | Number of shares vested | Number of shares sold |
| Michael Morris | 27 January 2017* | 296,815 | 139,503 |
| Michael Morris | 16 June 2017 | 222,766 | 104,700 |
| Andrew Dewhirst | 27 January 2017* | 174,899 | 82,203 |
| Andrew Dewhirst | 16 June 2017 | 131,265 | 61,695 |
| Jay Cable | 16 June 2017 | 100,490 | 100,490 |
The linked tax qualifying options indicated above (*) have not been exercised and have therefore lapsed.
The sale price for the shares sold was 67.83 pence per share. PDMRs who are Executive Directors sold sufficient shares to fund the tax liabilities arising on vesting of their share awards.
This notification is made in accordance with the Market Abuse Regulation.
For further information:
Tavistock
Jeremy Carey/James Verstringhe, 020 7920 3150, james.verstringhe@tavistock.co.uk
Picton Property Income Limited
Michael Morris, 020 7011 9980, michael.morris@picton.co.uk.
Note to Editors
Picton, established in 2005, is a UK REIT. It owns and actively manages a £665 million diversified UK commercial property portfolio, invested across 47 assets and with around 350 occupiers (as at 31 March 2020). Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange. For more information please visit: www.picton.co.uk.
ENDS