28 Oct 2015 14:15
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
GRANT OF CONTINGENT AWARDS UNDER LONG TERM PERFORMANCE SHARE PLAN
Redefine International, the FTSE 250 income focused UK Real Estate Investment Trust ("UK-REIT"), announces that contingent share awards have been granted to certain executive directors under the Redefine International P.L.C. Long Term Performance Share Plan ("PSP"), which was approved by shareholders in November 2013, and forms part of the Company's Remuneration Policy, which was approved by shareholders at the AGM on 29 January 2015.
Each of the following executive directors and persons discharging managerial responsibility ("PDMR") have, on 28 October 2015, been granted contingent share awards over the number of ordinary shares in Redefine International under the terms of the PSP, as set out below:
Director/PDMR | Number of PSP shares awarded on 28 October 2015
| Total number of shares held as awards under the PSP following grant |
Michael Watters
| 1,698,515 | 5,201,765 |
Stephen Oakenfull | 1,099,617 | 3,367,617 |
Adrian Horsburgh | 1,099,617 | 1,577,950 |
Donald Grant | 1,072,797 | 1,072,797 |
The awards will vest three years from date of grant, subject to continued employment and the satisfaction of two total shareholder return related performance targets. The figures above reflect the maximum number of shares that could vest. The actual number that will vest will depend on the extent to which the performance targets are satisfied over the performance period. No consideration was paid for any of the awards and no consideration is due on vesting. This notification is made in accordance with DTR 3.1.4R (1)(a).
For further information:
Redefine International P.L.C. |
|
Michael Watters, Stephen Oakenfull
| Tel: +44 (0) 20 7811 0100 |
FTI Consulting UK Public Relations Adviser | |
Dido Laurimore, Claire Turvey, Ellie Sweeney
FTI Consulting SA Public Relations Adviser Max Gebhardt
| Tel: +44 (0) 20 3727 1000
Tel: +27 (0) 11 214 2402 |
JSE Sponsor Java Capital
|
Tel: +27 (0) 11 722 3050
|
Notes to editors:
Redefine International (RDI) is a FTSE 250 income focused UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
The Group's investment portfolio is diversified across the retail, commercial and hotel sectors in the UK and Germany with an aggregate value in excess of £1.3 billion.
Redefine International is focused on delivering sustainable and growing income to shareholders through investment in income yielding assets let to high quality occupiers on long leases. Capital values are enhanced and protected by asset management and other low capex development activities.
As a UK-REIT, the Group aims to distribute the majority of its earnings available for distribution on a semi-annual basis, providing investors with attractive income returns as well as exposure to capital growth opportunities.
www.redefineinternational.com