29 Nov 2019 09:30
RDI REIT P.L.C.
("RDI" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745
ADMISSION OF NEW ORDINARY SHARES FOLLOWING VESTING OF SHARE AWARDS
On 29 November 2019, deferred bonus awards made to executive directors under the Company's STIP (which was approved by shareholders at the Annual General Meeting held on 23 January 2017) vested in full. The vesting price per ordinary share was 127.40p
The ordinary shares were issued to participants for nil consideration and for certain individual directors, a number of shares were settled by the Company in cash to meet tax and national insurance liabilities. The number of new ordinary shares in RDI issued to each executive director (the "New Shares") is set out below:
Director/PDMR | 40p Ordinary Shares vested | Number of Shares settled in cash | New Shares issued on 2 Dec 2019 |
Mike Watters | 95,258 | - | 95,258 |
Stephen Oakenfull | 67,753 | 30,489 | 37,264 |
Adrian Horsburgh | 61,662 | - | 61,662 |
Donald Grant | 57,301 | 25,785 | 31,516 |
Total | 281,974 | 56,274 | 225,700 |
Executive Directors Interests
Following the issue of the New Shares, Executive directors' interests in RDI shares are as follows:
Name | Total holding after the issue of New Shares | Percentage of issued share capital |
Mike Watters | 1,446,129 | 0.38 |
Stephen Oakenfull | 161,971 | 0.04 |
Adrian Horsburgh | 74,498 | 0.02 |
Donald Grant | 46,516 | 0.01 |
Total | 1,729,114 | 0.45 |
Total Voting Rights
An application has been made for the admission of 225,700 New Shares to the Premium Segment of the Official List and to trading on the London Stock Exchange's main market for listed securities, ("Admission"). Admission is expected to take place at 8.00 a.m. (UK time) on 2 December 2019. The New Shares will be listed on the Main Board of the JSE with effect from 9.00 a.m. on 2 December 2019 (South African time).
Following Admission, the total number of voting rights will be 380,315,623. No ordinary shares are held in treasury. The figure of 380,315,623 ordinary shares in the Company may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information:
RDI REIT P.L.C. | |
Mike Watters, Donald Grant | Tel: +44 (0) 20 7811 0100 |
FTI Consulting | |
UK Public Relations Adviser | |
Dido Laurimore, Claire Turvey, Ellie Sweeney rdireit@fticonsulting.com | Tel: +44 (0) 20 3727 1000 |
Instinctif Partners | |
SA Public Relations Adviser | |
Frederic Cornet RDI@instinctif.com | Tel: +27 (0) 11 447 3030 |
JSE Sponsor | |
Java Capital | Tel: + 27 (0) 11 722 3050 |
Note to editors:
About RDI
RDI is an income focused UK-REIT with a diversified portfolio invested principally in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office operating platforms.
RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an industry leading and sustainable income return.
RDI is a UK Real Estate Investment Trust (UK-REIT) and holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com