Last checked at 9 Jun 2015 16:32
9 June 2015
REAL ESTATE INVESTORS PLC
("REI" or the "Company")
Grant of Awards
Real Estate Investors plc (AIM:RLE), the West Midlands based property group, announces that on 8 June 2015 it granted annual awards to two Directors and other employees under the Real Estate Investors PLC Senior Executives Long Term Incentive Plan adopted in 2010. The awards give rights to certain Directors to acquire shares over a total of 1,375,000 ordinary shares in the Company ("Ordinary Shares") as detailed below at a price of 10p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 14% levels of annual return/growth are achieved. Previous awards granted in December 2010 have been cancelled.
Award Holder | Number of Ordinary Shares under Award | Expected Vesting Date |
Paul Bassi | 875,000 | April 2018 |
Marcus Daly | 500,000 | April 2018 |
Enquiries:
Real Estate Investors Plc |
|
Paul Bassi
| T: +44 (0)121 265 6400 |
Smith & Williamson Corporate Finance Limited (Nominated Adviser) | |
Azhic Basirov / David Jones
| T: +44 (0)20 7131 4000 |
Liberum Capital (Broker) | |
Tom Fyson / Jamie Richards
| T: +44 (0)20 3100 2000 |
Gable Communications Limited | T: +44 (0)20 7193 7463 |
John Bick
| M: +44 (0)7872 061007 E: reiplc@gablecommunications.com |
Notes to Editors
Real Estate Investors is an AIM listed property investment company with a £104.4 million (as at 31 December 2014) commercial and residential portfolio principally in the West Midlands and central England.
Real Estate Investors is focused on delivering shareholder value through returns generated from strong yields and capital enhancements. This is achieved by targeting investments in orphaned, distressed, part-let and underperforming commercial and residential property assets.
Real Estate Investors is led by respected property investor Paul Bassi CBE, who has over 30 years of property experience in the West Midlands. Mr Bassi is also founder and non-executive chairman of Bond Wolfe and non-executive chairman of CP Bigwood Chartered Surveyors. Real Estate Investors was admitted to trading on AIM in June 2004. Further information on Real Estate Investors can be found at www.reiplc.com.