Last checked at 8 Apr 2016 15:08
8 April 2016
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 7 April 2016 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 1,031,745 ordinary shares in the Company ("Ordinary Shares") as detailed below at a price of 1p 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.
Award Holder | Number of Ordinary Shares under Award | Expected Vesting Date |
Paul Bassi | 634,920 | April 2019 |
Marcus Daly | 396,825 | April 2019 |
Enquiries:
Real Estate Investors plc |
|
Paul Bassi
| +44 (0)121 212 3446 |
Smith & Williamson Corporate Finance Limited | |
Azhic Basirov/David Jones
| +44 (0)20 7131 4000 |
Liberum | |
Jamie Richards/Tom Fyson
| +44 (0)20 3100 2000 |
Gable Communications Limited | +44 (0)20 7193 7463 |
John Bick
| +44 (0)7872 061007 rei@gablecommunications.com |
About Real Estate Investors plc
Real Estate Investors plc is a publicly quoted property investment company with a portfolio of over 1,000,000 sq ft of commercial property managed by a highly experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.
The Company's strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier.
On 1st January 2015, the Company converted to a Real Estate Investment Trust (REIT). Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.
The Company aims to deliver capital growth and income enhancement from its assets with the view to implementing a progressive dividend policy. Further information on the Company can be found at www.reiplc.com.