21 Feb 2019 12:00
21 February 2019
St. Modwen Properties PLC
(the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them (in accordance with the Market Abuse Regulations)
St. Modwen Properties PLC announces the following transactions:
2019 Performance Share Plan Award
On 20 February 2019 awards under the St. Modwen Properties PLC 2017 Performance Share Plan, structured as nil-cost options over the Company's ordinary shares of 10 pence each, were granted to the executive directors noted below:
Director / PDMR | Number of shares comprising award |
Mark Allan | 224,170 |
Rob Hudson | 125,802 |
Vesting of the awards is subject to the achievement of relative TSR performance (assessed on a median to upper quartile ranking approach using a bespoke comparator group of real estate companies) and total accounting return (measuring growth in net asset value plus dividends paid), both measured independently over the three financial years ending on 30 November 2021.The awards are also subject to a compulsory two-year post-vesting holding period.
The notifications set out below relating to the above transactions are provided in accordance with the requirements of the EU Market Abuse Regulation.
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Mark Allan |
2. | Reason for the Notification | |
a) | Position/status | Chief Executive |
b) | Initial notification/Amendment | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | St. Modwen Properties PLC |
b) | LEI | 213800WMV4WVES8TQH05 |
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the Financial instrument, type of instrument | Ordinary shares of 10 pence each in St. Modwen Properties PLC |
Identification code | GB0007291015 | |
b) | Nature of the transaction | Nil cost option over 224,170 ordinary shares granted under the St. Modwen Properties PLC 2017 Performance Share Plan ("2019 PSP"). Vesting of award subject to satisfaction of performance conditions measured over a three-year period ending on 30 November 2021. Award subject to a compulsory two-year post-vesting holding period. |
c) | Price(s) and volume(s) | N/A |
d) | Aggregated information: | N/A |
e) | Date of the transaction | 2019-02-20 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Robert Hudson |
2. | Reason for the Notification | |
a) | Position/status | Chief Financial Officer |
b) | Initial notification/Amendment | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | St. Modwen Properties PLC |
b) | LEI | 213800WMV4WVES8TQH05 |
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
a) | Description of the Financial instrument, type of instrument | Ordinary shares of 10 pence each in St. Modwen Properties PLC |
Identification code | GB0007291015 | |
b) | Nature of the transaction | Nil cost option over 125,802 ordinary shares granted under the St. Modwen Properties PLC 2017 Performance Share Plan ("2019 PSP"). Vesting of award subject to satisfaction of performance conditions measured over a three-year period ending on 30 November 2021. Award subject to a compulsory two-year post-vesting holding period. |
c) | Price(s) and volume(s) | N/A |
d) | Aggregated information: | N/A |
e) | Date of the transaction | 2019-02-20 |
f) | Place of the transaction | Outside a trading venue |
LEI: 213800WMV4WVES8TQH05