21 Mar 2018 12:00
21st March 2018
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:
2018 Performance Share Plan Award
On 20th March 2018 awards under the St. Modwen Properties PLC 2017 Performance Share Plan, structured as nil-cost options over the Company's ordinary shares of 10p each, were granted to the executive directors noted below:
Director / PDMR | Number of shares comprising award |
Mark Allan | 222,700 |
Rob Hudson | 124,977 |
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 30th November 2020. Further information on the performance targets can be found in the Directors' Remuneration Report in the Company's 2017 Annual Report available at www.stmodwen.co.uk. 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 222,700 ordinary shares granted under the St. Modwen Properties PLC 2017 Performance Share Plan ("2018 PSP"). Vesting of award subject to satisfaction of performance conditions measured over a three-year period ending on 30th November 2020. 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 | 2018-03-20 |
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 124,977 ordinary shares granted under the St. Modwen Properties PLC 2017 Performance Share Plan ("2018 PSP"). Vesting of award subject to satisfaction of performance conditions measured over a three-year period ending on 30th November 2020. 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 | 2018-03-20 |
f) | Place of the transaction | Outside a trading venue |