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15 Jun 2021 12:00
STENPROP LIMITED
(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP JSE share code: STP
ISIN: GG00BFWMR296
("Stenprop" or the "Company")
DEALINGS IN SECURITIES BY DIRECTORS, THE COMPANY SECRETARY AND A PERSON DISCHARGING MANAGERIAL RESPONSIBILITY
15 June 2021
Shareholders are advised of the following information relating to the acceptance of nil cost options and market value options awarded on 11 June 2021 under the Stenprop Limited Long-Term Incentive Plan (the "LTIP"). The nil cost options will vest on 11 June 2024 subject to certain vesting conditions having been met, including performance targets set by the remuneration committee prior to the awards being made. Assuming that the performance targets are met in full at the end of the performance period, the nil cost options will result in the issue of 834,390 shares. The market value options will vest in three tranches on 31 March 2022, 31 March 2023 and 31 March 2024 and once fully vested will result in the issue of 88,313 shares subject to the payment of the exercise price of £1.5615 per share.
Name of director: | Paul Arenson |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 366,058 |
Nature of transaction | Off-market acceptance of nil cost options in terms of the LTIP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name of director: | Julian Carey |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 351,713 |
Nature of transaction: | Off-market acceptance of nil cost options in terms of the LTIP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name of director: | James Beaumont |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 116,619 |
Nature of transaction: | Off-market acceptance of nil cost options in terms of the LTIP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name of company secretary: | Sarah Bellilchi |
Transaction date: | 11 June 2021 |
Class of securities: | Market value options |
Number of securities: | 88,313 |
Total price payable on exercise: | £137,900.75 |
Nature of transaction: | Off-market acceptance of market value options in terms of the LTIP |
Nature and extent of company secretary's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 11 June 2021 under the Stenprop Limited Deferred Bonus Plan (the "DBP"). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2022 and the last third vesting on 31 March 2023. Once fully vested, they will result in the issue of 357,884 shares.
Name of director: | Paul Arenson |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 162,248 |
Nature of transaction: | Off-market acceptance of nil cost options in terms of the DBP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name of director: | Julian Carey |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 155,908 |
Nature of transaction: | Off-market acceptance of nil cost options in terms of the DBP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name of director: | James Beaumont |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 25,850 |
Nature of transaction: | Off-market acceptance of nil cost options in terms of the DBP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name of company secretary: | Sarah Bellilchi |
Transaction date: | 11 June 2021 |
Class of securities: | Nil cost options |
Number of securities: | 13,878 |
Nature of transaction: | Off-market acceptance of nil cost options in terms of the DBP |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Finally, shareholders are advised of the following information relating to the exercise of vested market value options and the subsequent disposal of ordinary shares of the Company.
Name: | Neil Marais |
Position: | Director of Stenprop (Swiss) Limited and Stenprop Trafalgar Limited, being subsidiaries of Stenprop |
Transaction date: | 11 June 2021 |
Class of securities: | Market value option |
Number of securities exercised: | 112,743 |
Price per security | GBP 0.9348 |
Total value of the transaction: | GBP 105,397.60 |
Nature of transaction: | Off-market exercise of market value options |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
Name: | Neil Marais |
Position: | Director of Stenprop (Swiss) Limited and Stenprop Trafalgar Limited, being subsidiaries of Stenprop |
Transaction date: | 11 June 2021 |
Class of securities: | Ordinary shares |
Number of securities sold: | 112,743 |
Price per security | GBP 1.595 |
Total value of the transaction: | GBP 179,825.09 |
Nature of transaction: | On-market sale |
Nature and extent of director's interest: | Direct beneficial |
Clearance to deal received: | Yes |
The Company utilised treasury shares to settle the exercise of the market value options to the above participant. Following this transaction, the total number of treasury shares held by the Company is 12,745,207 and the total number of shares in issue less shares held in treasury is 286,020,968.
For further information:
Stenprop Limited +44(0)20 3918 6600
Paul Arenson (paul.arenson@stenprop.com)
Julian Carey (julian.carey@stenprop.com)
James Beaumont (james.beaumont@stenprop.com)
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
Justin Bell
FTI Consulting +44(0)20 3727 1000
Richard Sunderland stenprop@fticonsulting.com
Richard Gotla
Indraneel Bose
Java Capital Trustees and Sponsors Proprietary Limited +27 (0)11 722 3050
(JSE Sponsor)
About Stenprop:
Stenprop is a UK REIT listed on the LSE and the JSE. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to stenprop.com.
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