10 Jun 2019 15:45
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, BY A DIRECTOR OF MAJOR SUBSIDIARIES OF THE COMPANY AND
BY THE COMPANY SECRETARY
10 June 2019
Shareholders are advised of the following information relating to the acceptance of nil cost options and market value options awarded on 6 June 2019 under the Stenprop Limited Long Term Incentive Plan ("Long Term Incentive Plan"). The nil cost options will vest on 31 March 2022 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 964,172 shares. The market value options will vest in three tranches on 31 March 2020, 31 March 2021 and 31 March 2022 and once fully vested will result in the issue of 320,063 shares subject to the payment of the exercise price of £1.1171 per share.
Name of director: | Paul Arenson |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 491,631 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Long Term Incentive Plan Direct beneficial Yes |
Name of director: | Julian Carey |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 472,541 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Long Term Incentive Plan Direct beneficial Yes |
Name of director: | James Beaumont |
Transaction date: | 6 June 2019 |
Class of securities: | Market value options |
Number of securities: | 109,361 |
Total price payable on exercise: | £122,167.17 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of market value options in terms of the Long Term Incentive Plan Direct beneficial Yes |
Name of director: | Neil Marais |
Name of major subsidiaries: | Stenprop (UK) Limited and Stenprop (Germany) Limited |
Transaction date: | 6 June 2019 |
Class of securities: | Market value options |
Number of securities: | 94,627 |
Total price payable on exercise: | £105,707.82 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of market value options in terms of the Long Term Incentive Plan Direct beneficial Yes |
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Name of company secretary: | Sarah Bellilchi |
Transaction date: | 6 June 2019 |
Class of securities: | Market value options |
Number of securities: | 116,075 |
Total price payable on exercise: | £129,667.38 |
Nature of transaction:
Nature and extent of company secretary's interest: Clearance to deal received: | Off-market acceptance of market value options in terms of the Long Term Incentive Plan Direct beneficial Yes |
Shareholders are further advised of the following information relating to the acceptance of nil cost options awarded on 6 June 2019 under the Stenprop Limited Amended Deferred Share Bonus Plan ("Deferred Bonus Plan"). One third of these nil cost options vested immediately, with the second third vesting on 31 March 2020 and the last third vesting on 31 March 2021. Once fully vested, they will result in the issue of 478,296 shares.
Name of director: | Paul Arenson |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 142,137 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes |
Name of director: | Patsy Watson |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 136,618 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes |
Name of director: | Julian Carey |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 136,618 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes |
Name of director: | James Beaumont |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 21,112 |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes |
Name of director: | Neil Marais | |
Name of major subsidiaries: | Stenprop (UK) Limited and Stenprop (Germany) Limited |
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Transaction date: | 6 June 2019 | |
Class of securities: | Nil cost options | |
Number of securities: | 17,347 | |
Nature of transaction:
Nature and extent of director's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes | |
Name of company secretary: | Sarah Bellilchi |
Transaction date: | 6 June 2019 |
Class of securities: | Nil cost options |
Number of securities: | 24,469 |
Nature of transaction:
Nature and extent of company secretary's interest: Clearance to deal received: | Off-market acceptance of nil cost options in terms of the Deferred Bonus Plan Direct beneficial Yes |
For further information:
Stenprop Limited +44(0)20 3918 6600
Paul Arenson
Julian Carey
James Beaumont
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
Tavistock (PR Adviser) +44(0)20 7920 3150
James Whitmore
James Verstringhe
Charlotte Dale
Java Capital +27 (0)11 722 3050
(JSE sponsor)
About Stenprop:
Stenprop is a Guernsey-registered UK REIT. 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 www.stenprop.com.