22 Feb 2016 08:38
Urban&Civic plc
22 February 2016
Urban&Civic plc (the "Company")
Exercise of Options and Director's Dealing
The Company was notified on 19 February 2016 that two directors have exercised nominal-cost options to acquire shares on 18 February 2016 issued under the Urban&Civic Performance Share Plan as follows:
Name | Number of options exercised | Number of shares sold to meet tax and NI liability | Number of shares held following exercise |
Philip Leech | 106,735 | 54,856 | 511,503 |
Jon Austen | 90,433 | 46,477 | 280,708 |
The options had been awarded in June 2013 and vesting was by reference to the growth in EPRA NAV and Total Shareholder Return over a three year period ending on 30 September 2015. The performance against the targets was such that 50% of the award vested and which has now been exercised in full.
The shares transferred to the Directors noted above, after the sale of shares to meet tax and NI liabilities, amounted to 95,835 ordinary shares which were satisfied by transfers from the Employee Benefit Trust. As a consequence of these transfers and other similar transfers to non-PDMRs, the Employee Benefit Trust now holds 1,373,618 ordinary shares in the Company.
The Company was informed of the above transactions by the Directors noted above in accordance with the requirements of paragraph DTR 3.1.2R of the Disclosure and Transparency Rules of the Financial Services Authority. The above notification is intended to satisfy the Company's obligations under DTR 3.1.4.R of the Disclosure and Transparency Rules of the Financial Services Authority.
Urban&Civic plc
Jon Austen 020 7509 5555