Empiric Student Property PLC Notification of LTIP Option Award / PDMR (4060Z)
December 14 2017 - 9:31AM
UK Regulatory
TIDMESP
RNS Number : 4060Z
Empiric Student Property PLC
14 December 2017
This announcement replaces the Company's earlier announcement
(RNS: 3507Z). This announcement notes that the award represents
83.3% of the maximum number of Ordinary Shares that may be granted
to Lynne Fennah under the LTIP and corrects dates in the previous
announcement from June 2019 and November 2019 to June 2020 and
December 2020, respectively. All other information remains the
same.
14 December 2017
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
Notification of LTIP Option Award / PDMR
The Board of Empiric Student Property plc (ticker: ESP), the
owner and operator of premium student accommodation across the UK,
announces that on 12 December 2017, the Company granted nil-cost
options over a total of 135,610 ordinary shares in the Company
("Ordinary Shares") pursuant to the Empiric Long Term Incentive
Plan (the "LTIP") to Lynne Fennah, the Company's Chief Financial
Officer.
The amount represents 83.3% of the maximum number of Ordinary
Shares that may be granted to Lynne Fennah under the LTIP. The
price used to calculate the number of Ordinary Shares was
GBP1.0739, representing the average of the daily closing prices of
the Ordinary Shares on the London Stock Exchange for the 12 month
period ended 30 November 2017.
The LTIP is subject to a performance condition linked to Total
Shareholder Return, measured to the period ending 30 June 2020 and
is expected to vest in December 2020 if the condition is met. The
performance condition is designed to ensure alignment between the
incentivisation of the Company's Executive Directors and the
interests of shareholders.
The total number of Ordinary Shares over which nil-cost options
were granted on 12 December 2017 represents approximately 0.02 per
cent. of the Company's issued share capital.
The above transactions took place in the United Kingdom, with a
grant date of 12 December 2017 and the Directors being notified on
12 December 2017.
For further information on the Company, please contact:
Empiric Student Property plc (via Newgate below)
Tim Attlee (Chief Executive)
Lynne Fennah (Chief Financial
Officer)
Akur Limited (Joint Financial Tel: 020 7493 3631
Adviser)
Tom Frost
Anthony Richardson
Siobhan Sergeant
Jefferies International Limited Tel: 020 7029 8000
(Joint Financial Adviser and
Broker)
Gary Gould
Stuart Klein
Newgate (PR Adviser) Tel: 020 7680 6550
James Benjamin Em: empiric@newgatecomms.com
Anna Geffert
Lydia Thompson
Further information on Empiric can be found on the Company's
website at www.empiric.co.uk.
The Company's LEI is 213800FPF38IBPRFPU87.
Notes:
Empiric Student Property plc is a leading provider and operator
of modern, direct-let, nominated or leased student accommodation
across the UK. Investing in both operating and development assets,
Empiric is a multi-niche student property company focused on, (i)
providing good quality first year accommodation managed through its
Hello Student(R) operating platform in partnership with
universities, (ii) offering a variety of second and third year
purpose built accommodation options for individual students and
those wanting a group living environment, and (iii) continuing to
expand the Group's existing premium, studio-led accommodation
portfolio which is attractive to international and postgraduate
students.
The Company, an internally managed real estate investment trust
("REIT") incorporated in England and Wales, listed on the premium
listing segment of the Official List of the Financial Conduct
Authority and was admitted to trading on the main market for listed
securities of the London Stock Exchange in June 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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