Empiric Student Property PLC Bonus & LTIP options awards/PDMR (0188X)
April 25 2019 - 2:01AM
UK Regulatory
TIDMESP
RNS Number : 0188X
Empiric Student Property PLC
25 April 2019
25 April 2019
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
Annual Bonus and LTIP Option Awards / PDMR Notification
The Board of Empiric Student Property plc (ticker: ESP)
announces that on 24 April 2019, the Company granted Tim Attlee,
Chief Executive Officer, nil-cost options over 43,818 ordinary
shares in the Company ("Ordinary Shares") and Lynne Fennah, Chief
Financial & Operating Officer, nil-cost options over 57,559
Ordinary Shares relating to the deferred shares element of the
annual bonus award for the financial period to 31 December 2018
(the "Annual Bonus Award").
Further, and also on 24 April 2019, Lynne Fennah was granted
nil-cost options over 502,757 Ordinary Shares pursuant to the
Empiric Long Term Incentive Plan (the "LTIP") for the 2019
financial year.
The price used to calculate the number of Ordinary Shares under
the Annual Bonus Award and the LTIP was 92.49 pence, representing
the average of the daily closing prices of the Ordinary Shares on
the London Stock Exchange for the 12 month period ended 31 March
2019.
The Annual Bonus Award is not subject to any further performance
conditions and in normal circumstances will be exercisable on or
after the third anniversary of grant.
The amount granted under the LTIP represents the maximum number
of Ordinary Shares that may be granted to Lynne Fennah under the
LTIP.
The LTIP is subject to a performance condition whereby 25% of
the award vests for achieving a total return ("TR") of 8% per annum
increasing to 100% vesting for achieving 12% per annum TR, with the
Company's TR performance measured over a three-year period ending
31 December 2021. TR is calculated by the change in net asset value
per share of the Company plus dividends. The award is also subject
to an additional holding period of two years before being released
and becoming exercisable.
The total number of Ordinary Shares over which nil-cost options
were granted on 24 April 2019 represents approximately 0.10 per
cent. of the Company's issued share capital.
The LTIP transaction took place in the United Kingdom, with a
grant date of 24 April 2019 and the Directors being notified on 24
April 2019.
The Annual Bonus Award notification is made in accordance with
Article 19 of the Market Abuse Regulations and further details
required under Article 19(6) are set out in Appendix I below.
For further information on the Company, please contact:
Empiric Student Property plc (via Maitland/AMO below)
Tim Attlee (Chief Executive Officer)
Lynne Fennah (Chief Financial &
Operating Officer)
Jefferies International Limited Tel: 020 7029 8000
Gary Gould
Stuart Klein
Maitland/AMO (Communications Adviser) Tel: 020 7379 5151
James Benjamin Email: empiric-maitland@maitland.co.uk
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's
website at www.empiric.co.uk.
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 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.
APPIX I
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Attlee
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Director
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Empiric Student Property plc
--------------------------------------- -------------------------------------------
b) LEI 213800FPF38IBPRFPU87
--------------------------------------- -------------------------------------------
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 Nil-cost options over Ordinary Shares
financial instrument, of 1p each
type of instrument
Identification code GB00BLWDVR75
b) Nature of the transaction Nil-cost option award
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
92.49p 43,818
------------------- -------------------
d) Aggregated information
- Aggregated volume 43,818
- Price 92.49p
e) Date of the transaction 24 April 2019
--------------------------------------- -------------------------------------------
f) Place of the transaction London
--------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Lynne Fennah
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Director
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Empiric Student Property plc
--------------------------------------- -------------------------------------------
b) LEI 213800FPF38IBPRFPU87
--------------------------------------- -------------------------------------------
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 Nil-cost options over Ordinary Shares
financial instrument, of 1p each
type of instrument
Identification code GB00BLWDVR75
b) Nature of the transaction Nil-cost option award
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
92.49p 57,559
------------------- -------------------
d) Aggregated information
- Aggregated volume 57,559
- Price 92.49p
e) Date of the transaction 24 April 2019
--------------------------------------- -------------------------------------------
f) Place of the transaction London
--------------------------------------- -------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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