NewRiver Retail Limited Grant of Awards (4429A)
September 28 2015 - 10:50AM
UK Regulatory
TIDMNRR
RNS Number : 4429A
NewRiver Retail Limited
28 September 2015
NewRiver Retail Ltd
("NewRiver" or the "Company")
Grant of Awards
NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in
value-creating retail property investment, active asset management
and development, announces that on 28 September 2015 it granted
awards under the NewRiver Retail Limited Performance Share Plan
2009, giving rights to acquire shares for nil consideration over a
total of 773,072 ordinary shares of no par value ("Ordinary
Shares") in the Company to Directors as detailed below.
Award Holder Number of Ordinary Vesting Dates
Shares under
Award
---------------- ------------------- ---------------------
David Lockhart 117,578 50% on 28 September
2018
117,577 50% on 28 September
2019
---------------- ------------------- ---------------------
Allan Lockhart 102,881 50% on 28 September
2018
102,880 50% on 28 September
2019
---------------- ------------------- ---------------------
Mark Davies 88,183 50% on 28 September
2018
88,183 50% on 28 September
2019
---------------- ------------------- ---------------------
Nicholas Sewell 77,895 50% on 28 September
2018
77,895 50% on 28 September
2019
---------------- ------------------- ---------------------
The awards have been made over 200% of salary and are therefore
subject to, and split between one-third each, the three enhanced
performance conditions which are outlined below. The Company
consulted with its largest shareholders in respect of these
awards.
Total Shareholder Return ("TSR")
For shares allocated against the TSR performance, 25% vest if
TSR is 9% on a compound annual basis with full vesting at 16% with
straight-line vesting in between.
Adjusted EPRA Earnings Per Share ("EPS")
For shares allocated against the EPS performance, 25% vest if
the compound annual percentage growth is 5% per annum with full
vesting at 12% with straight-line vesting in between.
Net Asset Value plus Dividends ("NAV")
For shares allocated against the NAV performance, 25% vest if
NAV increases by 9% on a compound annual percentage growth with
full vesting at 16% with straight-line vesting in between.
Half of the award will be tested and be capable of vesting after
three years and half will be tested and capable of vesting after
four years.
-Ends-
NewRiver Retail Limited Tel: 020 3328 5800
David Lockhart, Chief Executive
Mark Davies, Finance Director
Bell Pottinger Tel: 020 3772 2500
David Rydell / James Newman / David Bass
Liberum Tel: 020 3100 2000
Richard Crawley / Jamie Richards
Peel Hunt LLP Tel: 020 7418 8900
Capel Irwin / Alex Vaughan / Hugh Preston
About NewRiver
NewRiver Retail Limited is an AIM listed REIT. The Company is a
specialist real estate investor, asset manager and developer
focused solely on the UK retail sector. At the close of 2014
NewRiver Retail was named Property Company of the Year - Retail
& Leisure at the Estates Gazette Awards.
The management team, with over 100 years combined experience in
the UK commercial property market, actively engages with retailers,
stakeholders and consumers. NewRiver Retail is one of the UK's
largest shopping centre owner/managers with assets under management
of GBP1 billion million principally comprising 29 UK wide shopping
centres, further nationwide retail assets and a portfolio of 360
public houses with retail extension opportunities. The portfolio
has 1,440 occupiers, a total of over 6.0 million sq. ft., total
annual footfall of over 126 million and a retail occupancy rate of
96 per cent.
The Company's activities include active and entrepreneurial
asset management and risk-controlled development, utilising both
its own balance sheet and co-investment joint venture
structures.
Founded in 2009, NewRiver has become the UK's leading
retail-focused property investment business. The Company's shares
were admitted to London's AIM in September of the same year. For
more information on NewRiver, please visit www.nrr.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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