Redefine International PLC Grant of Contingent Awards (1252V)
January 25 2017 - 10:30AM
UK Regulatory
TIDMRDI
RNS Number : 1252V
Redefine International PLC
25 January 2017
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
GRANT OF CONTINGENT AWARDS UNDER LONG TERM PERFORMANCE SHARE
PLAN
Redefine International, the FTSE 250 income focused UK Real
Estate Investment Trust ("UK-REIT"), announces that contingent
share awards have been granted to certain executive directors under
the Redefine International P.L.C. Long Term Performance Share Plan
("PSP"), which was approved by shareholders in November 2013, and
forms part of the Company's New Remuneration Policy, which was
approved by shareholders at the Annual General Meeting held on 23
January 2017.
Each of the following executive directors and persons
discharging managerial responsibility ("PDMR") have, on 25 January
2017, been granted contingent share awards over the number of
ordinary shares in Redefine International under the terms of the
PSP, as set out below:
Director/PDMR Number of PSP shares Total number of
awarded on 25 January shares held as
2017 awards under the
PSP following grant
Mike Watters 1,698,440 5,170,205
Stephen Oakenfull 1,099,567 3,347,184
Adrian Horsburgh 1,099,567 2,677,517
Donald Grant 1,021,665 2,094,462
The awards will vest three years from date of grant, subject to
continued employment and the satisfaction of performance targets.
The figures above reflect the maximum number of shares that could
vest. The actual number that will vest will depend on the extent to
which the performance targets are satisfied over the performance
period. No consideration was paid for any of the awards and no
consideration is due on vesting. This notification is made in
accordance with DTR 3.1.4R (1)(a).
For further information:
Redefine International P.L.C.
Mike Watters, Stephen Oakenfull Tel: +44 (0) 20
7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Tel: +44 (0) 20
Ellie Sweeney 3727 1000
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet, Lizelle du Tel: +27 (0) 11
Toit 447 3030
Java Capital
JSE Sponsor Tel: +27 (0) 11
722 3050
Note to editors:
About Redefine International
Redefine International is an income focused FTSE 250 UK Real
Estate Investment Trust (UK-REIT) committed to delivering superior
distributions to its shareholders throughout the property
cycle.
The Company's income driven total returns are underpinned by a
diversified portfolio, together with an efficient capital
structure. The continued transformation of both the corporate
structure and asset base offer a solid foundation to drive further
value. The diversified portfolio, independently valued at GBP1.53
billion, is focused in Europe's two strongest economies, being the
United Kingdom and Germany. The portfolio is weighted towards well
located properties across a range of sectors, including retail,
offices, distribution and hotels, which benefit from strong demand
and from which they can capture income and value growth by
attracting high calibre occupiers on long leases. The Company's
investment philosophy is to effectively allocate recycled capital
from mature assets into sectors and locations with strong occupier
fundamentals and individual assets with realisable upside.
Currently the secure income stream is supported by a diversified
portfolio and tenant base, with a WAULT of 7.8 years complemented
by an average debt maturity of 6.9 years of which over 95% of
interest costs are either fixed or capped. The Company is focused
on all aspects impacting shareholder distributions and boasts one
of the lowest cost ratios in the industry whilst continuously
driving a lower cost of debt.
Redefine International holds a primary listing on the London
Stock Exchange and a secondary listing on the Johannesburg Stock
Exchange and is included within the FTSE 250, EPRA and GPR
indices.
The Company will be hosting a Capital Markets Day on Monday, 6
February 2017. The presentation and a live webcast will be
available on the Company's website at 10:30am (UK time), 12:30pm
(SA time) on Monday, 6 February 2017:
www.redefineinternational.com.
For more information on Redefine International, please refer to
the Company's website www.redefineinternational.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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