9 March 2022
Circle Property Plc
("Circle" or the "Company")
Result of General Meeting and Vesting/Lapsing of LTIP Awards
Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, is pleased to announce that both resolutions put to shareholders at the Company's General Meeting held today were duly passed.
The total votes were cast as follows:
| Resolution | For | % | Against | % |
| 1 | 16,086,286 | 99.9 | 1,040 | 0.01 |
| 2 | 16,086,326 | 99.9 | 1,000 | 0.01 |
The disposal of Kents Hill Park Conference Centre, as detailed in the circular sent to shareholders on 14 February 2022 (the "Circular"), is expected to complete on 25 March 2022.
In addition, as detailed in the Circular and the announcement dated 14 February 2022, under the revised remuneration arrangements for the executive directors, the Board has determined that previously unvested LTIP awards granted in 2019 and 2020 vested to a limited extent on 8 March 2022.
The 2019 LTIP awards vested at 43.75% (based on performance conditions) in the following amounts: John Arnold (Chief Executive) 68,621 ordinary shares; and Edward Olins (Chief Operating Officer) 61,453 ordinary shares. The 2020 LTIP awards vested at 25.00% (based on performance conditions) in the following amounts: John Arnold - 19,509 ordinary shares; and Edward Olins - 17,558 ordinary shares.
The executive directors now have the right to be issued with the ordinary shares awarded (for nil consideration) although such issues have not yet occurred and remain subject to the exercise by the directors of their right.
The unvested LTIP awards granted in 2021 to the executive directors have lapsed in full and no further awards shall be granted under the LTIP in 2022 or going forwards.
The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.
Enquiries:
| Circle Property Plc | +44 (0)20 7930 8503 |
| John Arnold, CEO Edward Olins, COO |
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| Cenkos Securities plc | +44 (0)20 7397 8900 |
| Katy Birkin Mark Connelly
Radnor Capital Joshua Cryer Iain Daly
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+44 (0)20 3897 1830 |
| Camarco | +44 (0)20 3757 4980 |
| Ginny Pulbrook Toby Strong |
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NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | John Arnold | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Circle Property plc | |
| b) | LEI | 213800THDWL3FB11M760 | |
| 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 financial instrument, type of instrument | Ordinary Shares of no par value | |
|
| Identification code | JE00BYP0CK63 | |
| b) | Nature of the transaction | Vesting of options to acquire Ordinary Shares under awards granted in 2019 | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Nil | 68,621 | ||
| d) | Aggregated information | N/A single transaction | |
|
| Aggregated volume | N/A single transaction | |
|
| Price | N/A single transaction | |
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Edward Olins | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Operating Officer | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Circle Property plc | |
| b) | LEI | 213800THDWL3FB11M760 | |
| 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 financial instrument, type of instrument | Ordinary Shares of no par value | |
|
| Identification code | JE00BYP0CK63 | |
| b) | Nature of the transaction | Vesting of options to acquire Ordinary Shares under awards granted in 2019 | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Nil | 61,453 | ||
| d) | Aggregated information | N/A single transaction | |
|
| Aggregated volume | N/A single transaction | |
|
| Price | N/A single transaction | |
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | John Arnold | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Executive Officer | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Circle Property plc | |
| b) | LEI | 213800THDWL3FB11M760 | |
| 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 financial instrument, type of instrument | Ordinary Shares of no par value | |
|
| Identification code | JE00BYP0CK63 | |
| b) | Nature of the transaction | Vesting of options to acquire Ordinary Shares under awards granted in 2020 | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Nil | 19,509 | ||
| d) | Aggregated information | N/A single transaction | |
|
| Aggregated volume | N/A single transaction | |
|
| Price | N/A single transaction | |
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Edward Olins | |
| 2 | Reason for the notification | ||
| a) | Position/status | Chief Operating Officer | |
| b) | Initial notification/Amendment | Initial Notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Circle Property plc | |
| b) | LEI | 213800THDWL3FB11M760 | |
| 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 financial instrument, type of instrument | Ordinary Shares of no par value | |
|
| Identification code | JE00BYP0CK63 | |
| b) | Nature of the transaction | Vesting of options to acquire Ordinary Shares under awards granted in 2020 | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Nil | 17,558 | ||
| d) | Aggregated information | N/A single transaction | |
|
| Aggregated volume | N/A single transaction | |
|
| Price | N/A single transaction | |
| e) | Date of the transaction | 8 March 2022 | |
| f) | Place of the transaction | XOFF | |
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