Real Estate Investors Plc
("REI" or the "Company")
Q1 2022 Dividend Declaration / Grant and Vesting of LTIP Awards
Real Estate Investors Plc (AIM:RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.5 million sq ft of commercial property across all sectors, is pleased to announce that in accordance with its progressive dividend policy, REI will pay a fully covered Q1 2022 dividend of 0.8125 pence per share for the period 1 April 2022 to 30 June 2022 (Q1 2021: 0.75 pence per share). The payment will be made on 22 July 2022 to all shareholders on the register as at 1 July 2022. The ex-dividend date will be 30 June 2022. This dividend will be a Property Income Distribution (PID).
The Company also announces that on 20 June 2022 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2021. The awards under the Plan give rights to certain Directors to acquire a total of 1,810,127 ordinary shares of 10p each in the Company ("Ordinary Shares") as detailed below at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return, with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 12% levels of annual return/growth are achieved.
| Award Holder | Number of Ordinary Shares under Award | Expected Vesting Date |
| Paul Bassi | 1,113,924 | April 2025 |
| Marcus Daly | 696,203 | April 2025 |
In addition, share awards made on 25 March 2019 to directors of the Company vested yesterday at 25.9% (based on performance conditions) in the following amounts: Paul Bassi (Chief Executive) 219,492 ordinary shares; and Marcus Daly (Finance Director) 137,183 ordinary shares. The directors now have the right to be issued with the shares awarded (for nil or nominal consideration) although such issues have not yet occurred and remain subject to the exercise by the directors of their right.
The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
Enquiries:
| Real Estate Investors Plc Paul Bassi/Marcus Daly |
+44 (0)121 212 3446 |
|
Cenkos Securities (Nominated Adviser) Katy Birkin/Ben Jeynes |
+44 (0)20 7397 8900 |
|
Liberum (Broker) Jamie Richards/William King |
+44 (0)20 3100 2000 |
|
Novella Communications Tim Robertson/Safia Colebrook |
+44 (0)20 3151 7008
|
About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors. The Company's strategy is to invest in well located, real estate assets in the established and proven markets across the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings. The portfolio has no material reliance on a single asset or occupier. On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities. The Company aims to deliver capital growth and income enhancement from its assets, supporting its progressive dividend policy. Further information on the Company can be found at www.reiplc.com.
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 | Paul Bassi
| |
| 2 | Reason for the notification
| ||
| a) | Position/status | PDMR (Director)
| |
| b) | Initial notification/Amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| a) | Name | Real Estate Investors Plc
| |
| b) | LEI | 21380015X5JMEGUHPD83
| |
| 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 | Share award, constituting a right to acquire ordinary shares of 10p each
| |
| | Identification code | GB00B45XLP34
| |
| b) | Nature of the transaction | Grant of annual award under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan. The award gives rights to acquire ordinary shares in the Company ("Ordinary Shares") at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date (April 2025) with full vesting if 12% levels of annual return/growth are achieved
| |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s)
|
| nil | 1,113,924
| ||
| d) | Aggregated information
| ||
| | Aggregated volume | N/A - single transaction
| |
| | Price | N/A - single transaction
| |
| e) | Date of the transaction | 20 June 2022
| |
| f) | Place of the transaction | Outside of a trading venue | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||
| a) | Name | Marcus Daly
| |
| 2 | Reason for the notification
| ||
| a) | Position/status | PDMR (Director)
| |
| b) | Initial notification/Amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| a) | Name | Real Estate Investors Plc
| |
| b) | LEI | 21380015X5JMEGUHPD83
| |
| 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 | Share award, constituting a right to acquire ordinary shares of 10p each
| |
| | Identification code | GB00B45XLP34
| |
| b) | Nature of the transaction | Grant of annual award under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan. The award gives rights to acquire ordinary shares in the Company ("Ordinary Shares") at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date (April 2025) with full vesting if 12% levels of annual return/growth are achieved
| |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s)
|
| nil | 696,203
| ||
| d) | Aggregated information
| ||
| | Aggregated volume | N/A - single transaction
| |
| | Price | N/A - single transaction
| |
| e) | Date of the transaction | 20 June 2022
| |
| f) | Place of the transaction | Outside of a trading venue
| |
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||
| a) | Name | Paul Bassi
| |
| 2 | Reason for the notification
| ||
| a) | Position/status | PDMR (Director)
| |
| b) | Initial notification/Amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| a) | Name | Real Estate Investors Plc
| |
| b) | LEI | 21380015X5JMEGUHPD83
| |
| 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 | Share award, constituting a right to acquire ordinary shares of 10p each
| |
| | Identification code | GB00B45XLP34
| |
| b) | Nature of the transaction | Vesting of share award granted under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s)
|
| nil | 219,492
| ||
| d) | Aggregated information
| ||
| | Aggregated volume | N/A - single transaction
| |
| | Price | N/A - single transaction
| |
| e) | Date of the transaction | 19 June 2022
| |
| f) | Place of the transaction | Outside of a trading venue
| |
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||
| a) | Name | Marcus Daly
| |
| 2 | Reason for the notification
| ||
| a) | Position/status | PDMR (Director)
| |
| b) | Initial notification/Amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| a) | Name | Real Estate Investors Plc
| |
| b) | LEI | 21380015X5JMEGUHPD83
| |
| 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 | Share award, constituting a right to acquire ordinary shares of 10p each
| |
| | Identification code | GB00B45XLP34
| |
| b) | Nature of the transaction | Vesting of share award granted under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan
| |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s)
|
| nil | 137,183
| ||
| d) | Aggregated information
| ||
| | Aggregated volume | N/A - single transaction
| |
| | Price | N/A - single transaction
| |
| e) | Date of the transaction | 19 June 2022
| |
| f) | Place of the transaction | Outside of a trading venue
| |
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