11 October 2022
Circle Property Plc
("Circle" or the "Company")
Exercise of LTIP Awards and Issue of Equity
Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, announces that on 11 October 2022, John Arnold, Chief Executive Officer and Edward Olins, Chief Operating Officer, exercised their rights to acquire, for nil consideration, 466,649 and 419,984 ordinary shares of no par value ("Ordinary Shares") respectively, under previously vested awards granted under the Circle Property plc 2016 Long Term Incentive Plan ("LTIP"). Details of the LTIP awards (as amended) were included in the announcement dated 14 February 2022.
The issue of 886,633 Ordinary Shares will be satisfied by 255,034 Ordinary Shares currently held in treasury and the issue of 631,599 new Ordinary Shares. Application has been made for 631,599 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 17 October 2022 and the Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.
On Admission, the Company will have a total of 29,183,395 Ordinary Shares in issue with no Ordinary Shares held in treasury. The figure of 29,183,395 may be used by the Company's shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules.
Following Admission, Mr Arnold will beneficially hold 1,503,047 Ordinary Shares and Mr Olins will beneficially hold 552,641 Ordinary Shares representing 5.15 per cent. and 1.89 per cent. of the Company's issued share capital, respectively.
| Circle Property Plc | +44 (0)207 930 8503 |
| John Arnold, CEO Edward Olins, COO | |
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| Cenkos Securities | +44 (0)207 397 8900 |
| Katy Birkin Mark Connelly |
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| Radnor Capital | +44 (0)203 897 1830 |
| Joshua Cryer Iain Daly | |
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| Camarco | +44 (0)203 757 4992 |
| Ginny Pulbrook Toby Strong | |
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 | Exercise of rights under LTIP awards pursuant to the Circle Property plc 2016 Long Term Incentive Plan | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Nil | 466,649 | ||
| d) | Aggregated information | N/A single transaction | |
| | Aggregated volume | N/A single transaction | |
| | Price | N/A single transaction | |
| e) | Date of the transaction | 11 October 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 | Exercise of rights under LTIP awards pursuant to the Circle Property plc 2016 Long Term Incentive Plan | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| Nil | 419,984 | ||
| d) | Aggregated information | N/A single transaction | |
| | Aggregated volume | N/A single transaction | |
| | Price | N/A single transaction | |
| e) | Date of the transaction | 11 October 2022 | |
| f) | Place of the transaction | XOFF | |
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