Primary Health Properties PLC
Director's & PDMR Dealings - LTIP Vesting
Primary Health Properties PLC (the "Company" or "PHP"), one of the UK's leading investors in modern primary healthcare facilities, announces that Richard Howell, Chief Financial Officer, together with certain other persons discharging managerial responsibility ("PDMRs") and employees have received Ordinary Shares of 12.5 pence each in the Company ("Ordinary Shares") under the terms of the Company's Long-Term Incentive Plan ("LTIP") (the "Vesting").
The awards vested on 6 March 2024 for nil consideration pursuant to a conditional award made on 12 May 2021. For Mr Bateman and Mr Austin, the number of Ordinary Shares which vested is stated after the deduction of the relevant taxation and National Insurance charges. No such deduction applies for Mr Howell, by whom relevant taxation and National Insurance charges will be paid separately.
| Director | Number of shares vesting |
| Richard Howell | 25,081 |
| PDMR | |
| David Bateman | 7,144 |
| David Austin | 3,072 |
All Ordinary Shares in connection with the Vesting will be transferred to the relevant individuals from the Company's employee benefit trust ("EBT"), save for those to which Mr Howell is entitled, which will be retained in the EBT for a further two years under deferred payment arrangements relating to him.
Details of the operation of the LTIP are set out in the Company's 2022 Report and Accounts.
Details of the transactions referenced above are included below in accordance with Article 19 of the retained EU law version of the Market Abuse Regulation (Regulation 596/2014).
| 1 | Details of the person discharging managerial responsibilities/persons closely associated | ||
| (a) | Name | Richard Howell
| |
| 2 | Reason for notification | ||
| (a) | Position/Status | Chief Financial Officer | |
| (b) | Initial notification/amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| (a) | Name | Primary Health Properties PLC | |
| (b) | LEI | 213800Y5CJHXOATK7X11
| |
| 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 and identification code | Ordinary shares of 12.5p ISIN: GB00BYRJ5J14 | |
| (b) | Nature of transaction | Vesting of conditional share awards under the Company's LTIP | |
| (c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost | 25,081 | ||
| (d) | Aggregated Information | Single transaction: N/A | |
| (e) | Date of transaction | 6 March 2024
| |
| (f) | Place of transaction | London Stock Exchange (XLON)
| |
| 1 | Details of the person discharging managerial responsibilities/persons closely associated | ||
| (a) | Name | David Bateman
| |
| 2 | Reason for notification | ||
| (a) | Position/Status | PDMR | |
| (b) | Initial notification/amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| (a) | Name
| Primary Health Properties PLC | |
| (b) | LEI | 213800Y5CJHXOATK7X11
| |
| 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 and identification code | Ordinary shares of 12.5p ISIN: GB00BYRJ5J14 | |
| (b) | Nature of transaction | Vesting of conditional share awards under the Company's LTIP and transfer of Ordinary Shares to the PDMR | |
| (c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost | 7,144
| ||
| (d) | Aggregated Information | Single transaction: N/A | |
| (e) | Date of transaction | 6 March 2024
| |
| (f) | Place of transaction | London Stock Exchange (XLON)
| |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) | Name | David Austin
| |
| 2 | Reason for notification | ||
| (a) | Position/Status | PDMR | |
| (b) | Initial notification/amendment | Initial notification
| |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||
| (a) | Name | Primary Health Properties PLC | |
| (b) | LEI | 213800Y5CJHXOATK7X11
| |
| 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 and identification code | Ordinary shares of 12.5p ISIN: GB00BYRJ5J14 | |
| (b) | Nature of transaction | Vesting of conditional share awards under the Company's LTIP and transfer of Ordinary Shares to the PDMR | |
| (c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| Nil cost | 3,072
| ||
| (d) | Aggregated Information | Single transaction: N/A | |
| (e) | Date of transaction | 6 March 2024
| |
| (f) | Place of transaction | London Stock Exchange (XLON)
| |
More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk
Further details for enquiries:
| Harry Hyman Chief Executive Officer Tel: +44 (0) 7973 344768 | Steven Owen Chairman Tel: +44 (0) 203 8241 841 |
| Richard Howell Chief Financial Officer Tel: +44 (0) 7766 072272 | |
| David Rydell / Stephanie Whitmore (Buchanan Communications) Tel: +44 (0) 20 7466 5066 | |
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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