Picton Property Income Ltd - Grant of Share Awards
PR Newswire
London, June 25
25 June 2019
PICTON PROPERTY INCOME LIMITED
("Picton", the "Company" or the "Group")
LEI: 213800RYE59K9CKR4497
GRANT OF SHARE AWARDS
Picton (LSE:PCTN) announces that the following share awards have been granted to Persons Discharging Managerial Responsibility ("PDMRs").
Each of the following PDMRs have, on 19 June 2019, been granted share awards over ordinary shares in Picton Property Income Limited, being contingent awards in the form of nil-cost options under the terms of the Picton Property Income Limited 2016 Long Term Incentive Plan ("LTIP") and deferred awards under the terms of the Picton Property Income Limited 2018 Deferred Bonus Plan ("DBP"), as set out below:
| PDMR | LTIP share award | DBP share award |
| Michael Morris | 328,153 | 175,137 |
| Andrew Dewhirst | 214,218 | 116,758 |
| Jay Cable | 150,163 | - |
The nil-cost options awarded under the LTIP will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2022. The actual number of shares that will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 April 2019 to 31 March 2022. No consideration was paid for any of the awards and no consideration is due on vesting.
The deferred share awards under the DBP will vest, subject to continued employment, on 19 June 2021. No consideration was paid for the awards and no consideration is due on vesting.
This notification is made in accordance with the Market Abuse Regulation.
For further information:
Tavistock
Jeremy Carey/James Verstringhe, 020 7920 3150, james.verstringhe@tavistock.co.uk
Picton Property Income Limited
Michael Morris, 020 7011 9980, michael.morris@picton.co.uk
Note to Editors
Picton is a UK REIT, established in 2005. It owns and actively manages a £685 million diversified UK commercial property portfolio, invested across 49 assets and with around 350 occupiers (as at 31 March 2019). Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.
For more information please visit: www.picton.co.uk
ENDS
