Empiric Student Property PLC LTIP Option Awards / PDMR Notification (6906Y)
23 August 2018 - 8:19PM
UK Regulatory
TIDMESP
RNS Number : 6906Y
Empiric Student Property PLC
23 August 2018
23 August 2018
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
LTIP Option Awards / PDMR Notification
The Board of Empiric Student Property plc (ticker: ESP), the
owner and operator of premium student accommodation across the UK,
announces that on 23 August 2018, the Company granted Lynne Fennah,
an Executive Director of the Company nil-cost options over a total
of 69,046 ordinary shares in the Company ("Ordinary Shares")
pursuant to the Empiric Long Term Incentive Plan (the "LTIP"). The
allocation represents a supplementary award of nil-cost options
following the Empiric Board appointing Lynne to the joint roles of
Chief Financial Officer and Chief Operating Officer effective 1
July 2018.
The price used to calculate the number of Ordinary Shares under
the LTIP was 92.33 pence, representing the average of the daily
closing prices of the Ordinary Shares on the London Stock Exchange
for the 12-month period ended 31 July 2018.
The amount granted under the LTIP represents the maximum number
of Ordinary Shares that may be granted to Lynne Fennah under the
LTIP.
The LTIP is subject to a performance condition whereby 25% of
the award vests for achieving a Total Return ("TR") of 8% per annum
increasing to 100% vesting for achieving 12% per annum TR, with the
Company's TR performance measured over a three-year period ending
30 June 2021 from a base Net Asset Value ("NAV") of GBP1.0554 as at
30 June 2018. TR is calculated by the change in NAV plus
dividends.
The total number of Ordinary Shares over which nil-cost options
were granted on 23 August 2018 represents approximately 0.01 per
cent. of the Company's issued share capital.
The LTIP transaction took place in the United Kingdom, with a
grant date of 23 August 2018 and the Directors being notified on 23
August 2018.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc (via Newgate below)
Tim Attlee (Acting Chief Executive
Officer & Chief Investment Officer)
Jefferies International Limited Tel: 020 7029 8000
Gary Gould
Stuart Klein
Newgate (PR Adviser) Tel: 020 7680 6550
James Benjamin Em: empiric@newgatecomms.com
Anna Geffert
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's
website at www.empiric.co.uk.
Notes:
Empiric Student Property plc is a leading provider and operator
of modern, direct-let, nominated or leased student accommodation
across the UK. Investing in both operating and development assets,
Empiric is a multi-niche student property company focused on, (i)
providing good quality first year accommodation managed through its
Hello Student(R) operating platform in partnership with
universities, (ii) offering a variety of second and third year
purpose built accommodation options for individual students and
those wanting a group living environment, and (iii) continuing to
expand the Group's existing premium, studio-led accommodation
portfolio which is attractive to international and postgraduate
students.
The Company, an internally managed real estate investment trust
("REIT") incorporated in England and Wales, listed on the premium
listing segment of the Official List of the Financial Conduct
Authority and was admitted to trading on the main market for listed
securities of the London Stock Exchange in June 2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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