Real Estate Investors PLC Replacement: Q1 2023 Dividend and LTIP Awards (4188E)
June 29 2023 - 7:18AM
UK Regulatory
TIDMRLE
RNS Number : 4188E
Real Estate Investors PLC
29 June 2023
The following replaces the announcement released on 29 June 2023
at 07:00 under RNS number 2999E (the "Prior Announcement").
The Prior Announcement incorrectly stated that the record date
for the declared Q1 2023 dividend would be 1 July 2023. The Prior
Announcement should have stated that the record date for the
declared Q1 2023 dividend is 7 July 2023.
All other details remain unchanged and the full amended text is
shown below.
Real Estate Investors Plc
("REI" or the "Company")
Q1 2023 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 1.37 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 2023
dividend of 0.625 pence per share for the period 1 April 2023 to 30
June 2023 (Q1 2022: 0.8125 pence per share). The payment will be
made on 28 July 2023 to all shareholders on the register as at 7
July 2023. The ex-dividend date will be 6 July 2023. This dividend
will be an Ordinary Distribution.
The Company also announces that on 28 June 2023 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 2,306,452 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 Expected Vesting Date
Shares under Award
Paul Bassi 1,419,355 April 2025
Marcus Daly 887,097 April 2025
In addition, share awards made on 27 March 2020 to directors of
the Company vested yesterday at 50% (based on performance
conditions) in the following amounts: Paul Bassi (Chief Executive)
628,571 ordinary shares; and Marcus Daly (Finance Director) 392,857
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
About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted, internally
managed property investment company and REIT with a portfolio of
1.37 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 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 1. Paul Bassi
2. Marcus Daly
---------------------------------- ----------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status 1. Chief Executive
2. Finance 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 Ordinary shares of 10p each
instrument, type of instrument
---------------------------------- ----------------------------------
Identification code GB00B45XLP34
---------------------------------- ----------------------------------
b) Nature of the transaction Award of share options Real
Estate Investors Plc Senior
Executives Long Term Incentive
Plan
---------------------------------- ----------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------- -------------- ------------------
1. Nil 1. 1,419,355
2. Nil 2. 887,097
---------------------------------- -------------- ------------------
d) Aggregated information
----------------------------------------------------------------------
Aggregated volume N/A
---------------------------------- ----------------------------------
Price N/A
---------------------------------- ----------------------------------
e) Date of the transaction 28 June 2023
---------------------------------- ----------------------------------
f) Place of the transaction Outside of a trading venue
---------------------------------- ----------------------------------
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