Circle Property PLC Vesting of LTIP Awards (7565Y)
May 17 2021 - 1:00AM
UK Regulatory
TIDMCRC
RNS Number : 7565Y
Circle Property PLC
17 May 2021
17 May 2021
Circle Property Plc
("Circle" or the "Company")
Vesting of LTIP Awards
Circle Property Plc (AIM: CRC), which invests in, develops and
actively manages well-located regional office assets, announces
that share awards made on 20 August 2019 to the executive directors
of the Company under the Circle Property Plc 2016 Long Term
Incentive Plan ("LTIP") in relation to the Performance Period (as
such term is defined in the LTIP) commencing on 1 April 2018,
vested on 14 May 2021 at 100% (based on performance conditions) in
the following amounts: John Arnold (Chief Executive) 141,023
ordinary shares; and Edward Olins (Chief Operating Officer) 126,921
ordinary shares. The directors now have the right to be issued with
the ordinary shares awarded (for nil 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, provide further
detail.
+44 (0)207 930
Circle Property Plc 8503
John Arnold, CEO
Edward Olins, COO
+44 (0)207 397
Cenkos Securities 8900
Katy Birkin
Mark Connelly
+44 (0)203 897
Radnor Capital 1830
Joshua Cryer
Iain Daly
+44 (0)203 757
Camarco 4992
Ginny Pulbrook
Oliver Head
About Circle Property Plc
Circle is the top performing quoted UK real estate company by
NAV total return (NAV growth and dividend) over the last 3
years.
Circle focusses on acquiring assets in regional cities, many of
which have significant office supply constraints, and on office
assets with active management potential (refurbishment
opportunities, under-rented or vacant properties or short leases),
rather than just maximising initial rental yields.
Circle is not a Real Estate Investment Trust (REIT) and can
actively recycle proceeds from asset sales into its refurbishment
and redevelopment pipeline, as well as future investment
opportunities, therefore targeting a broader range of returns for
shareholders, which are primarily driven by NAV growth.
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 Ordinary Shares of no par value
instrument, type of instrument
---------------------------------------- -----------------------------------
Identification code JE00BYP0CK63
---------------------------------------- -----------------------------------
b) Nature of the transaction Vesting of options to acquire
Ordinary Shares
---------------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ----------------- ----------------
Nil 141,023
--------------------------------------------------------------- ----------------
d) Aggregated information N/A single transaction
---------------------------------------- -----------------------------------
Aggregated volume N/A single transaction
---------------------------------------- ----------------------------------------
Price N/A single transaction
---------------------------------------- ----------------------------------------
e) Date of the transaction 14 May 2021
---------------------------------------- -----------------------------------
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 Ordinary Shares of no par value
instrument, type of instrument
---------------------------------------- -----------------------------------
Identification code JE00BYP0CK63
---------------------------------------- -----------------------------------
b) Nature of the transaction Vesting of options to acquire
Ordinary Shares
---------------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------- ----------------- ----------------
Nil 126,921
--------------------------------------------------------------- ----------------
d) Aggregated information N/A single transaction
---------------------------------------- -----------------------------------
Aggregated volume N/A single transaction
---------------------------------------- ----------------------------------------
Price N/A single transaction
---------------------------------------- ----------------------------------------
e) Date of the transaction 14 May 2021
---------------------------------------- -----------------------------------
f) Place of the transaction XOFF
---------------------------------------- -----------------------------------
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END
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