Unite Group PLC (The) Director/PDMR Shareholding (1892V)
April 12 2021 - 9:20AM
UK Regulatory
TIDMUTG
RNS Number : 1892V
Unite Group PLC (The)
12 April 2021
THE UNITE GROUP PLC (THE "COMPANY")
12 April 2021
GRANT OF OPTIONS AND DIRECTORS' INTERESTS
Pursuant to the long term incentive plan of the Company, awards
have been granted to the Company's Executive Directors, namely Mr
Richard Smith (Chief Executive Officer) and Mr Joe Lister (Chief
Financial Officer) on 12 April 2021 as follows:
Director Nil cost options HMRC approved options
Richard Smith 87,070 479
----------------- ----------------------
Joe Lister 70,850 479
----------------- ----------------------
The HMRC approved options were awarded at an option price of
1083.5p per share, being the closing middle market price of the
shares on the day prior to the date on which the options were
granted.
In accordance with the Plan Rules and Remuneration Policy, and
consistent with the approach taken in 2020 due to the ongoing
impact of the Covid-19, the Committee will retain overarching
discretion to approve the vesting of these awards and will
carefully scrutinise overall outcomes to ensure that they reflect
the performance of the Company and the experience of stakeholders
over the period, and do not reward windfall gains.
The number of shares in respect of which Messrs Smith and Lister
may exercise these options will be determined following the three
year measurement period ending 31 December 2023, by reference to
the EPRA adjusted earnings per share, total accounting return and
total shareholder return performance of the Company over this
period. Due to continued Covid-19 uncertainty and the implications
this has for being able to set credible and appropriately
stretching targets, the Committee has taken the decision to delay
target setting for the EPRA adjusted earnings per share element of
the award. The Committee expects to be in a position to set and
disclose targets for this one-third of the award within six months
of grant and will announce further details at this later date.
Total accounting return and total shareholder return targets are
based on the Company's relative performance, with threshold and
maximum vesting requiring performance in line with the median and
upper quartile ranked constituent of the FTSE350 Real Estate
Supersector Index respectively, in line with market best
practice.
A two year holding period applies to these options, such that
options vesting may only be exercised from 12 April 2026, the fifth
anniversary of the date of grant.
This notification is made in accordance with the requirements of
the Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Smith
----------------------------- ---------------------------------
2 Reason for the notification
----------------------------------------------------------------
a) Position/status Chief Executive Officer
----------------------------- ---------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------- ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name The Unite Group plc
----------------------------- ---------------------------------
b) LEI 213800BBUUWVDH9YI827
----------------------------- ---------------------------------
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, Ordinary shares of 25p each
type of instrument
GB0006928617
Identification code
----------------------------- ---------------------------------
b) Nature of the transaction Grant of LTIP options
----------------------------- ---------------------------------
Price(s) Volume(s)
c) Price(s) and volume(s) GBP10.835 87,070
----------
GBP10.835 479
----------
----------------------------- ---------------------------------
d) Aggregated information
- Aggregated volume 87,549
- Price GBP10.835
----------------------------- ---------------------------------
e) Date of the transaction 12 April 2021
----------------------------- ---------------------------------
f) Place of the transaction London Stock Exchange
----------------------------- ---------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Joe Lister
----------------------------- ---------------------------------
2 Reason for the notification
----------------------------------------------------------------
a) Position/status Chief Financial Officer
----------------------------- ---------------------------------
b) Initial notification Initial notification
/Amendment
----------------------------- ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name The Unite Group plc
----------------------------- ---------------------------------
b) LEI 213800BBUUWVDH9YI827
----------------------------- ---------------------------------
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, Ordinary shares of 25p each
type of instrument
GB0006928617
Identification code
----------------------------- ---------------------------------
b) Nature of the transaction Grant of LTIP options
----------------------------- ---------------------------------
Price(s) Volume(s)
c) Price(s) and volume(s) GBP10.835 70,850
----------
GBP10.835 479
----------
----------------------------- ---------------------------------
d) Aggregated information
- Aggregated volume 71,329
- Price GBP10.835
----------------------------- ---------------------------------
e) Date of the transaction 12 April 2021
----------------------------- ---------------------------------
f) Place of the transaction London Stock Exchange
----------------------------- ---------------------------------
For further information, please contact:
Unite Students
Christopher Szpojnarowicz, Company Secretary Tel: +44 117 302 7120
END
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