Picton Prop Inc Ltd Grant of Awards Under Long Term Incentive Plan
February 01 2017 - 9:02AM
UK Regulatory
TIDMPCTN
1 February 2017
PICTON PROPERTY INCOME LIMITED
("Picton", the "Company" or the "Group")
GRANT OF AWARDS UNDER LONG TERM INCENTIVE PLAN
Picton (LSE:PCTN), the property investment company, announces that contingent
share awards have been granted to Persons Discharging Managerial Responsibility
("PDMRs") under the Picton Property Income Limited 2016 Long Term Incentive
Plan ("LTIP"), which was approved by shareholders on 30 November 2016.
Each of the following PDMRs have, on 27 January 2017, been granted contingent
share awards in the form of nil-cost options over the number of ordinary shares
in Picton Property Income Limited, under the terms of the LTIP, as set out
below:
PDMR Number of shares awarded
Michael Morris 358,791
Andrew Dewhirst 211,418
Jay Cable 161,851
Fraser D'Arcy 139,976
In addition each PDMR has been awarded linked tax qualifying options over
37,933 shares at an exercise price of GBP0.79085. On exercise the number of
shares under the nil-cost option will be reduced proportionally to take account
of any gain on the exercise of the tax qualifying option such that the PDMR
will not receive a greater number of shares than is subject to the nil-cost
option.
The options awarded will vest, subject to continued employment and the
satisfaction of performance conditions, following completion of the performance
period which ends on 31 March 2019. 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 2016 to 31 March 2019. No
consideration was paid for any of the awards and no consideration is due on
vesting
This notification is made in accordance with the Market Abuse Regulation.
ENDS
For further information:
Tavistock
Jeremy Carey/James Verstringhe, 020 7920 3150, jverstringhe@tavistock.co.uk
Picton Capital Limited
Michael Morris, 020 7011 9980, michael.morris@picton.co.uk
Note to Editors
Picton is an income focused property investment company listed on the London
Stock Exchange. Picton can invest both directly and indirectly in commercial
property across the United Kingdom.
With Net Assets of GBP434.4 million at 31 December 2016, the Company´s objective
is to provide shareholders with an attractive level of income, together with
the potential for capital growth by investing in the principal commercial
property sectors. www.picton.co.uk
END
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February 01, 2017 10:02 ET (15:02 GMT)