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Picton Property Income Ltd - Grant of Share Awards

Picton Property Income Ltd - Grant of Share Awards

PR Newswire

 21 June 2022

PICTON PROPERTY INCOME LIMITED
(“Picton”, the “Company” or the “Group”)

LEI: 213800RYE59K9CKR4497

GRANT OF SHARE AWARDS

Picton announces that the following awards have been granted to Persons Discharging Managerial Responsibility (“PDMRs”).

Each of the following PDMRs have, on 17 June 2022, been granted awards over ordinary shares in Picton Property Income Limited, being contingent share awards in the form of nil-cost options under the terms of the Picton Property Income Limited 2016 Long Term Incentive Plan (“LTIP”) and deferred awards under the terms of the Picton Property Income Limited 2018 Deferred Bonus Plan (“DBP”), as set out below:

PDMR LTIP share award DBP share award DBP notional share award
Michael Morris 437,473 159,555 -
Andrew Dewhirst 261,784 108,498 -
Jay Cable 195,829 - 102,413

The nil-cost options awarded under the LTIP will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2025. 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 2022 to 31 March 2025. No consideration was paid for any of the awards and no consideration is due on vesting.

The deferred awards under the DBP will vest, subject to continued employment, on 17 June 2024. No consideration was paid for the awards and no consideration is due on vesting.
 

This notification is made in accordance with the Market Abuse Regulation.


 

For further information:

Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited, 01481 745001, team_picton@ntrs.com
 

Note to Editors

Picton, established in 2005, is a UK REIT. It owns and actively manages a £849 million diversified UK commercial property portfolio, invested across 47 assets and with around 400 occupiers (as at 31 March 2022).

Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.

For more information please visit: www.picton.co.uk.
 

ENDS