Remuneration Information • Apr 25, 2019
Remuneration Information
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RNS Number : 0188X
Empiric Student Property PLC
25 April 2019
25 April 2019
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries, the "Group")
Annual Bonus and LTIP Option Awards / PDMR Notification
The Board of Empiric Student Property plc (ticker: ESP) announces that on 24 April 2019, the Company granted Tim Attlee, Chief Executive Officer, nil-cost options over 43,818 ordinary shares in the Company ("Ordinary Shares") and Lynne Fennah, Chief Financial & Operating Officer, nil-cost options over 57,559 Ordinary Shares relating to the deferred shares element of the annual bonus award for the financial period to 31 December 2018 (the "Annual Bonus Award").
Further, and also on 24 April 2019, Lynne Fennah was granted nil-cost options over 502,757 Ordinary Shares pursuant to the Empiric Long Term Incentive Plan (the "LTIP") for the 2019 financial year.
The price used to calculate the number of Ordinary Shares under the Annual Bonus Award and the LTIP was 92.49 pence, representing the average of the daily closing prices of the Ordinary Shares on the London Stock Exchange for the 12 month period ended 31 March 2019.
The Annual Bonus Award is not subject to any further performance conditions and in normal circumstances will be exercisable on or after the third anniversary of grant.
The amount granted under the LTIP represents the maximum number of Ordinary Shares that may be granted to Lynne Fennah under the LTIP.
The LTIP is subject to a performance condition whereby 25% of the award vests for achieving a total return ("TR") of 8% per annum increasing to 100% vesting for achieving 12% per annum TR, with the Company's TR performance measured over a three-year period ending 31 December 2021. TR is calculated by the change in net asset value per share of the Company plus dividends. The award is also subject to an additional holding period of two years before being released and becoming exercisable.
The total number of Ordinary Shares over which nil-cost options were granted on 24 April 2019 represents approximately 0.10 per cent. of the Company's issued share capital.
The LTIP transaction took place in the United Kingdom, with a grant date of 24 April 2019 and the Directors being notified on 24 April 2019.
The Annual Bonus Award notification is made in accordance with Article 19 of the Market Abuse Regulations and further details required under Article 19(6) are set out in Appendix I below.
For further information on the Company, please contact:
| Empiric Student Property plc | (via Maitland/AMO below) |
| Tim Attlee (Chief Executive Officer) | |
| Lynne Fennah (Chief Financial & Operating Officer) | |
| Jefferies International Limited | Tel: 020 7029 8000 |
| Gary Gould | |
| Stuart Klein | |
| Maitland/AMO (Communications Adviser) | Tel: 020 7379 5151 |
| James Benjamin | Email: [email protected] |
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's website at www.empiric.co.uk.
Notes:
Empiric Student Property plc is a leading provider and operator of modern, direct-let, nominated or leased student accommodation across the UK. Investing in both operating and development assets, Empiric is a multi-niche student property company focused on, (i) providing good quality first year accommodation managed through its Hello Student operating platform in partnership with universities, (ii) offering a variety of second and third year purpose-built accommodation options for
individual students and those wanting a group living environment, and (iii) continuing to expand the Group's existing premium, studio-led accommodation portfolio which is attractive to international and postgraduate students.
The Company, an internally managed real estate investment trust ("REIT") incorporated in England and Wales, listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.
APPENDIX I
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Tim Attlee | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Director | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Empiric Student Property plc | |||
| b) | LEI | 213800FPF38IBPRFPU87 | |||
| 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, type of instrument | Nil-cost options over Ordinary Shares of 1p each | |||
| Identification code | GB00BLWDVR75 | ||||
| b) | Nature of the transaction | Nil-cost option award | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 92.49p | 43,818 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 43,818 | ||||
| - Price | 92.49p | ||||
| e) | Date of the transaction | 24 April 2019 | |||
| f) | Place of the transaction | London |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Lynne Fennah | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Director | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Empiric Student Property plc | |||
| b) | LEI | 213800FPF38IBPRFPU87 | |||
| 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, type of instrument | Nil-cost options over Ordinary Shares of 1p each | |||
| Identification code | GB00BLWDVR75 | ||||
| b) | Nature of the transaction | Nil-cost option award | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 92.49p | 57,559 | ||||
| d) | Aggregated information | ||||
| - Aggregated volume | 57,559 | ||||
| - Price | 92.49p | ||||
| e) | Date of the transaction | 24 April 2019 | |||
| f) | Place of the transaction | London |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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