NEWRIVER REIT PLC

Remuneration Information • Jul 6, 2016

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RNS Number : 4576D

NewRiver Retail Limited

06 July 2016

NewRiver Retail Ltd

("NewRiver" or the "Company")

Grant of Awards

Initial Notification: NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, announces that on 6 July 2016 it granted awards under the NewRiver Retail Limited Performance Share Plan 2009, giving rights to acquire shares for nil consideration over a total of 394,427 ordinary shares of no par value in the Company ("Ordinary Shares") to Executive Directors as detailed below.

Award Holder	Number of Ordinary Shares under Award	Vesting Dates
David Lockhart (CEO)	142,665	6 July 2019
Allan Lockhart (Property Director)	134,273	6 July 2019
Mark Davies (Finance Director)	117,489	6 July 2019

The awards have been made over Ordinary Shares representing 100% of base salary at full vesting, based on the NewRiver share price of £2.9790 pence using an average closing price over the previous five dealing days.  Each award is subject to two performance conditions which will be tested over a three year period. The performance conditions are outlined in further detail below.

50% of each award will be based on the Company's total shareholder return (TSR) compared to that of the FTSE All Share index (the TSR Benchmark) in accordance with the table below.

	TSR Award to Vest	Performance Condition
Below Lower Hurdle	0%	Company's TSR < TSR Benchmark
Lower Hurdle	25%	Company's TSR = TSR Benchmark
Intermediate Hurdle	75%	Company's TSR = 1.25 x TSR Benchmark
Upper Hurdle	100%	Company's TSR = 1.5 x TSR Benchmark

50% of each award will be based on the Company's Total Accounting Return (TAR) compared to those UK REITs that report their NAV on an EPRA basis as at the date of award (the TAR Benchmark), in accordance with the table below. TAR is defined as the annualised return over the performance period based on the change in EPRA NAV per share and the level of dividends paid per share.

	TAR Award to Vest	Performance Condition
Below Lower Hurdle	0%	Company's TAR < TAR Benchmark
Lower Hurdle	25%	Company's TAR = TAR Benchmark
Intermediate Hurdle	75%	Company's TAR = 1.25 x TAR Benchmark
Upper Hurdle	100%	Company's TAR = 1.5 x TAR Benchmark

For both performance conditions, where the Company's performance is between the Lower Hurdle and the Intermediate Hurdle or the Intermediate Hurdle and the Upper Hurdle, the percentage of the award which vests will be calculated on a straight line basis based on the extent to which the performance of the Company is between the relevant hurdle performance conditions.

The performance conditions of the awards will be tested after three years from the date of award at which time the awards will be capable of vesting to the extent the performance conditions have been met.

-Ends-

NewRiver Retail Limited  David Lockhart, Chief Executive Mark Davies, Finance Director	Tel: 020 3328 5800
Bell Pottinger David Rydell / David Bass / James Newman / Eve Kirmatzis	Tel: 020 3772 2500
Liberum Richard Crawley / Jamie Richards	Tel: 020 3100 2000
Peel Hunt LLP Capel Irwin	Tel: 020 7418 8900

About NewRiver

NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector. NewRiver Retail was named Property Company of the Year at the 2016 Property Week Awards.

The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of £1.2 billion principally comprising 33 UK wide shopping centres, further nationwide retail assets and a portfolio of 358 pubs with retail and mixed-use extension opportunities. The portfolio totals over 7 million sq. ft. with over 1,840 occupiers, an annual footfall of 150 million and a retail occupancy rate of 97 per cent.

The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.

Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk  

This information is provided by RNS

The company news service from the London Stock Exchange

END

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