Safestore Holdings PLC

Director's Dealing • Mar 20, 2020

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RNS Number : 0234H

Safestore Holdings plc

20 March 2020

20 March 2020

Safestore Holding plc (the "Company")

Grant of Awards under the Safestore 2020 Long Term Incentive Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that awards have been granted under the Company's 2020 Long Term Incentive Plan ("2020 LTIP") approved by shareholders at its annual general meeting held on 18 March 2020.

The Company has been notified of the following transactions in the Company's Ordinary shares of 1p each undertaken by directors / persons discharging managerial responsibility ('PDMRs') on 18 March 2020 in accordance with the rules of the Safestore 2020 Long Term Incentive Plan.

Name	Status	Number of Ordinary Shares under LTIP Award	Option Price
Frederic Vecchioli	Chief Executive Officer	123,489	£Nil
Andy Jones	Chief Financial Officer	87,986	£Nil

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 674pence per share, being the closing share price on the dealing day immediately before the date of grant.

The normal vesting date of the LTIP Awards will be 18 March 2023, being the third anniversary of the award date. Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date.  The LTIP Awards are subject to a two-year holding period commencing on vesting.

The LTIP Awards will normally vest after 3 years based on the satisfaction of the following performance conditions which are each measured over a 3 year period:

i.    Two-thirds based on adjusted diluted EPRA EPS growth: 5% p.a. growth (threshold); 8% p.a. growth (maximum).

ii.    One-sixth based on relative TSR against the FTSE 250 excluding Investment Trusts: Median performance (threshold); upper quartile performance (maximum); and

iii.   One-sixth based on relative TSR against the FTSE 350 Real Estate Super Sector: Median performance (threshold); upper quartile performance (maximum).

25% of the relevant element of the LTIP Award will vest for threshold performance, with straight line vesting in between to full vesting for the achievement of maximum performance.

In addition, no award will vest unless a minimum level of Cash on Cash Return ("CoCR") of 8% p.a. has been met.

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons close associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frederic Vecchioli
2	Reason for the notification
a)	Position/status	PDMR, Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Safestore Holdings plc
b)	LEI	213800WGA3YSJC1YOH73
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	Ordinary shares of 1p each
Identification code	GB00B1N7Z094
b)	Nature of the transaction	Grant of nil cost option under the Safestore 2020 Long Term Incentive Plan
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nil	123,489
d)	Aggregated information
- Aggregated volume	123,489
- Price	Nil
e)	Date of the transaction	18 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andy Jones
2	Reason for the notification
a)	Position/status	PDMR, Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Safestore Holdings plc
b)	LEI	213800WGA3YSJC1YOH73
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	Ordinary shares of 1p each
Identification code	GB00B1N7Z094
b)	Nature of the transaction	Grant of nil cost option under the Safestore 2020 Long Term Incentive Plan
c)	Price(s) and volume(s)
		Price(s)	Volume(s)
		Nil	87,986
d)	Aggregated information
- Aggregated volume	87,986
- Price	Nil
e)	Date of the transaction	18 March 2020
f)	Place of the transaction	Outside a trading venue

Enquiries:

Instinctif Partners:  020 7457 2020

Guy Scarborough

Catherine Wickman

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