Segro PLC — Board/Management Information 2016

Nov 16, 2016

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RNS Number : 2663P

SEGRO PLC

16 November 2016

16 November 2016

SOUMEN DAS TO JOIN SEGRO AS CFO ON 16 JANUARY 2017

Further to the announcement on 26 July 2016, SEGRO plc ('SEGRO', or 'the Company') is pleased to confirm that Soumen Das will join the Company as its Chief Financial Officer with effect from 16 January 2017. Mr Das will succeed Justin Read who is retiring on 31 December 2016.

Details of Mr Das's remuneration will be included in the Directors' Remuneration Report within the 2016 Annual Report and Accounts.

The remuneration details relating to Mr Read required to be made available under section 430(2B) of the Companies Act 2006 are as follows:

·   Mr Read's remuneration terms will be in accordance with the key provisions for contract termination as set out in SEGRO's Remuneration Policy approved by shareholders in April 2014. As he will be retiring, he will be treated as a good leaver under the Company's incentive schemes.

·    Mr Read will be paid full salary and benefits (which include cash allowances in lieu of a company car, company pension and private medical healthcare) to 31 December 2016. He will also receive a payment in respect of any unused leave.

·   Mr Read will be eligible to receive a cash bonus for 2016 to the extent that the performance targets are met. 50 per cent of any cash payment earned in 2016 will be deferred in shares under the Deferred Share Bonus Plan (DSBP).

·     Mr Read will be entitled to time pro-rated shares from the Long Term Incentive Plan, subject to the Company meeting the performance targets for these awards and subject to and in accordance with the rules of the Plan.

Award	Award Date	Number Awarded	Vesting Date
2013 LTIP Award	06/08/2013	218,228	06/08/2017
2014 LTIP Award	09/04/2014	212,076	09/04/2018
2015 LTIP Award	22/05/2015	175,526	22/05/2019
2016 LTIP Award	07/04/2016	181,565	07/04/2020

·    Mr Read will be entitled to receive shares which have been held under the DSBP. As set out below, these shares will be released on the vesting date, together with a cash sum equivalent to the value of dividends that would have been paid on the shares during the three years under which they were under award.

Award	Award date	Number Awarded	Vesting Date
2013 DSBP Award	30/06/2014	41,226	07/04/2017
2014 DSBP Award	30/06/2015	36,352	28/04/2018
2015 DSBP Award	26/05/2016	53,032	28/04/2019

Mr Read will be eligible to retain shares awarded under the Share Incentive Plan and to purchase shares in accordance with the rules of the Sharesave option scheme.

Full disclosure of these remuneration arrangements will be provided in the Directors' Remuneration Report in the 2016 Annual Report and Accounts.

ENDS

For further information, please contact:

SEGRO plc

David Sleath (Chief Executive)

Tel +44 (0) 20 7451 9112 / david.sleath@segro.com

Harry Stokes (Head of Investor Relations and Research)

Tel: +44 (0) 20 7451 9124 / harry.stokes@segro.com

Sarah Lockhart (External Communications Manager)

Tel: Tel: +44 (0) 20 7451 9118 / sarah.lockhart@segro.com

Richard Sunderland / Claire Turvey (FTI Consulting)

Tel: +44 (0) 20 3727 1000

Notes to Editors:

SEGRO plc

ABOUT SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages over six million square metres of space valued at £7.4 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in nine other European countries.

For further information see www.SEGRO.com/investors.

This information is provided by RNS

The company news service from the London Stock Exchange

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