Unite Group PLC — Director's Dealing 2020

Apr 23, 2020

National Storage Mechanism | Additional information

RNS Number : 7014K

Unite Group PLC (The)

23 April 2020

THE UNITE GROUP PLC (THE "COMPANY")

23 April 2020

GRANT OF OPTIONS AND DIRECTORS' INTERESTS

As noted in the Company's Coronavirus Update dated 22 April 2020 and having regard to wider remuneration changes in response to Coronavirus, the Company has granted awards under the long term incentive plan to the Executive Directors on 23 April as follows:   

Director	Nil cost options	HMRC approved options
Richard Smith Chief Executive Officer	117,383	746
Joe Lister Chief Financial Officer	95,510	746

In granting these awards, the Remuneration Committee noted that the Company's share price has recently trended lower due to the Coronavirus crisis, but after careful consideration decided to calculate the number of options for this year's grant on a consistent basis with prior years.

The performance conditions applying to the awards will remain unchanged from those announced in the Company's 2019 Annual Report, which were set prior to the impact of coronavirus.  Further, in accordance with the Plan Rules and Remuneration Policy, the Committee will retain full discretion to moderate vesting levels to ensure that the number and value of options vesting in 3 years is appropriate.  In making this assessment, the Committee will take into consideration, among other things, the underlying performance of the Company over the period, the experience of the Company's stakeholders, as well as other factors such as avoiding any windfall gains. 

The HMRC approved options were awarded at an option price of 803.50p per share, being the closing middle market price of the shares on the day prior to the date on which the options were granted.

The number of shares in respect of which Messrs Smith and Lister may exercise these options will be determined following the three year measurement period ending 31 December 2022, by reference to the EPRA adjusted earnings per share, total accounting return and total shareholder return performance of the Company over this period.  A two year holding period applies to these options, such that options vesting may only be exercised from 23 April 2025, the fifth anniversary of the date of grant.

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

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Smith

2

Reason for the notification

a)

Position/status

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

The Unite Group plc

b)

LEI

213800BBUUWVDH9YI827

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

Identification code

Ordinary shares of 25p each

GB0006928617

b)

Nature of the transaction

Grant of LTIP options

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil  cost	117,383
803.50p	746

d)

Aggregated information

- Aggregated volume

- Price

118,129

803.50p

e)

Date of the transaction

23 April 2020

f)

Place of the transaction

London Stock Exchange

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Joe Lister

2

Reason for the notification

a)

Position/status

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

The Unite Group plc

b)

LEI

213800BBUUWVDH9YI827

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

Identification code

Ordinary shares of 25p each

GB0006928617

b)

Nature of the transaction

Grant of LTIP options

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	95,510
803.50p	746

d)

Aggregated information

- Aggregated volume

- Price

96,256

803.50p

e)

Date of the transaction

23 April 2020

f)

Place of the transaction

London Stock Exchange

For further information, please contact:

Unite Students Christopher Szpojnarowicz, Company Secretary	Tel: +44 117 302 7120

END

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 rns@lseg.com or visit www.rns.com.

END

DSHKKNBBQBKDBQB