Duke Royalty Limited Long Term Incentive Plan Awards (7530G)
March 06 2018 - 2:00AM
UK Regulatory
TIDMDUKE
RNS Number : 7530G
Duke Royalty Limited
06 March 2018
6 March 2018
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Long Term Incentive Plan ("LTIP") awards
Duke Royalty Limited (AIM: DUKE) announces that the Company's
Remuneration Committee has approved the following Performance Share
Awards ("PSA's") under the Company's Long Term Incentive Plan
("LTIP"). The LTIP framework was detailed within the Company's
admission document which was published on 20 March 2017 as was to
be put into place post Admission. The Board has determined the
issuance of the shares pursuant to part 5 of the admission document
can now be issued as the LTIP has been approved and there are no
close period restrictions.
The PSA's for the financial year to 31 March 2017 are as
follows:
Neil Johnson 500,000 ordinary shares
----------------------- ------------------------
Charlie Cannon-Brookes 350,000 ordinary shares
----------------------- ------------------------
Justin Cochrane 175,000 ordinary shares
----------------------- ------------------------
The PSA's vest after a period of three years and are subject to
various performance conditions outlined in the admission document
and set by the Remuneration Committee, all in accordance with the
LTIP rules. The LTIP Awards will be subject to a performance
condition based 50 per cent. on total shareholder return ("TSR")
and 50 per cent. on total cash available for distribution per share
("TCAD per Share"). TSR can be defined as the returns generated by
shareholders based on the combined value of the dividends paid out
by the Company and the share price performance over the period in
question.
Going forward PSA's will typically be announced within weeks
after the Company's financial year results.
About Duke Royalty
Headquartered in Guernsey, Duke Royalty Limited provides
alternative financing solutions to a diversified range of
businesses in Europe and abroad. Duke Royalty's experienced team
and exclusive partnership provide financing solutions to private
companies that are in need of capital but whose owners wish to
maintain equity control of their business. Duke Royalty's royalty
investments are intended to provide robust, stable, long term
returns to its shareholders.
Duke Royalty is listed on the AIM market under the ticker DUKE.
For more information, visit dukeroyalty.com.
For further information:
Duke Royalty Limited Neil Johnson / Charlie Cannon-Brookes
+44 (0) 1481 741 240
Grant Thornton UK LLP Colin Aaronson / Samantha
(Nominated Adviser) Harrison / Carolyn Sansom
+44 (0) 20 7383 5100
Cenkos Securities plc Julian Morse / Michael Johnson
(Joint Broker)
+44 (0) 207 397 8900
Mirabaud Securities Peter Krens / Edward Haig-Thomas
Limited (Joint Broker)
+44 (0) 20 3167 7222
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
1 Details of the person discharging managerial
responsibilities / person closely associated
---- -------------------------------------------------------------------
a) Name Neil Johnson
---- ------------------------------ -----------------------------------
2 Reason for the notification
---- -------------------------------------------------------------------
a) Position/status Chief Executive Officer
---- ------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
---- ------------------------------ -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -------------------------------------------------------------------
a) Name Duke Royalty Limited
---- ------------------------------ -----------------------------------
b) LEI 213800GUTKPSJ39SER44
---- ------------------------------ -----------------------------------
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 Ordinary Shares
the financial
instrument, type
of instrument
GG00BYZSSY63
----
Identification
code
b) Nature of the Purchase of Placing Shares
transaction pursuant to the Fundraising
---- ------------------------------ -----------------------------------
c) Price(s) and volume(s)
---- --------------- ---------------
Price(s) Volume(s)
---- --------------- ---------------
N/A 500,000
--------------------------------------------------- ---------------
d) Aggregated information
----
- Aggregated volume
- Price
e) Date of the transaction 6 March 2018
---- ------------------------------ -----------------------------------
f) Place of the transaction London Stock Exchange
---- ------------------------------ -----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
---- -------------------------------------------------------------------
a) Name Charlie Cannon-Brookes
---- ------------------------------ -----------------------------------
2 Reason for the notification
---- -------------------------------------------------------------------
a) Position/status Executive Director
---- ------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
---- ------------------------------ -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -------------------------------------------------------------------
a) Name Duke Royalty Limited
---- ------------------------------ -----------------------------------
b) LEI 213800GUTKPSJ39SER44
---- ------------------------------ -----------------------------------
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 Ordinary Shares
the financial
instrument, type
of instrument
GG00BYZSSY63
----
Identification
code
b) Nature of the Purchase of Placing Shares
transaction pursuant to the Fundraising
---- ------------------------------ -----------------------------------
c) Price(s) and volume(s)
---- --------------- ---------------
Price(s) Volume(s)
---- --------------- ---------------
N/A 350,000
--------------------------------------------------- ---------------
d) Aggregated information
----
- Aggregated volume
- Price
e) Date of the transaction 6 March 2018
---- ------------------------------ -----------------------------------
f) Place of the transaction London Stock Exchange
---- ------------------------------ -----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
---- -------------------------------------------------------------------
a) Name Justin Cochrane
---- ------------------------------ -----------------------------------
2 Reason for the notification
---- -------------------------------------------------------------------
a) Position/status Executive Director
---- ------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
---- ------------------------------ -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -------------------------------------------------------------------
a) Name Duke Royalty Limited
---- ------------------------------ -----------------------------------
b) LEI 213800GUTKPSJ39SER44
---- ------------------------------ -----------------------------------
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 Ordinary Shares
the financial
instrument, type
of instrument
GG00BYZSSY63
----
Identification
code
b) Nature of the Purchase of Placing Shares
transaction pursuant to the Fundraising
---- ------------------------------ -----------------------------------
c) Price(s) and volume(s)
---- --------------- ---------------
Price(s) Volume(s)
---- --------------- ---------------
N/A 175,000
--------------------------------------------------- ---------------
d) Aggregated information
----
- Aggregated volume
- Price
e) Date of the transaction 6 March 2018
---- ------------------------------ -----------------------------------
f) Place of the transaction London Stock Exchange
---- ------------------------------ -----------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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