Empiric Student Property PLC Annual Bonus 2019 & LTIP Option Award/PDMR (2761J)
April 08 2020 - 1:05PM
UK Regulatory
TIDMESP
RNS Number : 2761J
Empiric Student Property PLC
08 April 2020
8 April 2020
Empiric Student Property plc
("Empiric" or the "Company" or, together with its subsidiaries,
the "Group")
Annual Bonus for FY 2019 and LTIP Option Awards for FY 2020 /
PDMR Notification
The Board of Empiric Student Property plc (ticker: ESP), the
owner and operator of student accommodation across the UK,
announces that on 8 April 2020, the Company granted Tim Attlee,
Chief Executive Officer, nil-cost options over 80,116 ordinary
shares in the Company ("Ordinary Shares") and Lynne Fennah, Chief
Financial & Operating Officer, nil-cost options over 72,396
Ordinary Shares relating to the deferred shares element of the
annual bonus award for the financial period to 31 December 2019
(the "Annual Bonus Award 2019").
Further, and also on 8 April 2020, Lynne Fennah was granted
nil-cost options over 511,982 Ordinary Shares pursuant to the
Empiric Long Term Incentive Plan (the "LTIP") for the 2020
financial year.
The price used to calculate the number of Ordinary Shares under
the Annual Bonus Award 2019 and the LTIP was 92.64 pence,
representing the average of the daily closing prices of the
Ordinary Shares on the London Stock Exchange for the 12 month
period ended 31 March 2020.
The Annual Bonus Award 2019 is not subject to any further
performance conditions and in normal circumstances will be
exercisable on or after the third anniversary of grant.
The amount granted under the LTIP represents the maximum number
of Ordinary Shares that may be granted to Lynne Fennah under the
LTIP.
The LTIP is subject to a performance condition whereby 25% of
the award vests for achieving a total return ("TR") of 8% per annum
increasing to 100% vesting for achieving 12% per annum TR, with the
Company's TR performance measured over a three-year period ending
31 December 2022. TR is calculated by the change in net asset value
per share of the Company plus dividends. The award is also subject
to an additional holding period of two years before being released
and becoming exercisable.
The total number of Ordinary Shares over which nil-cost options
were granted on 8 April 2020 represents approximately 0.11 per
cent. of the Company's issued share capital.
The LTIP transaction took place in the United Kingdom, with a
grant date of 8 April 2020 and the Directors being notified on 8
April 2020.
The Annual Bonus Award 2019 notification is made in accordance
with Article 19 of the Market Abuse Regulations and further details
required under Article 19(6) are set out in Appendix I below.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Empiric Student Property plc (via Maitland/AMO below)
Tim Attlee (Chief Executive Officer)
Lynne Fennah (Chief Financial &
Operating Officer)
Jefferies International Limited Tel: 020 7029 8000
S tuart Klein
Tom Yeadon
RBC Europe Limited (trading as Tel: 020 7653 4000
RBC Capital Markets)
Charlie Foster
Marcus Jackson
M aitland/AMO (Communications Tel: 020 7379 5151
Adviser)
James Benjamin Email: empiric-maitland@maitland.co.uk
The Company's LEI is 213800FPF38IBPRFPU87.
Further information on Empiric can be found on the Company's
website at www.empiric.co.uk .
Notes:
Empiric Student Property plc is a leading provider and operator
of modern, direct-let, nominated or leased student accommodation
across the UK. Investing in both operating and development assets,
Empiric is a multi-niche student property company focused on, (i)
providing good quality first year accommodation managed through its
Hello Student(R) operating platform in partnership with
universities, (ii) offering a variety of second and third year
purpose-built accommodation options for individual students and
those wanting a group living environment, and (iii) continuing to
expand the Group's existing premium, studio-led accommodation
portfolio which is attractive to international and postgraduate
students.
The Company, an internally managed real estate investment trust
("REIT") incorporated in England and Wales, listed on the premium
listing segment of the Official List of the Financial Conduct
Authority and was admitted to trading on the main market for listed
securities of the London Stock Exchange in June 2014.
APPIX I
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Attlee
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Director
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Empiric Student Property plc
--------------------------------------- -------------------------------------------
b) LEI 213800FPF38IBPRFPU87
--------------------------------------- -------------------------------------------
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 Nil cost options over ordinary shares
financial instrument, of 1p each
type of instrument
Identification code GB00BLWDVR75
b) Nature of the transaction Nil cost option award
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
92.64p 80,116
------------------- -------------------
d) Aggregated information
- Aggregated volume 80,116
- Price 92.64p
e) Date of the transaction 8 April 2020
--------------------------------------- -------------------------------------------
f) Place of the transaction London
--------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Lynne Fennah
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Director
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Empiric Student Property plc
--------------------------------------- -------------------------------------------
b) LEI 213800FPF38IBPRFPU87
--------------------------------------- -------------------------------------------
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 Nil cost options over ordinary shares
financial instrument, of 1p each
type of instrument
Identification code GB00BLWDVR75
b) Nature of the transaction Nil cost option award
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
92.64p 72,396
------------------- -------------------
d) Aggregated information
- Aggregated volume 72,396
- Price 92.64p
e) Date of the transaction 8 April 2020
--------------------------------------- -------------------------------------------
f) Place of the transaction London
--------------------------------------- -------------------------------------------
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
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