Yew Grove REIT PLC Director/PDMR Shareholding (2404Q)
February 15 2019 - 6:30AM
UK Regulatory
TIDMYEW
RNS Number : 2404Q
Yew Grove REIT PLC
15 February 2019
15 February 2019
Yew Grove REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
LTIP Option Awards / PDMR Notification
The Board of Yew Grove REIT plc (ticker: Yew) (the "Board")
announces that on 15 February 2019, the Company granted Jonathan
Laredo, the Company's Chief Executive Officer, Michael Gibbons the
Company's Chief Investment Officer and Charles Peach, the Company's
Chief Financial Officer, (together the "Executives") options at 1
cent per share over a total of 1,125,000 ordinary shares of EUR0.01
each in the Company ("Ordinary Shares") pursuant to the Company
Long Term Incentive Plan (the "LTIP") pursuant to the 2019
financial year.
This is the first grant under the Company LTIP scheme since its
Admission to trading on the London and Irish stock Exchanges and is
made on the terms disclosed to investors at the time of Admission.
The grant is equally divided between each of the Executive
Directors so that each one of the Executive Directors is entitled
to 375,000 Ordinary Shares subject to the satisfaction of the
performance conditions described below.
The LTIP is subject to performance conditions under which 1/3 of
the grant relates to a total return (defined as the annualised
share price assuming the reinvestment of dividends) and where 30%
of the award vests if the total return is at least 10% with 100%
vesting at an annualised return of 15% and above. The return will
be measured over the three years ending 31(st) December 2021. 1/3
of the grant is measured by reference to the Company Net Asset
Value per share at 31(st) December 2021 with a 30% grant at 110
cents and a 100% grant at 120 cents. The final 1/3 vests on the
dividend per share paid in respect of the year ended 31(st)
December 2021 with 30% vesting at 6.0 cents per share and 100% at
7.5 cents and above. In each case the amount of the grant increases
at a pre-determined pro-rata basis between 30% at the minimum level
up to 100% at the maximum level.
The total number of Ordinary Shares over which options were
granted on 12 February 2019 represents approximately 1.5 per cent.
of the Company's issued share capital.
Enquiries:
Yew Grove REIT plc Tel: 353 (1) 480 3960
Jonathan Laredo, Chief Executive
Officer
Michael Gibbons, Chief Investment
Officer
Charles Peach, Chief Financial
Officer
Investec Bank plc
NOMAD & Joint Broker: Tel: +44 (0) 20 7597
David Anderson, Darren Vickers 5970
ESM Advisor & Joint Broker: Tel: +353 (1) 421
Tommy Conway, Eoin Kennedy 0000
Goodbody Stockbrokers
Joint Broker: Tel +353 (1) 667 0400
David Kearney, Joe Gill
Hume Brophy Tel: + 353 (1) 662
4712
Media Enquiries yewgrove@humebrophy.com
Edel Bach, Karin O'Conor
Notes to editors:
Yew Grove REIT is an Irish commercial real estate company
invested in a diversified portfolio of Irish commercial property,
with a particular focus on well-tenanted commercial real estate
assets comprising office and industrial assets let to Irish
government entities and other state bodies, IDA Ireland supported
and other FDI companies, and larger corporates.
Further information on the Company can be found on the Company's
website at www.ygreit.com
APPENDIX I
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name 1. Jonathan Laredo
2. Charles Peach
3. Michael Gibbons
------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
1. Chief Executive Officer
a) Position/status 2. Chief Financial Officer
3. Chief Investment Officer
------------------------------------------------------- -------------------------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------- -------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------------
a) Name Yew Grove REIT plc
------------------------------------------------------- -------------------------------------------------------
b) LEI 6354003383UIBIYIJA86
------------------------------------------------------- -------------------------------------------------------
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 Ordinary Shares of EUR0.01 each
instrument
Identification code
ISIN: IE00BDT5KP12
------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of Share Options made in accordance with the Yew
Grove REIT plc Long Term Incentive
Plan
------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1. EUR0.01 1. 375,000
2. EUR0.01 2. 375,000
3. EUR0.01 3. 375,000
-----------------
------------------------------------------------------- -------------------------------------------------------
d) Aggregated information Price(s) Volume(s)
N/A N/A
----------
------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 15 February 2019
------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
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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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