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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Newriver Reit Plc | LSE:NRR | London | Ordinary Share | GB00BD7XPJ64 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.40 | -0.53% | 75.60 | 75.80 | 76.00 | 76.00 | 75.70 | 75.90 | 708,794 | 16:35:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 73.6M | -16.8M | -0.0537 | -14.12 | 236.95M |
TIDMNRR
RNS Number : 4429A
NewRiver Retail Limited
28 September 2015
NewRiver Retail Ltd
("NewRiver" or the "Company")
Grant of Awards
NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment, active asset management and development, announces that on 28 September 2015 it granted awards under the NewRiver Retail Limited Performance Share Plan 2009, giving rights to acquire shares for nil consideration over a total of 773,072 ordinary shares of no par value ("Ordinary Shares") in the Company to Directors as detailed below.
Award Holder Number of Ordinary Vesting Dates Shares under Award ---------------- ------------------- --------------------- David Lockhart 117,578 50% on 28 September 2018 117,577 50% on 28 September 2019 ---------------- ------------------- --------------------- Allan Lockhart 102,881 50% on 28 September 2018 102,880 50% on 28 September 2019 ---------------- ------------------- --------------------- Mark Davies 88,183 50% on 28 September 2018 88,183 50% on 28 September 2019 ---------------- ------------------- --------------------- Nicholas Sewell 77,895 50% on 28 September 2018 77,895 50% on 28 September 2019 ---------------- ------------------- ---------------------
The awards have been made over 200% of salary and are therefore subject to, and split between one-third each, the three enhanced performance conditions which are outlined below. The Company consulted with its largest shareholders in respect of these awards.
Total Shareholder Return ("TSR")
For shares allocated against the TSR performance, 25% vest if TSR is 9% on a compound annual basis with full vesting at 16% with straight-line vesting in between.
Adjusted EPRA Earnings Per Share ("EPS")
For shares allocated against the EPS performance, 25% vest if the compound annual percentage growth is 5% per annum with full vesting at 12% with straight-line vesting in between.
Net Asset Value plus Dividends ("NAV")
For shares allocated against the NAV performance, 25% vest if NAV increases by 9% on a compound annual percentage growth with full vesting at 16% with straight-line vesting in between.
Half of the award will be tested and be capable of vesting after three years and half will be tested and capable of vesting after four years.
-Ends-
NewRiver Retail Limited Tel: 020 3328 5800 David Lockhart, Chief Executive Mark Davies, Finance Director Bell Pottinger Tel: 020 3772 2500 David Rydell / James Newman / David Bass Liberum Tel: 020 3100 2000 Richard Crawley / Jamie Richards Peel Hunt LLP Tel: 020 7418 8900 Capel Irwin / Alex Vaughan / Hugh Preston
About NewRiver
NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist real estate investor, asset manager and developer focused solely on the UK retail sector. At the close of 2014 NewRiver Retail was named Property Company of the Year - Retail & Leisure at the Estates Gazette Awards.
The management team, with over 100 years combined experience in the UK commercial property market, actively engages with retailers, stakeholders and consumers. NewRiver Retail is one of the UK's largest shopping centre owner/managers with assets under management of GBP1 billion million principally comprising 29 UK wide shopping centres, further nationwide retail assets and a portfolio of 360 public houses with retail extension opportunities. The portfolio has 1,440 occupiers, a total of over 6.0 million sq. ft., total annual footfall of over 126 million and a retail occupancy rate of 96 per cent.
The Company's activities include active and entrepreneurial asset management and risk-controlled development, utilising both its own balance sheet and co-investment joint venture structures.
Founded in 2009, NewRiver has become the UK's leading retail-focused property investment business. The Company's shares were admitted to London's AIM in September of the same year. For more information on NewRiver, please visit www.nrr.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 28, 2015 10:50 ET (14:50 GMT)
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