Picton Prop Inc Ltd Grant of Awards Under Long Term Incentive Plan

 
TIDMPCTN 
 
1 February 2017 
 
                        PICTON PROPERTY INCOME LIMITED 
                   ("Picton", the "Company" or the "Group") 
 
                GRANT OF AWARDS UNDER LONG TERM INCENTIVE PLAN 
 
Picton (LSE:PCTN), the property investment company, announces that contingent 
share awards have been granted to Persons Discharging Managerial Responsibility 
("PDMRs") under the Picton Property Income Limited 2016 Long Term Incentive 
Plan ("LTIP"), which was approved by shareholders on 30 November 2016. 
 
Each of the following PDMRs have, on 27 January 2017, been granted contingent 
share awards in the form of nil-cost options over the number of ordinary shares 
in Picton Property Income Limited, under the terms of the LTIP, as set out 
below: 
 
                   PDMR                             Number of shares awarded 
 
Michael Morris                                              358,791 
 
Andrew Dewhirst                                             211,418 
 
Jay Cable                                                   161,851 
 
Fraser D'Arcy                                               139,976 
 
In addition each PDMR has been awarded linked tax qualifying options over 
37,933 shares at an exercise price of GBP0.79085. On exercise the number of 
shares under the nil-cost option will be reduced proportionally to take account 
of any gain on the exercise of the tax qualifying option such that the PDMR 
will not receive a greater number of shares than is subject to the nil-cost 
option. 
 
The options awarded will vest, subject to continued employment and the 
satisfaction of performance conditions, following completion of the performance 
period which ends on 31 March 2019. The actual number of shares that will vest 
will depend on the extent to which the performance conditions are satisfied 
over the performance period, which runs from 1 April 2016 to 31 March 2019. No 
consideration was paid for any of the awards and no consideration is due on 
vesting 
 
This notification is made in accordance with the Market Abuse Regulation. 
 
                                     ENDS 
 
 
For further information: 
 
Tavistock 
Jeremy Carey/James Verstringhe, 020 7920 3150, [e-mail] 
 
 
Picton Capital Limited 
Michael Morris, 020 7011 9980, [e-mail] 
 
 
Note to Editors 
Picton is an income focused property investment company listed on the London 
Stock Exchange. Picton can invest both directly and indirectly in commercial 
property across the United Kingdom. 
 
 
With Net Assets of GBP434.4 million at 31 December 2016, the Company´s objective 
is to provide shareholders with an attractive level of income, together with 
the potential for capital growth by investing in the principal commercial 
property sectors.  www.picton.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

February 01, 2017 10:02 ET (15:02 GMT)