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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rdi Reit P.l.c. | LSE:RDI | London | Ordinary Share | IM00BH3JLY32 | ORD 40P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 121.20 | 121.20 | 121.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRDI
RNS Number : 1252V
Redefine International PLC
25 January 2017
REDEFINE INTERNATIONAL P.L.C.
("Redefine International" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
GRANT OF CONTINGENT AWARDS UNDER LONG TERM PERFORMANCE SHARE PLAN
Redefine International, the FTSE 250 income focused UK Real Estate Investment Trust ("UK-REIT"), announces that contingent share awards have been granted to certain executive directors under the Redefine International P.L.C. Long Term Performance Share Plan ("PSP"), which was approved by shareholders in November 2013, and forms part of the Company's New Remuneration Policy, which was approved by shareholders at the Annual General Meeting held on 23 January 2017.
Each of the following executive directors and persons discharging managerial responsibility ("PDMR") have, on 25 January 2017, been granted contingent share awards over the number of ordinary shares in Redefine International under the terms of the PSP, as set out below:
Director/PDMR Number of PSP shares Total number of awarded on 25 January shares held as 2017 awards under the PSP following grant Mike Watters 1,698,440 5,170,205 Stephen Oakenfull 1,099,567 3,347,184 Adrian Horsburgh 1,099,567 2,677,517 Donald Grant 1,021,665 2,094,462
The awards will vest three years from date of grant, subject to continued employment and the satisfaction of performance targets. The figures above reflect the maximum number of shares that could vest. The actual number that will vest will depend on the extent to which the performance targets are satisfied over the performance period. No consideration was paid for any of the awards and no consideration is due on vesting. This notification is made in accordance with DTR 3.1.4R (1)(a).
For further information:
Redefine International P.L.C. Mike Watters, Stephen Oakenfull Tel: +44 (0) 20 7811 0100 FTI Consulting UK Public Relations Adviser Dido Laurimore, Claire Turvey, Tel: +44 (0) 20 Ellie Sweeney 3727 1000 Instinctif Partners SA Public Relations Adviser Frederic Cornet, Lizelle du Tel: +27 (0) 11 Toit 447 3030 Java Capital JSE Sponsor Tel: +27 (0) 11 722 3050
Note to editors:
About Redefine International
Redefine International is an income focused FTSE 250 UK Real Estate Investment Trust (UK-REIT) committed to delivering superior distributions to its shareholders throughout the property cycle.
The Company's income driven total returns are underpinned by a diversified portfolio, together with an efficient capital structure. The continued transformation of both the corporate structure and asset base offer a solid foundation to drive further value. The diversified portfolio, independently valued at GBP1.53 billion, is focused in Europe's two strongest economies, being the United Kingdom and Germany. The portfolio is weighted towards well located properties across a range of sectors, including retail, offices, distribution and hotels, which benefit from strong demand and from which they can capture income and value growth by attracting high calibre occupiers on long leases. The Company's investment philosophy is to effectively allocate recycled capital from mature assets into sectors and locations with strong occupier fundamentals and individual assets with realisable upside.
Currently the secure income stream is supported by a diversified portfolio and tenant base, with a WAULT of 7.8 years complemented by an average debt maturity of 6.9 years of which over 95% of interest costs are either fixed or capped. The Company is focused on all aspects impacting shareholder distributions and boasts one of the lowest cost ratios in the industry whilst continuously driving a lower cost of debt.
Redefine International holds a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and is included within the FTSE 250, EPRA and GPR indices.
The Company will be hosting a Capital Markets Day on Monday, 6 February 2017. The presentation and a live webcast will be available on the Company's website at 10:30am (UK time), 12:30pm (SA time) on Monday, 6 February 2017: www.redefineinternational.com.
For more information on Redefine International, please refer to the Company's website www.redefineinternational.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
January 25, 2017 10:30 ET (15:30 GMT)
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