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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| St.modwen Properties Plc | LSE:SMP | London | Ordinary Share | GB0007291015 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 559.00 | 559.00 | 560.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSMP
RNS Number : 1851O
St. Modwen Properties PLC
02 November 2016
2 November 2016
St. Modwen Properties PLC
(the "Company")
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them (in accordance with the Market Abuse Regulations)
St. Modwen Properties PLC announces that, following his recent appointment as Chief Executive Designate, Mark Allan was on 2 November 2016 granted an award over a total of 694,325 ordinary shares of 10 pence each in the capital of the Company ("Shares") under and subject to the term of a share award agreement entered into upon reliance of FCA Listing Rule 9.4.2(2).
The award terms were agreed in connection with Mark Allan's recruitment and relate to share incentive awards granted by his previous employer that have been forfeited.
The award comprising such distinct nil cost option tranches with their corresponding relevant vesting date and relevant performance condition (if any) as noted in the table below:
Hot Features
Premium
Tranche's
Number of Relevant
Shares comprised Vesting Relevant Performance
Tranche within Tranche Date Condition
-------- ------------------ ---------- ---------------------
Tranche 138,539 Shares 10 April None.
One 2017
-------- ------------------ ---------- ---------------------
Tranche 211,353 Shares 10 April That which would
Two 2017 have applied to
the relevant former
employer LTIP award
granted in April
2014 with a normal
performance period
expiring 31(st)
December 2016.
-------- ------------------ ---------- ---------------------
Tranche 105,708 Shares 10 April
Three 2018
-------- ------------------ ---------- ---------------------
Tranche 159,134 Shares 2 April That which would
Four 2018 have applied to
the relevant former
employer LTIP award
granted in April
2015 with a normal
performance period
expiring 31(st)
December 2017.
-------- ------------------ ---------- ---------------------
Tranche 79,591 Shares 2 April
Five 2019
-------- ------------------ ---------- ---------------------
The tranches will normally vest on their vesting date subject to the grantee's continued service and to the extent to which the relevant performance condition (if any) is satisfied.
The tranches will normally remain exercisable to their vested extent for a period of six months from time of vesting (or such longer period as the Board approves during such period).
On exercise the tranches will be satisfied using existing Shares only.
The award includes an entitlement to a cash payment following a tranche's vesting date in respect of dividend equivalent value that would have accrued under the forfeited awards to the extent they had vested.
Details of the full notification received by the Company are set out below.
1. Details of the person discharging managerial
responsibilities / person closely associated
--- -----------------------------------------------------------------------------------
a) Name Mark Allan
--- ------------------------------- --------------------------------------------------
2. Reason for the Notification
--- -----------------------------------------------------------------------------------
a) Position/status Chief Executive Designate
--- ------------------------------- --------------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- --------------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------
a) Name St. Modwen Properties PLC
--- ------------------------------- --------------------------------------------------
b) LEI 213800WMV4WVES8TQH05
--- ------------------------------- --------------------------------------------------
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 Ordinary shares of 10 pence
of the Financial each in St. Modwen Properties
instrument, PLC
type of instrument
---
Identification GB0007291015
code
--- ------------------------------- --------------------------------------------------
b) Nature of the Award over 694,325 ordinary
transaction shares. The award comprising
such distinct nil cost option
tranches with their corresponding
relevant vesting date as
follows: Tranche Number Relevant Vesting
of Shares Date
-------- ----------- -----------------
One 138,539 10 April 2017
-------- ----------- -----------------
Two 211,353 10 April 2017
-------- ----------- -----------------
Three 105,708 10 April 2018
-------- ----------- -----------------
Four 159,134 2 April 2018
-------- ----------- -----------------
Five 79,591 2 April 2019
-------- ----------- -----------------
Tranche one vesting subject
to continued service until
the relevant vesting date.
Tranches two to five vesting
subject to continued service
until the relevant vesting
date and subject to satisfaction
of performance conditions.
Vested tranches ordinarily
exercisable for six months.
The award includes an entitlement
to a cash payment following
a tranche's vesting date
in respect of dividend equivalent
value that would have accrued
under the forfeited awards
to the extent they had vested.
--- ------------------------------- --------------------------------------------------
c) Price(s) and N/A
volume(s)
--- ------------------------------- --------------------------------------------------
d) Aggregated information: N/A
--- ------------------------------- --------------------------------------------------
e) Date of the 2016-11-02
transaction
--- ------------------------------- --------------------------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------------- --------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHAKBDKOBDDKDK
(END) Dow Jones Newswires
November 02, 2016 13:01 ET (17:01 GMT)
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