Hibernia REIT PLC Long-Term Incentive Plan ("LTIP") grant (8168U)

TIDMHBRN

RNS Number : 8168U

Hibernia REIT PLC

31 July 2020

Long-Term Incentive Plan ("LTIP") grant

Hibernia REIT plc (the "Company") announces that on 29 July 2020 conditional awards of the Company's ordinary shares of EUR0.10 cent each ("LTIP Shares") under the LTIP were granted to Executive Directors and other Persons Discharging Managerial Responsibilities ("PDMRs") as outlined below.

 
 Directors           LTIP Shares 
                      at nil consideration 
 Kevin Nowlan        807,899 
                    ---------------------- 
 Tom Edwards-Moss    610,412 
                    ---------------------- 
 
 Other PDMRs         LTIP Shares 
                      at nil consideration 
                    ---------------------- 
 Edwina Governey     235,637 
                    ---------------------- 
 Justin Dowling      235,637 
                    ---------------------- 
 Sean O'Dwyer        197,935 
                    ---------------------- 
 Frank O'Neill       161,579 
                    ---------------------- 
 Gerard Doherty      188,509 
                    ---------------------- 
 

The above LTIP Shares vest after three years, subject to the following performance conditions: Relative Total Shareholder Return, Relative Total Property Return and Total Accounting Return per share. Details of the performance targets will be set out in full in the Company's Remuneration Committee Report for the year ending 31 March 2021.

The Remuneration Committee retains the discretion to make adjustments to the vesting if it considers that the formulaic outcomes resulting from the application of the performance conditions are not a fair and accurate reflection of Group or individual performance. This includes consideration of any windfall gains resulting from share price volatility due to the timing of the 2020 LTIP grant.

These transactions took place outside of a trading venue.

This notification is made in accordance with the requirements of the EU Market Abuse Regulation. The identification code for the Company's ordinary shares of EUR0.10 cent each is IE00BGHQ1986 and the LEI code for

the Company is   635400MHRA4QVVFTON18. 

ENDS

Contacts:

Hibernia REIT plc [phone]

Tom Edwards-Moss, Chief Financial Officer

Sean O'Dwyer, Company Secretary

Murray Consultants

Doug Keatinge: [phone] , dkeatinge@murray group.ie

Andrew Smith: [phone], [e-mail]

About Hibernia REIT plc

Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT"), listed on Euronext Dublin and the London Stock Exchange. Hibernia owns and develops property and specialises in Dublin city centre offices.

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 [e-mail] or visit www.rns.com.

END

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July 31, 2020 10:15 ET (14:15 GMT)