Safestore Holdings plc Director/PDMR Shareholding (3695N)

TIDMSAFE

RNS Number : 3695N

Safestore Holdings plc

29 January 2021

29 January 2021

Safestore Holdings plc (the "Company")

Grant of Awards under the Safestore 2020 Long Term Incentive Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that awards have been granted under the Safestore 2020 Long Term Incentive Plan ("2020 LTIP"), approved by shareholders at its annual general meeting held on 18 March 2020.

The Company has been notified of the following transactions in the Company's Ordinary shares of 1p each undertaken by directors / persons discharging managerial responsibility ("PDMRs") on 28 January 2021 in accordance with the rules of the 2020 LTIP.

 
 Name                 Status            Number of Ordinary   Option Price 
                                         Shares under LTIP 
                                         Award 
 Frederic Vecchioli   Chief Executive              101,465   GBPNil 
                       Officer 
                     ----------------  -------------------  ------------- 
 Andy Jones           Chief Financial               72,294   GBPNil 
                       Officer 
                     ----------------  -------------------  ------------- 
 

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 828.5 pence per share, being the closing share price on the dealing day immediately before the date of grant.

The normal vesting date of the LTIP Awards will be 28 January 2024, being the third anniversary of the award date. Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date. The LTIP Awards are subject to a two-year holding period commencing on vesting.

The LTIP Awards will normally vest after 3 years based on the satisfaction of the following performance conditions which are each measured over a 3 year period:

i. Two-thirds based on adjusted diluted EPRA EPS growth: 5% p.a. growth (threshold); 8% p.a. growth (maximum).

ii. One-sixth based on relative TSR against the FTSE 250 excluding Investment Trusts: Median performance (threshold); Upper quartile performance (maximum); and

iii. One-sixth based on relative TSR against the FTSE 350 Super Sector Real Estate: Median performance (threshold); Upper quartile performance (maximum).

25% of the relevant element of the LTIP Award will vest for threshold performance, with straight line vesting in between to full vesting for the achievement of maximum performance.

In addition, no award will vest unless a minimum level of Cash on Cash Return ("CoCR") of 8% p.a. has been met.

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK version of the EU Market Abuse Regulation which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons close associated with them.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Frederic Vecchioli 
      -------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status                        PDMR, Chief Executive Officer 
      -------------------------------------  ------------------------------------------ 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name                                   Safestore Holdings plc 
      -------------------------------------  ------------------------------------------ 
 b)    LEI                                    213800WGA3YSJC1YOH73 
      -------------------------------------  ------------------------------------------ 
 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 of the                     Ordinary shares of 1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                    GB00B1N7Z094 
 
 b)    Nature of the transaction              Grant of nil cost option under the 
                                               Safestore 2020 Long Term Incentive 
                                               Plan 
      -------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
                                              -------------------  ------------------ 
                                               Price(s)             Volume(s) 
                                              -------------------  ------------------ 
    Nil                                                             101,465 
   --------------------------------------------------------------  ------------------ 
 
 d)    Aggregated information 
 
  - Aggregated volume                    101,465 
 
  - Price                                Nil 
 
 e)    Date of the transaction                28 January 2021 
      -------------------------------------  ------------------------------------------ 
 f)    Place of the transaction               Outside a trading venue 
      -------------------------------------  ------------------------------------------ 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Andy Jones 
      -------------------------------------  ------------------------------------------ 
 2     Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status                        PDMR, Chief Financial Officer 
      -------------------------------------  ------------------------------------------ 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ------------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name                                   Safestore Holdings plc 
      -------------------------------------  ------------------------------------------ 
 b)    LEI                                    213800WGA3YSJC1YOH73 
      -------------------------------------  ------------------------------------------ 
 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 of the                     Ordinary shares of 1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                    GB00B1N7Z094 
 
 b)    Nature of the transaction              Grant of nil cost option under the 
                                               Safestore 2020 Long Term Incentive 
                                               Plan 
      -------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
                                              -------------------  ------------------ 
                                               Price(s)             Volume(s) 
                                              -------------------  ------------------ 
    Nil                                                             72,294 
   --------------------------------------------------------------  ------------------ 
 
 d)    Aggregated information 
 
  - Aggregated volume                    72,294 
 
  - Price                                Nil 
 
 e)    Date of the transaction                28 January 2021 
      -------------------------------------  ------------------------------------------ 
 f)    Place of the transaction               Outside a trading venue 
      -------------------------------------  ------------------------------------------ 
 

Enquiries:

Instinctif Partners: 020 7457 2020

Guy Scarborough

Catherine Wickman

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January 29, 2021 06:00 ET (11:00 GMT)