St. Modwen Properties PLC Director/PDMR Shareholding (7512Q)

TIDMSMP

RNS Number : 7512Q

St. Modwen Properties PLC

21 February 2019

21 February 2019

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 the following transactions:

2019 Performance Share Plan Award

On 20 February 2019 awards under the St. Modwen Properties PLC 2017 Performance Share Plan, structured as nil-cost options over the Company's ordinary shares of 10 pence each, were granted to the executive directors noted below:

 
 Director / PDMR    Number of shares comprising award 
 Mark Allan                                   224,170 
                   ---------------------------------- 
 Rob Hudson                                   125,802 
                   ---------------------------------- 
 

Vesting of the awards is subject to the achievement of relative TSR performance (assessed on a median to upper quartile ranking approach using a bespoke comparator group of real estate companies) and total accounting return (measuring growth in net asset value plus dividends paid), both measured independently over the three financial years ending on 30 November 2021.The awards are also subject to a compulsory two-year post-vesting holding period.

The notifications set out below relating to the above transactions are provided in accordance with the requirements of the EU Market Abuse Regulation.

 
            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 
                ---------------------------------------------------  ------------------------------------------------- 
 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 of the Financial instrument, type of     Ordinary shares of 10 pence each in St. 
                 instrument                                            Modwen Properties PLC 
                 Identification code                                  GB0007291015 
                ---------------------------------------------------  ------------------------------------------------- 
 b)              Nature of the transaction                            Nil cost option over 224,170 ordinary shares 
                                                                       granted under the St. Modwen Properties 
                                                                       PLC 2017 Performance Share Plan ("2019 
                                                                       PSP"). Vesting of award subject to satisfaction 
                                                                       of performance conditions measured over 
                                                                       a three-year period ending on 30 November 
                                                                       2021. Award subject to a compulsory two-year 
                                                                       post-vesting holding period. 
                ---------------------------------------------------  ------------------------------------------------- 
 c)              Price(s) and volume(s)                               N/A 
                ---------------------------------------------------  ------------------------------------------------- 
 d)              Aggregated information:                              N/A 
                ---------------------------------------------------  ------------------------------------------------- 
 e)              Date of the transaction                              2019-02-20 
                ---------------------------------------------------  ------------------------------------------------- 
 f)              Place of the transaction                             Outside a trading venue 
                ---------------------------------------------------  ------------------------------------------------- 
 
 
 1.              Details of the person discharging managerial responsibilities 
                  / person closely associated 
 a)              Name                                                 Robert Hudson 
                ---------------------------------------------------  ------------------------------------------------- 
            2.   Reason for the Notification 
                ------------------------------------------------------------------------------------------------------ 
 a)              Position/status                                      Chief Financial Officer 
                ---------------------------------------------------  ------------------------------------------------- 
 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 of the Financial instrument, type of     Ordinary shares of 10 pence each in St. 
                 instrument                                            Modwen Properties PLC 
                 Identification code                                  GB0007291015 
                ---------------------------------------------------  ------------------------------------------------- 
 b)              Nature of the transaction                            Nil cost option over 125,802 ordinary 
                                                                       shares granted under the St. Modwen Properties 
                                                                       PLC 2017 Performance Share Plan ("2019 
                                                                       PSP"). Vesting of award subject to satisfaction 
                                                                       of performance conditions measured over 
                                                                       a three-year period ending on 30 November 
                                                                       2021. Award subject to a compulsory two-year 
                                                                       post-vesting holding period. 
                ---------------------------------------------------  ------------------------------------------------- 
 c)              Price(s) and volume(s)                               N/A 
                ---------------------------------------------------  ------------------------------------------------- 
 d)              Aggregated information:                              N/A 
                ---------------------------------------------------  ------------------------------------------------- 
 e)              Date of the transaction                              2019-02-20 
                ---------------------------------------------------  ------------------------------------------------- 
 f)              Place of the transaction                             Outside a trading venue 
                ---------------------------------------------------  ------------------------------------------------- 
 

LEI: 213800WMV4WVES8TQH05

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February 21, 2019 07:00 ET (12:00 GMT)