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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Unite Group Plc | LSE:UTG | London | Ordinary Share | GB0006928617 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
15.00 | 1.64% | 932.00 | 931.00 | 932.00 | 937.00 | 915.00 | 916.50 | 827,557 | 16:29:59 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 276.1M | 102.5M | 0.2546 | 36.61 | 3.75B |
TIDMUTG
RNS Number : 7014K
Unite Group PLC (The)
23 April 2020
THE UNITE GROUP PLC (THE "COMPANY")
23 April 2020
GRANT OF OPTIONS AND DIRECTORS' INTERESTS
As noted in the Company's Coronavirus Update dated 22 April 2020 and having regard to wider remuneration changes in response to Coronavirus, the Company has granted awards under the long term incentive plan to the Executive Directors on 23 April as follows:
Director Nil cost options HMRC approved options Richard Smith Chief Executive Officer 117,383 746 ----------------- ---------------------- Joe Lister Chief Financial Officer 95,510 746 ----------------- ----------------------
In granting these awards, the Remuneration Committee noted that the Company's share price has recently trended lower due to the Coronavirus crisis, but after careful consideration decided to calculate the number of options for this year's grant on a consistent basis with prior years.
The performance conditions applying to the awards will remain unchanged from those announced in the Company's 2019 Annual Report, which were set prior to the impact of coronavirus. Further, in accordance with the Plan Rules and Remuneration Policy, the Committee will retain full discretion to moderate vesting levels to ensure that the number and value of options vesting in 3 years is appropriate. In making this assessment, the Committee will take into consideration, among other things, the underlying performance of the Company over the period, the experience of the Company's stakeholders, as well as other factors such as avoiding any windfall gains.
The HMRC approved options were awarded at an option price of 803.50p per share, being the closing middle market price of the shares on the day prior to the date on which the options were granted.
The number of shares in respect of which Messrs Smith and Lister may exercise these options will be determined following the three year measurement period ending 31 December 2022, by reference to the EPRA adjusted earnings per share, total accounting return and total shareholder return performance of the Company over this period. A two year holding period applies to these options, such that options vesting may only be exercised from 23 April 2025, the fifth anniversary of the date of grant.
This notification is made in accordance with the requirements of the Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities / person closely associated a) Name Richard Smith ------------------------------ --------------------------------- 2 Reason for the notification ----------------------------------------------------------------- a) Position/status 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 The Unite Group plc ------------------------------ --------------------------------- b) LEI 213800BBUUWVDH9YI827 ------------------------------ --------------------------------- 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, Ordinary shares of 25p each type of instrument GB0006928617 Identification code ------------------------------ --------------------------------- b) Nature of the transaction Grant of LTIP options ------------------------------ --------------------------------- Price(s) Volume(s) c) Price(s) and volume(s) Nil cost 117,383 ---------- 803.50p 746 ---------- ------------------------------ --------------------------------- Aggregated information - Aggregated volume 118,129 d) - Price 803.50p ------------------------------ --------------------------------- e) Date of the transaction 23 April 2020 ------------------------------ --------------------------------- f) Place of the transaction London Stock Exchange ------------------------------ --------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated ----------------------------------------------------------------- a) Name Joe Lister ------------------------------ --------------------------------- 2 Reason for the notification ----------------------------------------------------------------- a) Position/status 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 The Unite Group plc ------------------------------ --------------------------------- b) LEI 213800BBUUWVDH9YI827 ------------------------------ --------------------------------- 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, Ordinary shares of 25p each type of instrument Identification code GB0006928617 ------------------------------ --------------------------------- b) Nature of the transaction Grant of LTIP options ------------------------------ --------------------------------- Price(s) Volume(s) c) Price(s) and volume(s) Nil cost 95,510 ---------- 803.50p 746 ---------- ------------------------------ --------------------------------- Aggregated information - Aggregated volume 96,256 d) - Price 803.50p ------------------------------ --------------------------------- e) Date of the transaction 23 April 2020 ------------------------------ --------------------------------- f) Place of the transaction London Stock Exchange ------------------------------ ---------------------------------
For further information, please contact:
Unite Students Christopher Szpojnarowicz, Company Secretary Tel: +44 117 302 7120
END
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 rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
April 23, 2020 10:25 ET (14:25 GMT)
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