TIDMRDI
RNS Number : 0125H
RDI REIT PLC
01 December 2020
RDI REIT P.L.C.
("RDI" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745
GRANT OF CONTINGENT AWARDS UNDER SHARE PLANS
RDI, the income focused UK Real Estate Investment Trust
("UK-REIT"), announces in accordance with Article 19(3) of the
Market Abuse Regulation, the following share awards.
Awards under the long term performance share plan
Contingent share awards have been granted to the executive
Directors or other Persons Discharging Managerial Responsibility
("PDMR") under the RDI Long Term Performance Share Plan which was
approved by shareholders in November 2013 and forms part of the
Company's Remuneration Policy, which was approved by shareholders
at the Annual General Meeting held on 23 January 2020 (the
"PSP").
Each of the following executive Directors or PDMR has, on 1
December 2020, been granted contingent share awards under the terms
of the PSP over the number of ordinary shares in RDI set out
below:
Director/PDMR Number of shares Total number of shares held
granted under as awards under the PSP
the PSP following grant
Mike Watters 743,372 1,827,137
----------------- ----------------------------
Stephen Oakenfull 528,663 1,299,427
----------------- ----------------------------
Adrian Horsburgh 481,221 1,182,760
----------------- ----------------------------
Donald Grant 447,035 1,098,947
----------------- ----------------------------
Subject to continued employment and the satisfaction of
performance targets as set out in the Company's Annual Report, the
awards will vest three years from date of grant, and thereafter
will be subject to an additional two year holding period. All
vested shares must be retained, net of tax, until the executive
Director or PDMR has accumulated a shareholding in the Company
equivalent to two times base salary as part of the minimum
shareholding requirements.
The figures above reflect the maximum number of ordinary shares
which could vest. The actual number which will vest will depend on
the extent to which the performance targets are satisfied over the
performance period. No consideration was paid for any of the awards
and no consideration is due on vesting.
Awards under the Short-Term Incentive Plan
Deferred bonus share awards have been granted to the executive
Directors and PDMR under the short-term incentive plan, which forms
part of the Company's Remuneration Policy approved by shareholders
at the Annual General Meeting held on 23 January 2020 ("STIP").
Each of the following executive Directors or PDMR has, on 1
December 2020, been awarded deferred bonus shares in the Company
under the terms of the STIP, as set out below:
Director/PDMR Number of deferred Total number of shares held
shares granted under as awards under the STIP
the STIP following grant
Mike Watters 41,908 92,552
---------------------- ----------------------------
Stephen Oakenfull 33,332 72,883
---------------------- ----------------------------
Adrian Horsburgh 28,676 65,440
---------------------- ----------------------------
Donald Grant 26,637 57,886
---------------------- ----------------------------
Under the STIP, executive Directors or PDMRs may receive a bonus
of up to 150 per cent of their salary, subject to the achievement
of certain performance targets. 40 per cent of such award is made
in shares, deferred for two years. The awards will vest two years
from date of grant, subject only to continuous employment or good
leaver status, and will be subject to the minimum shareholding
requirements.
For further information:
RDI REIT P.L.C.
Stephen Oakenfull, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey Tel: +44 (0) 20 3727 1000
rdireit@fticonsulting.com
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
RDI@instinctif.com
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
Note to editors:
About RDI
RDI is an income focused UK Real Estate Investment Trust
(UK-REIT) with a diversified portfolio invested principally in the
UK. The investment approach is driven by an in depth understanding
of occupational demand including the impact of technology,
transport and infrastructure investment. The portfolio has been
repositioned in recent years to increase its weighting to London
and the South East and to provide greater exposure to our leading
hotel and serviced office operating platforms.
RDI is committed to delivering attractive income led total
returns across the real estate cycle. The current strategic
objectives of a lower leverage capital structure and more focused
allocation of capital are targeted at delivering an industry
leading and sustainable income return.
RDI holds a primary listing on the London Stock Exchange and a
secondary listing on the JSE. The Company is included within the
EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website www.rdireit.com
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END
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December 01, 2020 02:05 ET (07:05 GMT)
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