15
June 2023
PICTON
PROPERTY INCOME LIMITED
("Picton",
the "Company" or the "Group")
LEI:
213800RYE59K9CKR4497
GRANT
OF SHARE AWARDS
Picton
announces that the following awards have been granted to Persons
Discharging Managerial Responsibility ("PDMRs").
Each of
the following PDMRs have, on 14 June
2023, been granted awards over ordinary shares in Picton
Property Income Limited, being contingent share awards in the form
of nil-cost options under the terms of the Picton Property Income
Limited 2016 Long Term Incentive Plan ("LTIP") and deferred awards
under the terms of the Picton Property Income Limited 2018 Deferred
Bonus Plan ("DBP"), as set out below:
PDMR
|
LTIP
share award
|
DBP
share award
|
DBP
notional share award
|
Michael
Morris
|
456,408
|
301,997
|
-
|
Andrew
Dewhirst
|
273,114
|
205,359
|
-
|
Jay
Cable
|
194,462
|
-
|
137,324
|
The
nil-cost options awarded under the LTIP will vest, subject to
continued employment and the satisfaction of performance
conditions, following completion of the performance period which
ends on 31 March 2026. The actual
number of shares that will vest will depend on the extent to which
the performance conditions are satisfied over the performance
period, which runs from 1 April 2023
to 31 March 2026. No consideration
was paid for any of the awards and no consideration is due on
vesting.
The
deferred awards under the DBP will vest, subject to continued
employment, on 14 June 2025. No
consideration was paid for the awards and no consideration is due
on vesting.
This
notification is made in accordance with the Market Abuse
Regulation.
For
further information:
Company
Secretary
Northern
Trust International Fund Administration Services (Guernsey)
Limited, 01481 745001, team_picton@ntrs.com
Note
to Editors
Picton,
established in 2005, is a UK REIT. It owns and actively manages a
£766 million diversified UK commercial property portfolio, invested
across 49 assets and with around 400 occupiers (as
at 31
March 2023).
Through an
occupier focused, opportunity led approach to asset management,
Picton aims to be one of the consistently best performing
diversified UK focused property companies listed on the main market
of the London Stock Exchange.
For more information please visit:
www.picton.co.uk.
ENDS