Picton Property Income Ltd - Grant of Awards Under LTIP

PR Newswire

 12 June 2018

PICTON PROPERTY INCOME LIMITED
(“Picton”, the “Company” or the “Group”)

LEI: 213800RYE59K9CKR4497

GRANT OF AWARDS UNDER LONG TERM INCENTIVE PLAN

Picton (LSE:PCTN), the property investment company, announces that contingent share awards have been granted to Persons Discharging Managerial Responsibility (“PDMRs”) under the Picton Property Income Limited 2016 Long Term Incentive Plan (“LTIP”).

Each of the following PDMRs have, on 8 June 2018, been granted contingent share awards in the form of nil-cost options over the number of ordinary shares in Picton Property Income Limited, under the terms of the LTIP, as set out below:

PDMR Number of shares awarded
Michael Morris 330,396
Andrew Dewhirst 193,833
Jay Cable 148,678
Fraser D’Arcy 128,855

The options awarded will vest, subject to continued employment and the satisfaction of performance conditions, following completion of the performance period which ends on 31 March 2021. 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 2018 to 31 March 2021. No consideration was paid for any of the awards and no consideration is due on vesting

This notification is made in accordance with the Market Abuse Regulation.

ENDS

For further information:

Tavistock
Jeremy Carey/James Verstringhe, 020 7920 3150, james.verstringhe@tavistock.co.uk

Picton Capital Limited
Michael Morris, 020 7011 9980, michael.morris@picton.co.uk

Note to Editors
Picton is a property investment company established in 2005.  It owns and actively manages a £684 million diversified UK commercial portfolio, invested across 51 assets and with around 360 occupiers (as at 31 March 2018). 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.