Market Capitalisation £482.44M

Picton Property Income Limited entered the UK REIT regime on 1 October 2018 and became a commercial company. As such Picton is outside the scope of AIFMD and is not required to produce a Key Information Document (KID) under PRIIPs.

Picton Property Income Ltd - Grant of Share Awards

PR Newswire

 25 June 2019

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

LEI: 213800RYE59K9CKR4497

GRANT OF SHARE AWARDS

Picton (LSE:PCTN) announces that the following share awards have been granted to Persons Discharging Managerial Responsibility (“PDMRs”).

Each of the following PDMRs have, on 19 June 2019, been granted share awards over ordinary shares in Picton Property Income Limited, being contingent 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
Michael Morris 328,153 175,137
Andrew Dewhirst 214,218 116,758
Jay Cable 150,163 -

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 2022. 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 2019 to 31 March 2022. No consideration was paid for any of the awards and no consideration is due on vesting.

The deferred share awards under the DBP will vest, subject to continued employment, on 19 June 2021. 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:

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

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

Note to Editors

Picton is a UK REIT, established in 2005. It owns and actively manages a £685 million diversified UK commercial property portfolio, invested across 49 assets and with around 350 occupiers (as at 31 March 2019). 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

Occupier focused, Opportunity led