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23 June 2021
PICTON PROPERTY INCOME LIMITED
(“Picton”, the “Company” or the “Group”)
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 22 June 2021, 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:
LTIP share award
DBP share award
DBP notional share award
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 2024. 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 2021 to 31 March 2024. 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 22 June 2023. 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:
Northern Trust International Fund Administration Services (Guernsey) Limited,
Note to Editors
Picton, established in 2005, is a UK REIT. It owns and actively manages a £682 million diversified UK commercial property portfolio, invested across 46 assets and with around 350 occupiers (as at 31 March 2021). 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.