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Picton Property Income Limited announced on June 25, 2025, the vesting of share awards to Persons Discharging Managerial Responsibility (PDMRs) Michael Morris and Jay Cable, under its 2016 Long-term Incentive Plan (LTIP) and 2018 Deferred Bonus Plan (DBP). Michael Morris vested 197,279 shares from a June 17, 2022 LTIP grant and 301,997 shares from a June 14, 2023 DBP grant, selling 92,909 and 142,225 shares respectively. Jay Cable vested 88,310 shares from the June 17, 2022 LTIP grant, selling all 88,310, and 137,324 notional shares from the June 14, 2023 DBP grant; all shares sold were at 80.05 pence per share.
| Date | 25 Jun 2025 |
| Time | 10:11:23 |
| Category | Director/PDMR dealings |
| ID | 3595O |
25 June 2025
PICTON PROPERTY INCOME LIMITED
('Picton' or the 'Company')
SHARE AWARDS VESTING
Picton announces the vesting of awards previously granted to Persons Discharging Managerial Responsibility ('PDMRs') under the Picton Property Income Limited 2016 Long-term Incentive Plan ('LTIP') and under the Picton Property Income Limited 2018 Deferred Bonus Plan ('DBP').
In respect of the LTIP and DBP awards granted on the following dates the following awards have now vested and been exercised over the number of ordinary shares as set out below:
|
PDMR |
Plan |
Grant date |
Number of shares vested |
Number of shares sold |
Number of notional shares vested |
|
Michael Morris |
LTIP |
17 June 2022 |
197,279 |
92,909 |
- |
|
Michael Morris |
DBP |
14 June 2023 |
301,997 |
142,225 |
- |
|
Jay Cable |
LTIP |
17 June 2022 |
88,310 |
88,310 |
|
|
Jay Cable |
DBP |
14 June 2023 |
- |
- |
137,324 |
Where appropriate, sufficient shares were sold to fund the tax liabilities arising on vesting of Executive Director share awards. The sale price for the shares sold was 80.05 pence per share.
This notification is made in accordance with the Market Abuse Regulation.
For further information:
Picton
Kathy Thompson, Company Secretary
020 7011 9988, kathy.thompson@picton.co.uk
About Picton
Established in 2005, Picton is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index.
Picton owns and actively manages a £723 million UK commercial property portfolio, invested across 47 assets and with around 350 occupiers (as at 31 March 2025).
Through an occupier focused, opportunity led approach, Picton aims to be the consistently best performing diversified UK REIT and has delivered upper quartile outperformance and a consistently higher income return than the MSCI UK Quarterly Property Index since launch.
With a portfolio strategically positioned to capture income and capital growth, currently weighted towards the industrial sector, Picton's agile business model provides flexibility to adapt to evolving market trends over the long-term.
Picton has a responsible approach to business and is committed to being net zero carbon by 2040.
For more information please visit:www.picton.co.uk
LEI: 213800RYE59K9CKR4497
ENDS