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Real Estate Investors Plc announced that share awards made to Chief Executive Paul Bassi and Finance Director Marcus Daly on 20 June 2022 vested on 27 March 2025. These awards vested at 50% based on performance conditions and were reduced by two-thirds. Paul Bassi vested 185,654 ordinary shares and Marcus Daly vested 116,034 ordinary shares, with a nil transaction price.
| Date | 28 Mar 2025 |
| Time | 07:00:10 |
| Category | Director/PDMR dealings |
| ID | 5703C |
Real Estate Investors Plc
("REI" or the "Company")
Vesting of LTIP Awards
Real Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of commercial property across all sectors, is pleased to announce that share awards made on 20 June 2022 to directors of the Company vested on 27 March 2025 at 50% (based on performance conditions) in the following amounts: Paul Bassi (Chief Executive) 185,654 ordinary shares; and Marcus Daly (Finance Director) 116,034 ordinary shares.
The directors now have the right to be issued with the shares awarded (for nil or nominal consideration) although such issues have not yet occurred and remain subject to the exercise by the directors of their right.
In accordance with the Shorter Term Incentive Plan ("STIP") announced on 29 January 2024, these awards have been reduced by two thirds.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
Enquiries:
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Real Estate Investors Plc |
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Paul Bassi/Marcus Daly |
+44 (0)121 212 3446 |
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Cavendish Capital Markets Limited (Nominated Adviser) |
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Katy Birkin/Ben Jeynes |
+44 (0)20 7220 0500 |
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Panmure Liberum Limited (Broker) |
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Jamie Richards/William King |
+44(0)20 3100 2000 |
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About Real Estate Investors Plc
Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors. The portfolio has no material reliance on a single asset or occupier. On 1st January 2015, the Company converted to a REIT. Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities. The Company announced in January 2024 that it would be undertaking an orderly strategic sale of the Company's portfolio over three years, disposing of assets individually or collectively, at or above book value, to optimise returns to shareholders. The pace of the disposal programme will be dictated by market conditions, with an initial focus on repaying the Company's debt. In the meantime, it is the Board's intention to continue paying a fully covered quarterly dividend. Further information on the Company can be found at www.reiplc.com.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1 |
Details of the person discharging managerial responsibilities / person closely associated
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a) |
Name |
1. Paul Bassi 2. Marcus Daly
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2 |
Reason for the notification
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a) |
Position/status |
1. Chief Executive 2. Finance Director
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b) |
Initial notification/Amendment |
Initial notification
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) |
Name |
Real Estate Investors Plc
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b) |
LEI |
21380015X5JMEGUHPD83
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4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of 10p each
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Identification code |
GB00B45XLP34
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b) |
Nature of the transaction |
Award of share options Real Estate Investors Plc Senior Executives Long Term Incentive Plan
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c) |
Price(s) and volumes(s) |
Price(s) |
Volume(s)
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1. Nil
2. Nil |
1. 185,654
2. 116,034 |
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d) |
Aggregated information
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Aggregated volume |
N/A
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Price |
N/A
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e) |
Date of the transaction |
27 March 2025
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f) |
Place of the transaction |
Outside of a trading venue
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