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RDI REIT PLC - Admission of new ordinary shares following vesting of share awards

Release Date: 01/12/2020 09:05
Code(s): RPL     PDF:  
Wrap Text
Admission of new ordinary shares following vesting of share awards

RDI REIT P.L.C.
(“RDI” or the “Company”)
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745


ADMISSION OF NEW ORDINARY SHARES FOLLOWING VESTING OF SHARE AWARDS


On 1 December 2020 deferred bonus awards made to executives under the Company’s STIP, vested in full.
These will be issued in accordance with the Remuneration Policy approved by shareholders at the Annual
General Meeting held on 23 January 2017. The vesting price per ordinary share was 92.8 pence.

The ordinary shares were issued to participants for nil consideration and for certain individuals, a number of
shares were settled by the Company in cash to meet tax and national insurance liabilities. The number of new
ordinary shares in RDI issued to each executive Director or other Persons Discharging Managerial
Responsibility (“PDMR”) (the “New Shares”) is set out below:

Director/PDMR                40p Ordinary Shares           Number of    New Shares issued
                                          vested    Shares settled in       on 2 Dec 2020
                                                                 cash
Mike Watters                             115,827                    -             115,827
Stephen Oakenfull                         82,383               37,072              45,311
Adrian Horsburgh                          74,977                    -              74,977
Donald Grant                              69,678               31,355              38,323
Total                                    342,865               68,427             274,438

Vesting of 2019 LTIP Awards

As announced on 5 November 2020, Mike Watters will be stepping down from the Board in December 2020.
The Remuneration Committee, at their discretion, has determined that 14,700 shares will become vested award
shares under the 2019 LTIP award (the “LTIP Shares”). These shares will be issued for nil consideration
and will be awarded in December 2022 in accordance with the terms of the Remuneration Policy approved by
shareholders at the January 2020 AGM.

Executive Director / PDMR Interests

Following the issue of the New Shares, the interests in RDI shares of the executive Directors or PDMR are as
follows:

Director/PDMR                  Total holding after the                           % of issued
                                  issue of New Shares                          share capital
Mike Watters                                1,561,956                                   0.41
Stephen Oakenfull                             207,282                                   0.05
Adrian Horsburgh                              149,475                                   0.04
Donald Grant                                   84,839                                   0.02
Total                                       2,003,552                                   0.52
Total Voting Rights

An application has been made for the admission of 274,438 New Shares to the Premium Segment of the
Official List and to trading on the London Stock Exchange's main market for listed securities, (“Admission”).
Admission is expected to take place at 8.00 a.m. (UK time) on 2 December 2020. The New Ordinary Shares
will be listed on the Main Board of the JSE with effect from 9.00 a.m. on 2 December 2020 (South African
time).

Following Admission, the total number of voting rights will be 380,590,061. No ordinary shares are held in
treasury. The figure of 380,590,061 ordinary shares in the Company may be used by shareholders as the
denominator for the calculations by which they will determine if they are required to notify their interest in,
or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

For further information:

RDI REIT P.L.C.
Stephen Oakenfull, Donald Grant                               Tel: +44 (0) 20 7811 0100

FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey,                                Tel: +44 (0) 20 3727 1000
rdireit@fticonsulting.com

Instinctif Partners
SA Public Relations Adviser
Frederic Cornet                                                Tel: +27 (0) 11 447 3030
RDI@instinctif.com

JSE Sponsor
Java Capital                                                  Tel: + 27 (0) 11 722 3050

1 December 2020

Note to editors:

About RDI

RDI is an income focused UK Real Estate Investment Trust (UK-REIT) with a diversified portfolio invested
principally in the UK. The investment approach is driven by an in depth understanding of occupational demand
including the impact of technology, transport and infrastructure investment. The portfolio has been
repositioned in recent years to increase its weighting to London and the South East and to provide greater
exposure to our leading hotel and serviced office operating platforms.

RDI is committed to delivering attractive income led total returns across the real estate cycle. The current
strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at
delivering an industry leading and sustainable income return.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company
is included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

Date: 01-12-2020 09:05:00
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