Wrap Text
Grant of contingent awards under share plans
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
GRANT OF CONTINGENT AWARDS UNDER SHARE PLANS
RDI, the income focused UK Real Estate Investment Trust (“UK-REIT”), announces in accordance with Article
19(3) of the Market Abuse Regulation, the following share awards.
Awards under the long term performance share plan
Contingent share awards have been granted to the executive Directors or other Persons Discharging Managerial
Responsibility (“PDMR”) under the RDI Long Term Performance Share Plan which was approved by shareholders
in November 2013 and forms part of the Company’s Remuneration Policy, which was approved by shareholders
at the Annual General Meeting held on 23 January 2020 (the "PSP").
Each of the following executive Directors or PDMR has, on 1 December 2020, been granted contingent share
awards under the terms of the PSP over the number of ordinary shares in RDI set out below:
Director/PDMR Number of shares Total number of shares held as
granted under the awards under the PSP following
PSP grant
Mike Watters 743,372 1,827,137
Stephen Oakenfull 528,663 1,299,427
Adrian Horsburgh 481,221 1,182,760
Donald Grant 447,035 1,098,947
Subject to continued employment and the satisfaction of performance targets as set out in the Company’s Annual
Report, the awards will vest three years from date of grant, and thereafter will be subject to an additional two year
holding period. All vested shares must be retained, net of tax, until the executive Director or PDMR has
accumulated a shareholding in the Company equivalent to two times base salary as part of the minimum
shareholding requirements.
The figures above reflect the maximum number of ordinary shares which could vest. The actual number which will
vest will depend on the extent to which the performance targets are satisfied over the performance period. No
consideration was paid for any of the awards and no consideration is due on vesting.
Awards under the Short-Term Incentive Plan
Deferred bonus share awards have been granted to the executive Directors and PDMR under the short-term
incentive plan, which forms part of the Company’s Remuneration Policy approved by shareholders at the Annual
General Meeting held on 23 January 2020 ("STIP").
Each of the following executive Directors or PDMR has, on 1 December 2020, been awarded deferred bonus shares
in the Company under the terms of the STIP, as set out below:
Director/PDMR Number of deferred Total number of shares held as
shares granted under the awards under the STIP following
STIP grant
Mike Watters 41,908 92,552
Stephen Oakenfull 33,332 72,883
Adrian Horsburgh 28,676 65,440
Donald Grant 26,637 57,886
Under the STIP, executive Directors or PDMRs may receive a bonus of up to 150 per cent of their salary, subject
to the achievement of certain performance targets. 40 per cent of such award is made in shares, deferred for two
years. The awards will vest two years from date of grant, subject only to continuous employment or good leaver
status, and will be subject to the minimum shareholding requirements.
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 09:06:00
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