Business
PSAs, Issue of Equity & Director/PDMR Dealings
PSAs, Issue of Equity & Director/PDMR Dealings.
About this update from Duke Capital Limited
[{"type":"text","content":"\n \n \n 14 October 2022\n \n \n \n \n \n \n \n \n Duke Royalty Limited\n \n \n \n (\"Duke Royalty\", \"Duke\" or the \"Company\")\n \n \n \n Performance Share Awards (\"PSAs\")\n \n \n \n \n Issue of Equity\n \n \n \n \n Director/PDMR Dealings\n \n \n \n \n \n \n \n New grant under LTIP \n \n \n \n \n \n \n \n \n \n Duke Royalty Limited (AIM: DUKE), a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, announces that the Company's Remuneration Committee has approved the grant of a total of 3,954,700 conditional rights to acquire ordinary shares of no par value (PSAs) under the Company's Long-Term Incentive Plan (\"LTIP\"). The LTIP framework was detailed within the Company's Admission Document which was published on 20 March 2017 and was put into place post Admission.\n \n \n \n \n \n PSAs for the financial year to 31 March 2022 have been granted are as follows:\n \n \n \n \n \n \n \n \n \n Neil Johnson\n \n \n \n \n 1,411,800\n \n \n \n \n \n \n Charlie Cannon Brookes\n \n \n \n \n 1,270,600\n \n \n \n \n \n \n Other employees (non-PDMRs)\n \n \n \n \n 1,272,300\n \n \n \n \n \n \n \n Total\n \n \n \n \n \n \n 3,954,700\n \n \n \n \n \n \n \n \n \n \n The PSAs vest after a period of three years and are subject to various performance conditions outlined in the Company's admission document (and available on the Company's website) and set by the Remuneration Committee, all in accordance with the LTIP rules. The PSAs will be subject to performance conditions, (50 per cent. based on growth in total shareholder return (\"TSR\") and 50 per cent. on growth in total cash available for distribution per share (\"TCAD per Share\")). TSR can be defined as the returns generated by shareholders based on the combined value of the dividends paid out by the Company and the share price performance over the period in question.\n \n \n \n \n \n \n Vesting of 2019 PSAs, transfer from EBT & Director/PDMR interests\n \n \n \n \n \n \n The Company also announces that a total of 1,799,688 PSAs, previously granted under the Company's LTIP in relation to the financial year ended 31 March 2019, have vested, representing 75% of the PSAs granted at that time.\n \n \n \n \n \n Following the various transaction...