Group Remuneration Policy, Treasury Shares, TVR

About this update from Globalworth Real Estate Investments Limited

[{"type":"text","content":"\n \n \n \n RNS Number : 2287Q\n Globalworth Real Estate Inv Ltd\n 24 February 2021\n  \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.\n \n \n  \n \n \n 24 February 2021\n \n \n Globalworth Real Estate Investments Limited \n \n \n (\"Globalworth\" or the \"Company\")\n \n \n Group remuneration policy, Transfer of shares out of treasury, TVR\n \n \n  \n \n In accordance with the Group remuneration policy, and on the recommendation of the Remuneration Committee, the Board has approved the Annual Variable Fee proposal for Globalworth Investment Advisers Ltd (\"GIAL\"), a wholly-owned subsidiary of the Company, and the annual bonus proposal for senior Group employees for the year ended 31 December 2020. \n \n In connection with the above, the Company will transfer 73,666 ordinary shares of no par value (\"Ordinary Shares\") currently held in treasury to GIAL at a price of €6.9910 per share. These Ordinary Shares \n will vest in three equal annual instalments from the date of this transfer and will be subject to further conditions as per the Group remuneration policy. \n \n \n Once vested, the recipients of these shares will be \n GIAL's preference shareholders (including \n the Executive Director of the Company) \n and other employees. \n The Notification of Dealing in accordance with the requirements of MAR in relation to any transaction by a person discharging managerial responsibilities will be made when required.\n \n \n Also, further to the awards made under the Group remuneration policy for the year ended 31 December 2019, announced on 26 February 2020, the first tranche (of two annual tranches) of Ordinary Shares has now vested and has been transferred from GIAL to senior Group employees in accordance with the Group remuneration policy.  Of the total of 33,217 Ordinary Shares being transferred, 11,465 have been allocated to the Executive Director, Dimitris Raptis, and following this transfer, Mr Raptis will hold 751,319 Ordinary Shares, equivalent to 0.34 per cent of the issued Ordinary Share capital. The Notification of Dealing Form provided in accordance with the requirements o...

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