Business
Long Term Incentive Plan
Long Term Incentive Plan.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n RNS Number : 7130X Real Estate Investors PLC 10 December 2010 \n \n\n10 December 2010\n \nReal Estate Investors plc\n(\"REI\" or \"the Company\" or \"the Group\")\n \nIMPLEMENTATION OF LONG TERM INCENTIVE PLAN\n \nReal Estate Investors plc (AIM:RLE), the West Midlands based property group, announces that it is has now implemented the executive long term incentive plan (the \"Scheme\") that was approved by shareholders on 28 June 2010. Details regarding the Scheme were set out the Company's 2009 annual report. \n \nAs a result of the implementation of the Scheme, on 3 December 2010, the Company granted each of Paul Bassi and Marcus Daly an option under the Scheme (\"Option\") which entitles them to subscribe for or acquire ordinary shares in the Company (\"Ordinary Shares\") at a price of 1p per share (in the case of an issue of new Ordinary Shares) or 0p per share (in the case of a transfer of existing shares). The grant and exercise of the Options is subject to and conditional on the rules of the Scheme and cannot be exercised unless, inter alia, the relevant performance criteria (as set out in the Scheme rules) have been met. \n \nThe number of Ordinary Shares to be awarded under the Option will be determined at the relevant trigger date based on the net asset value performance of the Company and will be calculated with reference to the prevailing net asset value per share or the market price per share, whichever is the higher. The first trigger date is 1 January 2013 and subsequent trigger dates occur annually thereafter until 1 January 2020.\n \nEnquiries:\n \n\n\n\n\nReal Estate Investors PLC\nPaul Bassi\n \n\n\n+44 (0)121 265 6400\n\n\n\n\nSmith & Williamson Corporate Finance Limited\nAzhic Basirov / Siobhan Sergeant\n \n\n\n+44 (0)20 7131 4000\n\n\n\n\nLiberum Capital Limited\nChris Bowman / Richard Bootle\n \n\n\n+44 (0)20 3100 2000\n\n\n\n\n \n \nNotes to Editors\n \n1. REI is an AIM listed property investment company specialising in commercial and residential property principally in the West Midlands and central England\n \n2. REI is focused on delivering shareholder value through returns generated from strong yields and capital enhancements. This i...