Business
Q1 2022 Dividend Declaration and LTIP Awards
Q1 2022 Dividend Declaration and LTIP Awards.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n \n \n \n Real Estate Investors Plc\n \n \n (\"REI\" or the \"Company\")\n \n \n \n \n \n Q1 2022 Dividend Declaration / Grant and Vesting of LTIP Awards\n \n \n \n \n \n Real Estate Investors Plc (AIM:RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT), with a portfolio of 1.5 million sq ft of commercial property across all sectors, is pleased to announce that in accordance with its progressive dividend policy, REI will pay a fully covered Q1 2022 dividend of 0.8125 pence per share for the period 1 April 2022 to 30 June 2022 (Q1 2021: 0.75 pence per share). The payment will be made on 22 July 2022 to all shareholders on the register as at 1 July 2022. The ex-dividend date will be 30 June 2022. This dividend will be a Property Income Distribution (PID).\n \n \n \n \n \n The Company also announces that on 20 June 2022 it granted annual awards to two Directors and other employees under the Real Estate Investors Plc Senior Executives Long Term Incentive Plan adopted in 2021. The awards under the Plan give rights to certain Directors to acquire a total of 1,810,127 ordinary shares of 10p each in the Company (\"Ordinary Shares\") as detailed below at a price of 1p per share (in the case of an issue of new Ordinary Shares) or nil (in the case of a transfer of existing Ordinary Shares). The vesting of 50% of the award is subject to a performance condition based on total shareholder return, with 50% subject to a performance condition based on net asset value per share growth including dividends paid. The performance conditions will be measured over the three years up to the vesting date with full vesting if 12% levels of annual return/growth are achieved.\n \n \n \n \n \n \n \n \n \n Award Holder\n \n \n \n \n Number of Ordinary\n \n \n Shares under Award\n \n \n \n \n Expected Vesting Date\n \n \n \n \n \n \n Paul Bassi\n \n \n \n \n 1,113,924\n \n \n \n \n April 2025\n \n \n \n \n \n \n Marcus Daly\n \n \n \n \n 696,203\n \n \n \n \n April 2025\n \n \n \n \n \n \n \n \n \n In addition, share awards made on 25 March 2019 to directors of the Company vested yesterday at 25.9% (based on performance conditions) in the following amounts: Paul Bassi (Chief Executive) 219,492 ordinary shares; and Marcus Daly (Finance Director) 137,183 ordin...