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Belvoir Group PLC

Belvoir Lettings PLC - Notification of Transactions of PDMR

RNS Number : 2447E
Belvoir Lettings PLC
08 February 2018
 

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 inside information is now considered to be in the public domain.

 

 

8 February 2018

BELVOIR!
             

BELVOIR LETTINGS PLC

(the "Company", the "Group" or "Belvoir")

 

Notification of Transactions of Persons Discharging Managerial Responsibilities

 

Belvoir Lettings plc today announces that it has granted options over new ordinary shares in the Company to Mark Newton, a Director of Belvoir, under the Belvoir Lettings Performance Share Plan.  The award reflects his role in managing the operation of Newton Fallowell Limited ('Newton Fallowell') and Brook Financial Services Limited ('Brook').

 

The award will be subject to the combined EBITDA performance of Newton Fallowell, Brook and any future relevant acquisition.  A floor of £1.8m and a cap of £2.25m applies to the EBITDA Performance Condition (as adjusted for any future relevant acquisitions), vesting until 31 December 2020.

 

The maximum award is stated below:

 

Name                             Position                                   Number of shares

                                                                                        subject to award

Mark Newton                   Director                                    144,000

 

Immediately prior to this award the Company's issued share capital was 34,938,606 ordinary shares and there were outstanding options of 2,172,440.

 

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Mark Newton

 

2

Reason for notification

 

 

 

a.

Position/Status

Director

 

b.

Initial notification/

Amendment

Initial Notification

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Belvoir Lettings PLC

 

b.

LEI

N/A

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a.

Description of the financial instrument, type of instrument

Identification Code

Ordinary Shares of 1 pence each

 

 

 

ISIN: GB00B4QY1P51

 

b.

Nature of the transaction

Grant of nil cost options

 

c.

Price(s) and volume(s)

Over Company's shares 

 

Price

1 pence each

Volume

144,000

d.

Aggregated information

- Aggregated Volume

 

- Price



n/a

 

n/a

 

e.

Date of the transaction

08 February 2018

 

f.

Place of the transaction

London Stock Exchange

 

 

 

For further details:

 

Belvoir Lettings PLC

Dorian Gonsalves, Chief Executive Officer

Louise George, Chief Financial Officer

 

 

01476 584900

investorrelations@belvoirlettings.com

Cantor Fitzgerald Europe

Rick Thompson, Phil Davies, William Goode
Corporate Finance

 

020 7894 7000

 

Buchanan

Charles Ryland, Victoria Hayns, Madeleine Seacombe

 

0207 466 5000

 

 

 

 

About Belvoir Lettings PLC

 

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with over 300 offices across four brands offering a range of specialist services in property rental, property management, residential lettings, buy to let and property sales. With its Central Office in Grantham, Lincolnshire, the Group manages 56,000 properties and reported revenue of £9.9m in 2016 making Belvoir the largest property franchise group in the UK.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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