On 25 April 2019 Richard Phillip Lowes, a director of the Company, was granted an award over 351,122 Ordinary Shares in the Company pursuant to the Rules of the Performance Share Plan 2012 in the form of nil cost options (i.e. no exercise price is payable when the options are exercised). The value of the award was calculated by reference to the average of the Hansteen closing share price for the five business days ending on 24 April 2019, being 91.82 pence.
The award will vest no earlier than 25 April 2022 subject to achievement of performance conditions measured over a three year performance period. 50% of the award will vest by reference to the Company's Total Shareholder Return performance and 50% by reference to growth in the Company's EPRA Net Asset Value per share relative, in each case, to a comparator group comprising a peer group of companies in the property sector over the performance period.
To the extent that the award vests, the nil cost options will be exercisable in three equal annual tranches over a two year period, the first tranche being exercisable no earlier than 25 April 2022.
The Notification of Dealing Form set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Hansteen Holdings PLC
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
Description of the financial instrument, type of instrument
Ordinary shares of £0.10 each in the capital of Hansteen Holdings PLC
Nature of transaction
Grant of options over Ordinary Shares pursuant to Hansteen Holdings PLC Performance Share Plan 2012
Price(s) and volume(s)
- Aggregated volume
Date of the transaction
25 April 2019
Place of the transaction
London Stock Exchange
For further information:
Link Company Matters Limited
Tel: 020 7954 9685
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