Watkin Jones plc Director/PDMR Shareholding (5422P)
08 Februar 2019 - 3:45PM
UK Regulatory
TIDMWJG
RNS Number : 5422P
Watkin Jones plc
08 February 2019
For immediate release 8 February 2019
Watkin Jones plc
('Watkin Jones', the 'Group' or the 'Company')
Director/PDMR Shareholding
Watkin Jones plc (AIM:WJG), a leading UK developer and
constructor of multi-occupancy property assets, with a focus on the
student accommodation and build to rent sectors, announces that on
8 February 2019 the following nominal-cost share awards over
ordinary shares of 1p each in Watkin Jones plc ('Shares') were
granted under the Watkin Jones Recruitment Plan to Richard Simpson,
the Group's Chief Executive Officer.
In connection with Richard Simpson's appointment as a Director
of the Company, it was agreed that certain conditional Share awards
('Buyout Awards') would be made to him as compensation for unvested
incentives forfeited from his previous employer, Unite Group plc
('Unite'). The Buyout Awards have been approved by the Company's
Remuneration Committee as follows:
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations.
Buyout Award Number of Normal Vesting Vesting / Performance
Shares subject Date of Buyout Conditions
to Buyout Award
Award
2015 Buyout Award 92,480 2(nd) April
2019 * Continued employment with Watkin Jones only.
---------------- ---------------- -------------------------------------------------------------
2016 Buyout Award 434,764 23(rd) June
2019 * Continued employment with Watkin Jones; and
* Vesting based on vesting outcome of 2016 Unite LTIP
awards.
---------------- ---------------- -------------------------------------------------------------
2017 Buyout Award 438,765 10(th) April
2020 * Continued employment with Watkin Jones; and
* Vesting based on vesting outcome of 2017 Unite LTIP
awards.
---------------- ---------------- -------------------------------------------------------------
2018 Buyout Award 344,201 10(th) April
2021 * Continued employment with Watkin Jones; and
* Vesting subject to the same performance conditions as
the awards granted to other Watkin Jones senior
executives in May 2018 under the terms of the
Company's Long Term Incentive Plan.
---------------- ---------------- -------------------------------------------------------------
Each of the 2016, 2017 and 2018 Buyout Awards will also be
subject to a two year holding period. To the extent that each of
these awards vest, Richard Simpson will not be able to sell any
Shares resulting from exercise of the relevant award for a period
of two years from the vesting date, other than to fund the
resulting tax and NIC liabilities.
The Buyout Awards to Richard Simpson, under the Recruitment
Plan, constitute a related party transaction pursuant to Rule 13 of
the AIM Rules for Companies. The Directors who are independent of
the transaction, being the Directors save for Richard Simpson,
consider, having consulted with the Company's nominated adviser,
Peel Hunt LLP, the terms of the transaction to be fair and
reasonable insofar as the Company's shareholders are concerned.
- Ends -
For further information:
Watkin Jones plc
Richard Simpson, Chief Executive Tel: +44 (0) 1248 362 516
Officer
Phil Byrom, Chief Financial Officer www.watkinjonesplc.com
Peel Hunt LLP (Nominated Adviser & Joint Corporate Tel: +44 (0) 20 7418
Broker) 8900
Mike Bell / Justin Jones www.peelhunt.com
Jefferies Hoare Govett (Joint Corporate Broker) Tel: +44 (0) 20 7029
8000
Max Jones / Will Soutar www.jefferies.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Richard Oldworth Tel: +44 (0) 20 7466 5000
Jamie Hooper / Steph Watson
watkinjones@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Watkin Jones is a leading UK developer and constructor of
multi-occupancy residential property assets, with a focus on the
student accommodation and build to rent sectors. The Group has
strong relationships with institutional investors, and a good
reputation for successful, on-time-delivery of high quality
developments. Since 1999, Watkin Jones has delivered 38,000 student
beds across 117 sites, making it a key player and leader in the UK
purpose built student accommodation market. In addition, the Fresh
Property Group, the Group's specialist accommodation management
company, manages over 15,000 student beds and build to rent
apartments on behalf of its institutional clients. Watkin Jones has
also been responsible for over 80 residential developments, ranging
from starter homes to executive housing and apartments. The Group
is now expanding its operations into the build to rent sector.
The Group's competitive advantage lies in its experienced
management team and business model, which enables it to offer an
end-to-end solution for investors, delivered entirely in-house with
minimal reliance on third parties, across the entire life cycle of
an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with
the ticker WJG.L. For additional information please visit:
www.watkinjonesplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHSSEFLAFUSELE
(END) Dow Jones Newswires
February 08, 2019 09:45 ET (14:45 GMT)
Watkin Jones (LSE:WJG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Watkin Jones (LSE:WJG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024