Wrap Text
Director/PDMR Awards under the Performance Share Plan ("PSP")
INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: ITU
LEI: 213800JSNTERD5CJZO95
intu properties plc ("intu" or "the Company")
Director/PDMR Awards under the Performance Share Plan ("PSP")
Under the Company’s PSP, conditional awards of Ordinary Shares have been made to certain employees
including Executive Directors and PDMRs based on a market value of 106.17 pence per share on 8 April
2019. The awards comprise restricted shares which will vest, subject to the satisfaction of performance
conditions, in three equal tranches over three, four and five years. The performance periods for the
awards stretch from 1 January 2019 to 31 December 2021, 31 December 2022 and 31 December 2023
respectively.
Details of the PSP awards are as follows:
Executive Directors: PSP
Matthew Roberts 918,739
PDMRs:
Martin Breeden 273,410
Hugh Ford 428,189
Barbara Gibbes 177,639
Susan Marsden 159,103
Gordon McKinnon 111,217
Trevor Pereira 282,678
Dushyant Sangar 198,926
Julian Wilkinson 275,728
The Company noted in its 2018 Directors’ Remuneration Report that details of the PSP performance
conditions would be included in this announcement. They are as follows:
- 50% of the PSP award will vest subject to the satisfaction of an absolute “Share Return”
measure;
- The remaining 50% of the award will vest subject to the satisfaction of a Relative TSR
performance measure.
Share Return measure
Under the Share Return measure:
- Vesting shall be dependent upon absolute share price growth and dividends over the
applicable Performance Period
- This shall be calculated with reference to the average share price over the last three months
of the relevant Performance Period calculated by Bloomberg for each Dealing Day, with the
value of any dividends declared over the vesting period added to the end share price to
calculate the final Share Return.
- Shares subject to the Share Return measure shall vest as follows:
a) Performance Period ending 31 December 2021
Percentage of Shares subject to the Share
Share Return
Return Condition which shall vest
Equal to or higher than 180p 100%
Pro-rata between 25% and 100% based on
Between 150p and 180p
absolute share price of Company
Equal to 150p 25%
Below 150p 0%
b) Performance Period ending 31 December 2022
Percentage of Shares subject to the Share
Share Return
Return Condition which shall vest
Equal to or higher than 210p 100%
Pro-rata between 25% and 100% based on
Between 160p and 210p
absolute share price of Company
Equal to 160p 25%
Below 160p 0%
c) Performance Period ending 31 December 2023
Percentage of Shares subject to the Share
Share Return
Return Condition which shall vest
Equal to or higher than 240p 100%
Pro-rata between 25% and 100% based on
Between 175p and 240p
absolute share price of Company
Equal to 175p 25%
Below 175p 0%
Relative TSR measure
This measure compares the TSR of the Company's Ordinary Shares over the relevant three, four and five
year Performance Periods relative to the TSR over the same periods of the five largest FTSE-listed
REITs by market capitalisation on 1 January 2013 (British Land Company PLC, Derwent London plc,
Hammerson plc, Land Securities Group plc and SEGRO plc).
Shares subject to the Relative TSR Condition shall vest as follows:
Company TSR compared to the Comparator Percentage of Shares subject to the Relative
Group TSR Condition which shall vest
Equal to or higher than the first ranked company 100%
Equal to the second ranked company 60%
Equal to the third ranked company 25%
Below the third ranked company 0%
The percentage of Shares which shall vest if the Company’s TSR is between the first and second ranked
companies or the second and third ranked companies shall be determined on a straight-line basis
between the relevant percentages.
Holding periods
As noted in the 2018 Directors’ Remuneration Report, a two-year holding period will apply to the portion
of the PSP award vesting after three years, and a one-year holding period would apply for the portion
vesting after four years. This extends the time horizon for the entire award to five years, aligning
Executive Directors to the long-term success of the business. The holding period will apply for awards
granted in 2019 and onwards.
Susan Marsden
Company Secretary
9 April 2019
JSE Sponsor:
Merrill Lynch South Africa (Pty) Limited
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU
Market Abuse Regulation No 596/2014 and provides further detail.
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Matthew Roberts
b) Position/status CFO
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 918,739
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Martin Breeden
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 273,410
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Hugh Ford
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 428,189
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Barbara Gibbes
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 177,639
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Susan Marsden
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 159,103
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Gordon McKinnon
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 111,217
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Trevor Pereira
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 282,678
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Dushyant Sangar
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 198,926
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Julian Wilkinson
b) Position/status PDMR
c) Initial notification/ Initial Notification
amendment
2. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name intu properties plc
b) LEI 213800JSNTERD5CJZO95
3. 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 transaction(s) has been
conducted
a) Description of the ORDINARY SHARES OF 50P
financial instrument
ISIN: GB0006834344
b) Nature of the transaction Shares awarded for no consideration under the intu properties plc
performance share plan.
c) Price(s) and Price(s) Volume(s)
volume(s) GBP pence 275,728
106.17
d) Aggregated information
Aggregated volume Not applicable
Price
e) Date of the transaction 8 April 2019
f) Place of the transaction London Stock Exchange Main Market (XLON)
Date: 09/04/2019 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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