Intu Properties plc: Additional Listing
22 May 2013
INTU PROPERTIES PLC (the "Company")
ISSUE OF SHARES AND DIRECTOR AND PDMR SHAREHOLDING
An application has been made to the UK Listing Authority, the London Stock Exchange and the Johannesburg Stock Exchange for 1,721,664 ordinary shares of 50 pence each (the "New Shares"), allotted to the Trustee of the Company's Employee Share Ownership Plan (the "Trustee") in connection with the Company's Performance Share Plan ("PSP)), to be admitted to the Official List. The New Shares will be held in trust and will be used to satisfy the future vesting of awards under the terms of the PSP which was approved by shareholders at the Company's Annual General Meeting on 8 May 2013.
It is expected that permission to admit the New Shares will be granted on 24 May 2013 and that dealings will commence on 28 May 2013. The New Shares will rank pari passu in all respects with the Company's existing issued ordinary shares.
Under the terms of the PSP, all participants may be invited to participate in the Joint Share Ownership Plan ("JSOP") which forms part of the PSP and offers a tax efficient alternative to holding awards under the PSP in return for an upfront, non-refundable tax charge incurred by the participant. The JSOP is structured in a manner acceptable to the ABI and RREV. Under the JSOP shares are held jointly by the employee and the Trustee with any increases in the share price being allocated between the joint owners in accordance with the terms of the JSOP. Conditions for vesting (including satisfaction of performance conditions), forfeiture and lapse are in accordance with the rules of the PSP.
Set out below are details of awards of nil-cost options under the PSP made to Executive Directors and PDMRs on 21 May 2013 on the basis of a market price of £3.57. The table also shows the Executive Directors and PDMRs who have elected to receive their PSP awards under the JSOP.
Directors: No. of Exercisable Joint
nil-cost from* Ownership options election
David Fischel 572,982 21 May 2016 Yes
Matthew Roberts 440,754 21 May 2016 Yes
Mike Butterworth 338,235 21 May 2016 Yes
Martin Ellis 126,048 21 May 2016 No
Hugh Ford 181,848 21 May 2016 Yes
Susan Marsden 61,797 21 May 2016 Yes
Trevor Pereira 126,048 21 May 2016 Yes
Peter Weir 65,433 21 May 2016 No
* Awards vest in accordance with the rules of the PSP and subject to the satisfaction of the performance conditions set out in the Company's Notice of 2013 Annual General Meeting which can be downloaded from our website: www.intugroup.co.uk/investors/shareholders-bondholders/annual-general-meeting/
Susan Marsden Company Secretary Intu Properties plc +44 (0)20 7887 7073
-0- May/22/2013 14:45 GMT