Sirius Real Estate announced that on Monday the 2nd of July, awards granted on the 9th of October 2015 (under the Sirius Real Estate Limited Long Term Incentive Plan 2015) vested in respect of a total of 29 094 000 ordinary shares of no par value in the company.
Part of the award held by Andrew Coombs takes the form of a “nil-cost option” in respect of 4 000 000 vested shares which can be acquired at any time up to the 2nd of July 2019 (or such later date as the Remuneration Committee determines up to the 2nd of July 2020), leaving a balance of 4 400,000 shares to be taken as detailed below.
19 094 000 shares are now due to be delivered to satisfy the awards, of which 4 290 000 shares have been withheld in partial settlement of certain participants’ tax liabilities arising in respect of the vesting. Accordingly, 14 804 000 ordinary shares will be issued to qualifying participants. The following shares have been acquired by PDMRs of the Company:
Following the issue of the new ordinary shares, the total number of voting rights in the company will be 1 006 133 614, the number of shares in treasury will be 574 892 and the total number of ordinary shares in issue (including those in treasury) will be 1 006 708 506.
Application will be made for the new ordinary shares to be admitted to trading on the main market of London Stock Exchange Plc, to be admitted to listing on the premium segment of the Official List of the UK Listing Authority and to a primary listing on the Main Board of the Johannesburg Stock Exchange. It is expected that admission of the new ordinary shares will take place at commencement of trade on both the LSE at 8am (BST) and on the JSE at 9am (SAST), on Monday 9 July 2018 or as soon as possible thereafter.