THE UNITE GROUP PLC (THE "COMPANY")
08 April 2025
GRANT OF OPTIONS AND DIRECTORS' INTERESTS
Pursuant to the long term incentive plan of the Company, awards have been granted to the Company's Executive Directors, namely Mr Joe Lister (Chief Executive Officer) and Mr Michael Burt (Chief Financial Officer) on 7 April 2025 as follows:
| Director | Nil cost options |
| Joe Lister | 150,806 |
| Michael Burt | 103,030 |
The number of Nil Cost options granted was based on a price of 825.0p per share, being the closing mid-market price on the day prior to the date of grant. The number of shares in respect of which Messrs Lister and Burt may exercise these options will be determined following the three-year measurement period ending 31 December 2027.
The number of awards vesting will be determined by reference to performance conditions comprising: EPRA adjusted earnings per share ('EPS'), relative total accounting return, relative total shareholder return and operational energy intensity. The only change relative to the 2024 LTIP grant is the removal of EPC ratings, with the weighting evenly reassigned across the other four measures. This change reflects the Group's strong performance in achieving A-C EPC ratings across its portfolio and the 100% stretch target for the 2024 LTIP award. A two-year holding period applies to these options, such that options vesting may only be exercised from 7 April 2030, the fifth anniversary of the date of grant.
Performance targets for each element have been disclosed prospectively in the 2024 Directors' Remuneration Report ('DRR'). The Remuneration Committee considers that these targets are appropriate and stretching, taking into account the Company's strategic priorities and the broader macroeconomic environment, and having reviewed a range of relevant internal and external reference points.
This notification is made in accordance with the requirements of the Market Abuse Regulation.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Joe Lister | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Executive Officer
| ||||
| b)
| Initial notification /Amendment
| Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| The Unite Group plc | ||||
| b)
| LEI
| 213800BBUUWVDH9YI827 | ||||
| 4
| 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 | |||||
| a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
GB0006928617 | ||||
| b)
| Nature of the transaction | Grant of LTIP options
| ||||
|
c)
|
Price(s) and volume(s) |
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price |
As above
Nil
| ||||
| e)
| Date of the transaction
| 7 April 2025 | ||||
| f)
| Place of the transaction
| London Stock Exchange | ||||
|
1
|
Details of the person discharging managerial responsibilities / person closely associated | |||||
| a)
| Name
| Michael Burt
| ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Financial Officer | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| The Unite Group plc | ||||
| b)
| LEI
| 213800BBUUWVDH9YI827 | ||||
| 4
| 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
| |||||
| a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 25p each
GB0006928617
| ||||
| b)
| Nature of the transaction | Grant of LTIP options | ||||
|
c)
|
Price(s) and volume(s) |
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
As above
Nil | ||||
| e)
| Date of the transaction
| 7 April 2025 | ||||
| f)
| Place of the transaction
| London Stock Exchange | ||||
For further information, please contact:
| Unite Students Christopher Szpojnarowicz, Company Secretary
|
Tel: +44 117 302 7120 |
END
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