Long-Term Incentive Plan (“LTIP”) grant

Long-Term Incentive Plan ("LTIP") grant

Hibernia REIT plc (the "Company") announces that on 29 July 2020 conditional awards of the Company's ordinary shares of €0.10 cent each ("LTIP Shares") under the LTIP were granted to Executive Directors and other Persons Discharging Managerial Responsibilities ("PDMRs") as outlined below. 

The above LTIP Shares vest after three years, subject to the following performance conditions: Relative Total Shareholder Return, Relative Total Property Return and Total Accounting Return per share. Details of the performance targets will be set out in full in the Company's Remuneration Committee Report for the year ending 31 March 2021.

The Remuneration Committee retains the discretion to make adjustments to the vesting if it considers that the formulaic outcomes resulting from the application of the performance conditions are not a fair and accurate reflection of Group or individual performance.  This includes consideration of any windfall gains resulting from share price volatility due to the timing of the 2020 LTIP grant.

These transactions took place outside of a trading venue.

This notification is made in accordance with the requirements of the EU Market Abuse Regulation.  The identification code for the Company's ordinary shares of €0.10 cent each is IE00BGHQ1986 and the LEI code for the Company is 635400MHRA4QVVFTON18.

ENDS

Contacts:

Hibernia REIT plc +353 1 536 9100

Tom Edwards-Moss, Chief Financial Officer

Sean O'Dwyer, Company Secretary

Murray Consultants

Doug Keatinge: +353 86 037 4163, dkeatinge@murraygroup.ie

Andrew Smith: +353 83 076 5717, asmith@murraygroup.ie 

About Hibernia REIT plc

Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT"), listed on Euronext Dublin and the London Stock Exchange.  Hibernia owns and develops property and specialises in Dublin city centre offices.