Heriot REIT directors accept conditional share plan awards

Heriot REIT Limited announced that two of its executive directors, Richard Herring and Daniel Snoyman, have accepted awards under the company's Conditional Share Plan (CSP). These off-market awards, which include both retention and performance share components, are set to vest on 31 October 2028, subject to specific award conditions. The deemed price per security for these awards is 2101 cents, with the acceptance date recorded as 23 December 2025.

Richard Herring accepted 111,000 securities, comprising 88,800 performance share awards and 22,200 retention share awards, totaling a deemed rand value of R2,332,110. Daniel Snoyman accepted 156,250 securities, consisting of 125,000 performance share awards and 31,250 retention share awards, with a deemed rand value of R3,282,812.50. Both directors hold a direct, beneficial interest in these transactions.

The awards are conditional upon the employee remaining in good standing until 31 October 2028. Performance share awards are further subject to conditions measured over the financial years ending 30 June 2026, 2027, and 2028. These conditions include absolute growth in distributable income per share (65% weighting) and absolute total return per share (35% weighting) from 30 June 2025 to 30 June 2028.