Primary Health Properties PLC (PHP), the specialist UK healthcare real estate investment trust listed on the London Stock Exchange with a secondary listing on the JSE Limited, has disclosed that Chief Financial Officer Richard Howell exercised SaveAs-You-Earn (SAYE) share options on 30 October 2026, acquiring 22,233 ordinary shares at £0.8096 per share. The transaction has been filed with the Financial Conduct Authority in accordance with Article 19(1) of the Market Abuse Regulation as an initial notification. Director and PDMR share dealings are closely watched by investors as indicators of insider sentiment towards a company's prospects.

Key Points

  • Primary Health Properties PLC (PHP) — London Stock Exchange primary listing, JSE Limited secondary listing
  • CFO Richard Howell exercised SAYE options granted in 2023, acquiring 22,233 ordinary shares at £0.8096 each on 30 October 2026
  • The shares carry an ISIN of GB00BYRJ5J14 and a nominal value of 12.5p per ordinary share
  • Investors may be watching whether further PDMR transactions follow, given the options were originally granted under an all-employee ShareSave scheme in 2023

Richard Howell Exercises 2023 SAYE Grant at £0.8096 Per Share

The announcement confirms that Richard Howell, who serves as Chief Financial Officer of Primary Health Properties PLC, exercised share options originally granted in 2023 under the company's all-employee ShareSave scheme. The exercise price was £0.8096 per share, and the volume acquired totalled 22,233 ordinary shares of 12.5p nominal value each. The transaction took place on 30 October 2026 outside of a trading venue, as is standard for option exercises of this nature. The notification was filed with the FCA as an initial disclosure under the Market Abuse Regulation.

PHP's Healthcare Property Portfolio and Dual Stock Exchange Presence

Primary Health Properties PLC is a real estate investment trust focused on modern primary healthcare facilities, principally GP surgeries and primary care centres predominantly located across the United Kingdom and Ireland. The company holds a primary listing on the London Stock Exchange and a secondary listing on the JSE Limited in South Africa, reflecting its broader investor base. PHP's revenue model centres on long-term, inflation-linked leases with NHS-backed tenants, a structure that has historically underpinned reliable income distributions for shareholders. The company's LEI is 213800Y5CJHXOATK7X11.

Regulatory Disclosure Obligations Under Market Abuse Regulation Article 19(1)

Under Article 19(1) of the Market Abuse Regulation, persons discharging managerial responsibilities — such as a chief financial officer — are required to notify both the company and the relevant regulator of transactions in the issuer's financial instruments. Primary Health Properties PLC duly filed this initial notification following Howell's share acquisition. The disclosure mechanism is designed to maintain market transparency and ensure that investors have timely access to information regarding PDMR dealings. No amendment to this notification has been indicated in the announcement.