British Land Co PLC Director/PDMR Shareholding (9737J)
July 03 2017 - 10:57AM
UK Regulatory
TIDMBLND
RNS Number : 9737J
British Land Co PLC
03 July 2017
Matching Share Plan ("MSP") - Vesting
The British Land Company PLC (the "Company") announces that it
received notification from the Trustees of The British Land
Employee Share Trust of the partial vesting on 30 June 2017 of the
MSP Matching Share awards granted on 30 June 2014 to Chris Grigg,
Lucinda Bell, Charles Maudsley and Tim Roberts, Executive Directors
of the Company, and to Nigel Webb and Joff Sharpe, Persons
Discharging Managerial Responsibilities of the Company ("PDMR").
The Matching Share awards vested at 50% as the MSP's Gross Income
Growth performance test had been fully attained whereas the Total
Shareholder Return performance test had not been met.
In accordance with the terms of the MSP, the MSP Bonus Shares
that were purchased by the MSP participants on 30 June 2014 using
proportions of their retained Annual Incentive awards were released
on 30 June 2017.
Bonus Shares Matching Shares
Released Vesting
------------------ ------------- ----------------
Chris Grigg 27,028 50,883
------------------ ------------- ----------------
Lucinda Bell 11,637 21,908
------------------ ------------- ----------------
Charles Maudsley 12,638 23,792
------------------ ------------- ----------------
Tim Roberts 12,638 23,792
------------------ ------------- ----------------
Nigel Webb 6,406 12,061
------------------ ------------- ----------------
Joff Sharpe 4,504 8,480
------------------ ------------- ----------------
Following the vesting Chris Grigg sold 23,964 shares, Lucinda
Bell sold 10,318 shares, Charles Maudsley sold 11,205 shares, Tim
Roberts sold 11,205 shares and Nigel Webb sold 5,681 shares all at
a price of GBP6.011 per share, to cover their respective tax
liabilities. Joff Sharpe sold all 12,984 shares. All share sales
were at a price of GBP6.011 per share. Chris Grigg transferred
53,947 shares to his wife, Fionna Grigg; Lucinda Bell transferred
11,590 shares to her husband, Matthew Bell; Tim Roberts transferred
25,225 shares to his wife, Sarah Roberts; and Nigel Webb
transferred 12,786 shares to his wife, Philippa Webb.
The release of shares and transfers to spouses took place
outside a trading venue and the sale of shares took place in
London.
This notification is made in accordance with the requirements of
the EU Market Abuse Regulation. The Company's Legal Entity
Identifier Code is RV5B68J2GV3QGMRPW209. The Identification Code
for ordinary shares of 25 pence each in the Company is
GB0001367019.
Enquiries:
Bruce James
Company Secretariat,
British Land 020 7486 4466
This information is provided by RNS
The company news service from the London Stock Exchange
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