Director/PDMR Shareholding

RNS Number : 8722D

British Land Co PLC

22 May 2012

 



Director / PDMR Shareholding

Matching Share Plan ("MSP") - Vesting

The Company announces that on 21 May 2012 Matching Shares awarded to Chris Grigg and Tim Roberts, Directors of the Company, and to Nigel Webb, a Person Discharging Managerial Responsibilities ('PDMR'), on 21 May 2009, vested on full satisfaction of the MSP's Total Shareholder Return Performance Test as detailed in the table below. At the same time Matching Shares awarded to these Directors and PDMR lapsed entirely as the MSP's Earnings Per Share Performance Test was not met, also detailed in the table below.

Under the terms of the MSP, Bonus Shares that had been purchased on 21 May 2009 using the individuals' retained bonuses, and held according to the terms of the MSP, were also released.   

	Bonus Shares released	Matching Shares Vesting subject to TSR Test	Matching Shares Lapsing subject to EPS Test
DIRECTOR
Chris Grigg	8,998	14,633	14,633
Tim Roberts	15,602	25,373	25,373
PDMR
Nigel Webb	6,039	9,821	9,821

Of the above shares that were released or vested, Chris Grigg sold 7,636, Tim Roberts sold 13,241 and Nigel Webb sold 5,125 to satisfy their respective withholdings of Income Tax and NIC under the PAYE regulations, all at a price of 499.5p per share. All the remaining shares have all been retained by the individuals.

 

END

 

 

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