Director/PDMR Shareholding

RNS Number : 1472L

British Land Co PLC

01 July 2014

 



Matching Share Plan ("MSP") Purchase and Award

The Company announces that on 30 June 2014 it received notification from the Trustees of The British Land Employee Share Trust that, on 30 June 2014, it had purchased ordinary 25p shares in the Company on behalf of Chris Grigg, Lucinda Bell, Charles Maudsley and Tim Roberts, Directors of the Company, and Simon Carter, Joff Sharpe, Jean-Marc Vandevivere and Nigel Webb, Persons Discharging Managerial Responsibilities ("PDMRs"), at a price of 702.4p per share, to be held subject to the rules of the Company's Matching Share Plan ("MSP"), as shown in the table below.

Following this purchase, in accordance with the rules of the MSP, the above Directors and PDMRs were conditionally awarded a right to receive a number of ordinary 25p shares in the Company at nil consideration, as shown in the table below. These awards will conditionally vest on the third anniversary of grant, subject, inter alia, to achievement of the performance conditions and continued employment.

	MSP Shares Purchased	MSP Conditional Award
Directors
Chris Grigg	27,028	101,766
Lucinda Bell	11,637	43,816
Charles Maudsley	12,638	47,584
Tim Roberts	12,638	47,584
PDMRs
Simon Carter	5,505	20,730
Joff Sharpe	4,504	16,960
Jean-Marc Vandevivere	3,879	14,604
Nigel Webb	6,406	24,122

Long-Term Incentive Plan ("LTIP") Vesting

The Company also announces that on 30 June 2014 it received notification from the Trustees of The British Land Share Ownership Plan that, on 30 June 2014, the Long-Term Incentive Plan ("LTIP") Awards granted to Chris Grigg, Lucinda Bell, Charles Maudsley and Tim Roberts, Directors of the Company, and to Anthony Braine, Simon Carter, Jean-Marc Vandevivere and Nigel Webb, PDMRs, on 28 June 2011 vested on full satisfaction of the performance conditions.

	Vesting LTIP Awards
	Shares at nil consideration	Options at 575p per share
Directors
Chris Grigg	173,913	695,652
Lucinda Bell	147,826	-
Charles Maudsley	147,826	-
Tim Roberts	73,913	295,652
PDMRs
Anthony Braine	56,086	-
Simon Carter	2,608	10,434
Jean-Marc Vandevivere	-	234,782
Nigel Webb	13,043	-

Following the vesting, Chris Grigg sold 81,958 shares, Lucinda Bell sold 69,667 shares, Tim Roberts sold 34,841 shares and Simon Carter sold 1,231 shares, all at a price of 700p per share, to offset their respective tax liabilities. Charles Maudsley, Anthony Braine and Nigel Webb sold all their newly vested shares, all at a price of 700p per share.

 

END

 

 

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