Director/PDMR Shareholding

RNS Number : 2886T

British Land Co PLC

02 July 2018

 

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 29 June 2018 of the MSP Matching Share awards granted on 29 June 2015 to Chris Grigg, Charles Maudsley and Tim Roberts, Executive Directors of the Company, and to Nigel Webb, Joff Sharpe and Sally Jones, 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 29 June 2015 using proportions of their retained Annual Incentive awards were released on 29 June 2018.

	Bonus Shares Released	Matching Shares Vesting
Chris Grigg	25,124	47,174
Charles Maudsley	11,777	22,113
Tim Roberts	12,431	23,341
Nigel Webb	5,888	11,056
Joff Sharpe	5,452	10,237
Sally Jones	2,617	4,914

Following the vesting Chris Grigg sold 22,217 shares and Nigel Webb sold 5,207 shares to cover their respective tax liabilities. Charles Maudsley sold all 33,890 shares, Tim Roberts sold all 35,772 shares, Joff Sharpe sold all 15,689 shares and Sally Jones sold all 7,531 shares. 

All share sales were at a price of £6.706768 per share.  

Chris Grigg transferred 25,041 shares to his wife, Fionna Grigg and Nigel Webb transferred 11,737 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 Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.

Enquiries: Company Secretariat, British Land

020 7486 4466

 

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