Director/PDMR Shareholding

RNS Number : 0038Q

British Land Co PLC

23 June 2022

 

The British Land Company plc (the "Company")

Discretionary Share Award Vesting & SAYE Grant

On 20 June 2022 conditional awards of Ordinary Shares of 25 pence each in the Company, that were granted on 19 June 2019 under the Company's Restricted Share Plan, vested. Subsequent sales that were made by Persons Discharging Managerial Responsibilities ("PDMRs") upon the awards vesting are detailed below. The awards were not subject to performance conditions.

Name of PDMR	Number of shares that vested	Number of shares sold
Emma Cariaga	20,322	20,322
Kelly Cleveland	13,935	6,738
Sally Jones	31,270	31,270
David Lockyer	20,322	20,322
Roger Madelin	23,257	23,257
Brona McKeown	22,801	11,024
Darren Richards	31,270	15,119
David Walker	18,580	8,984
Nigel Webb	24,420	11,807

Also on 20 June 2022, Bhavesh Mistry, Chief Financial Officer, sold 66,100 ordinary shares of 25 pence each. This followed the vesting of 136,720 performance shares comprising three separate awards granted to Bhavesh on 19 July 2021 under the Company's Long Term Incentive Plan to replace pre-existing awards that he forfeited in order to join the Company. Two of the awards of 9,403 shares and 19,612 shares respectively did not have performance conditions attached and vested in full. The third award of 124,948 shares was subject to performance conditions mirroring those of his previous employer, of which 107,705 shares representing 86.2% of the original award, vested.

Bhavesh sold 66,100 shares to settle tax and national insurance and associated dealing fees arising on the vesting and retained the balance of 70,620 shares which he must continue to hold for at least two years in accordance with the terms of the grant.

On 22 June 2022 options over Ordinary shares of 25 pence each in the Company were granted to PDMRs under the Company's SAYE Option Scheme as detailed in the table below.

	Options granted	Option price (pence)	SAYE contract commences	Option exercise period commences
Simon Carter	4,275	421	1 September 2022	1 September 2025
Brona McKeown	4,275	421	1 September 2022	1 September 2025
Kelly Cleveland	2,137	421	1 September 2022	1 September 2025
David Walker	2,137	421	1 September 2022	1 September 2025
Bhavesh Mistry	4,275	421	1 September 2022	1 September 2025
Emma Cariaga	1,282	421	1 September 2022	1 September 2025

The permitted exercise period for SAYE options is six months, commencing on the dates listed above. No consideration was paid for the grant of these options.

This disclosure is made in accordance with the UK Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	1.  Emma Cariaga 2.  Kelly Cleveland 3.  Sally Jones 4.  David Lockyer 5.  Roger Madelin 6.  Brona McKeown 7.  Darren Richards 8.  David Walker 9.  Nigel Webb
2	Reason for the notification
a)	Position/status	1.  PDMR - Executive Committee member 2.  PDMR - Executive Committee member 3.  PDMR - Executive Committee member 4.  PDMR - Executive Committee member 5.  PDMR - Executive Committee member 6.  PDMR - Executive Committee member 7.  PDMR - Executive Committee member 8.  PDMR - Executive Committee member 9.  PDMR - Executive Committee member
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The British Land Company PLC
b)	LEI	RV5B68J2GV3QGMRPW209
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of financial instrument, type of financial instrument Identification code	Ordinary shares of 25 pence each GB0001367019
b)	Nature of the transaction	Sale of ordinary shares 25 pence each upon the vesting of conditional share awards made under the Company's Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) (pence) Volume(s) 1.  504 2.  504 3.  504 4.  504 5.  504 6.  504 7.  504 8.  504 9.  504 1.  20,322 2.  6,738 3.  31,270 4.  20,322 5.  23,257 6.  11,024 7.  15,119 8.  8,984 9.  11,807
d)	Aggregated information -  Aggregated volume -  Price	N/A (single transaction)
e)	Date of the transaction	2022-06-20
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Bhavesh Mistry
2	Reason for the notification
a)	Position/status	PDMR - Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The British Land Company PLC
b)	LEI	RV5B68J2GV3QGMRPW209
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of financial instrument, type of financial instrument Identification code	Ordinary shares of 25 pence each GB0001367019
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 504 66,100
d)	Aggregated information -  Aggregated volume -  Price	N/A (single transaction)
e)	Date of the transaction	2022-06-20
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	1.  Simon Carter 2.  Brona McKeown 3.  Kelly Cleveland 4.  David Walker 5.  Bhavesh Mistry 6.  Emma Cariaga
2	Reason for the notification
a)	Position/status	1.  PDMR - Chief Executive Officer 2.  PDMR - Executive Committee member 3.  PDMR - Executive Committee member 4.  PDMR - Executive Committee member 5.  PDMR - Chief Financial Officer 6.  PDMR - Executive Committee member
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer; emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	The British Land Company PLC
b)	LEI	RV5B68J2GV3QGMRPW209
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of financial instrument, type of financial instrument Identification code	Ordinary shares of 25 pence each GB0001367019
b)	Nature of the transaction	Grant of options under the Save As You Earn Option Scheme
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.  Nil 2.  Nil 3.  Nil 4.  Nil 5.  Nil 6.  Nil 1.  4,275 2.  4,275 3.  2,137 4.  2,137 5.  4,275 6.  1,282
d)	Aggregated information -  Aggregated volume -  Price	N/A (single transaction)
e)	Date of the transaction	2022-06-22
f)	Place of the transaction	Outside a trading venue

 

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