Director/PDMR Shareholding

Great Portland Estates PLC
21 June 2024
 

21 June 2024

 

Great Portland Estates plc (the "Company")

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

The Company announces that, on 20 June 2024, to reflect the impact of the Company's 2024 rights issue, adjustments were made to the share awards and options granted to Directors under the Company's discretionary share plans by way of an increase in the number of Ordinary Shares of 15 5/19 pence each in the Company ("Shares") subject to the awards or options as set out below:

Adjustments to awards granted under the Company's Long Term Incentive Plan (LTIP), Restricted Share Plan (RSP) and Deferred Share Bonus Plan (DSBP) Awards

Director

Position/Status

Award/Option

Price(s)

Number of additional Shares

Toby Courtauld

Chief Executive

2019 LTIP (vested but unexercised option)

£Nil

3,850



2022 LTIP Award

£Nil

61,900



2023 RSP Award

£Nil

49,666



2022 DSBP Award

£Nil

6,728



2023 DSBP Award

£Nil

10,609

Nick Sanderson

Chief Financial & Operating Officer

2019 LTIP (vested but unexercised option)

£Nil

2,649



2022 LTIP Award

£Nil

42,587



2023 RSP Award

£Nil

34,171



2022 DSBP Award

£Nil

4,629



2023 DSBP Award

£Nil

7,383

Dan Nicholson

Executive Director

2022 LTIP Award

£Nil

34,692



2023 RSP Award

£Nil

27,836



2022 DSBP Award

£Nil

1,726



2023 DSBP Award

£Nil

5,809

 

The Company further announces that, on 21 June 2024, to reflect the impact of the Company's 2024 rights issue, the following Directors received additional Shares by way of an adjustment to their 2021 DSBP Awards that they exercised at the time of the rights issue (and which they were unable to exercise before the record date for participation in the 2024 rights issue), as set out below.   The Directors also sold the following number of Shares to meet income tax and National Insurance contributions liabilities arising on the receipt of the additional Shares at a price of 335.2515p per share:  

 

Director

Position/Status

Number of additional Shares

Number of Shares sold for tax/NIC purposes

Toby Courtauld

Chief Executive

2,557

1,210

Nick Sanderson

 

Chief Financial & Operating Officer

1,870

887

 

The Notification of Dealing Forms for each Director can be found below.  This announcement is made in accordance with the UK Market Abuse Regulation (Regulation (EU) 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018).

 

DSBP

1.

Details of PDMR/person closely associated with them ("PCA")

a)

Name

Toby Courtauld

2.

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor

a)

Name

Great Portland Estates plc

 

b)

Legal Entity Identifier

213800JMEDD2Q4N1MC42

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 the financial instrument

Ordinary shares of 15 5/19p

ISIN: GB00BF5H9P87

b)

Nature of the transaction

Award of further shares in respect of an option granted and exercised pursuant to The Great Portland Estates Deferred Share Bonus Plan to reflect the impact of the 2024 rights issue

 

c)

Price(s) and volume(s)

Price

Volume(s)

Ordinary shares

Nil consideration

2,557

d)

Aggregated information

Aggregated volume

Aggregated price

Aggregated total

Aggregated volume: 2,557

Aggregated price: Nil

Aggregated total: 2,557 ordinary shares

e)

Date of transaction

21 June 2024

f)

Place of the transaction

Outside of trading venue

 

 

1.

Details of PDMR/person closely associated with them ("PCA")

a)

Name

Nick Sanderson

2.

Reason for the notification

a)

Position/status

Chief Financial & Operating Officer

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor

a)

Name

Great Portland Estates plc

 

b)

Legal Entity Identifier

213800JMEDD2Q4N1MC42

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 the financial instrument

Ordinary shares of 15 5/19p

ISIN: GB00BF5H9P87

b)

Nature of the transaction

Award of further shares in respect of an option granted and exercised pursuant to The Great Portland Estates Deferred Share Bonus Plan to reflect the impact of the 2024 rights issue

 

c)

Price(s) and volume(s)

Price

Volume(s)

Ordinary shares

Nil consideration

1,870

d)

Aggregated information

Aggregated volume

Aggregated price

Aggregated total

Aggregated volume: 1,870

Aggregated price: Nil

Aggregated total: 1,870 ordinary shares

e)

Date of transaction

21 June 2024

f)

Place of the transaction

Outside of trading venue

 

 

1.

Details of PDMR/person closely associated with them ("PCA")

a)

Name

Toby Courtauld

2.

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor

a)

Name

Great Portland Estates plc

 

b)

Legal Entity Identifier

213800JMEDD2Q4N1MC42

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 the financial instrument

Ordinary shares of 15 5/19p

ISIN: GB00BF5H9P87

b)

Nature of the transaction

Sale of shares to cover income tax and National Insurance contributions liabilities arising on the receipt of further shares in respect of an option granted and exercised pursuant to The Great Portland Estates Deferred Share Bonus Plan

 

 

c)

Price(s) and volume(s)

Price

Volume(s)

Ordinary shares

335.2515p

1,210

d)

Aggregated information

Aggregated volume

Aggregated price

Aggregated total

Aggregated volume: 1,210

Aggregated price: £4,056.54

Aggregated total: 1,210 ordinary shares

e)

Date of transaction

21 June 2024

f)

Place of the transaction

London Stock Exchange (XLON)

 

1.

Details of PDMR/person closely associated with them ("PCA")

a)

Name

Nick Sanderson

2.

Reason for the notification

a)

Position/status

Chief Financial & Operating Officer

b)

Initial notification/amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, action platform, auctioneer or auction monitor

a)

Name

Great Portland Estates plc

 

b)

Legal Entity Identifier

213800JMEDD2Q4N1MC42

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 the financial instrument

Ordinary shares of 15 5/19p

ISIN: GB00BF5H9P87

b)

Nature of the transaction

Sale of shares to cover income tax and National Insurance contributions liabilities arising on the receipt of further shares in respect of an option granted and exercised pursuant to The Great Portland Estates Deferred Share Bonus Plan

 

 

c)

Price(s) and volume(s)

Price

Volume(s)

Ordinary shares

335.2515p

887

d)

Aggregated information

Aggregated volume

Aggregated price

Aggregated total

Aggregated volume: 887

Aggregated price: £2,973.68

Aggregated total: 887 ordinary shares

e)

Date of transaction

21 June 2024

f)

Place of the transaction

London Stock Exchange (XLON)

 

Contact:

Great Portland Estates plc







Darren Lennark

General Counsel & Company Secretary

020 7647 3000

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