Director/PDMR Shareholding

RNS Number : 2298R

Hammerson PLC

27 April 2009

 

Notification of Directors' Interests

Long-Term Incentive Plan 

On 1 April 2009 conditional awards of shares were made to Executive Directors and senior executives of Hammerson plc under the Company's Long Term Incentive Plan ('LTIP').

Under the terms of the LTIP, the shares will vest three years after the date of grant, subject to continued employment and satisfaction of predetermined performance conditions. 

The maximum number of shares over which an option could vest in respect of the grant made on 1 April 2009 and the total maximum number of shares in respect of this and previous grants made in 2007 and 2008 to the following Executive Directors are as follows:

	Grant on 01.04.2009	Total on 01.04.2009
R J G Richards	301,624	476,488
D J Atkins	174,013	267,642
P W B Cole	217,517	343,655
S R Melliss	217,517	343,655

Annual Bonus Scheme

Part of the annual performance related bonus payable to Executive Directors of Hammerson plc is payable in ordinary shares of the Company at the time the cash bonus is paid ('Part B') and a further part is payable in shares, deferred for two years ('Part C'). In view of current market conditions, the Executive Directors have agreed to defer the vesting of Part B shares such that they will be treated in the same way as the deferred Part C shares. Share entitlements, calculated by reference to the mid-market closing price of 265 pence on 24 March 2009, have been awarded as follows:

	Share Entitlements
R J G Richards	75,115
D J Atkins	52,845
P W B Cole	49,075
S R Melliss	52,471

Following the vesting on 2 April 2009 of the conditional award of Part C shares made on 1 March 2007 in respect of the bonus payable for 2006, Executive Directors were awarded shares as follows, some of which were sold as follows:

	Shares Exercised	Shares Sold	Shares Retained
R J G Richards	11,738	4,823	6,915
D J Atkins	1,977	813	1,164
P W B Cole	8,206	3,372	4,834
S R Melliss	8,206	3,372	4,834

Deferred Share Plan

Following the exercise on 2 April 2009 of nil cost options granted on 1 March 2006 under the Hammerson 2000 Deferred Share Plan, Executive Directors were awarded shares as follows, some of which were sold as follows:

	Shares Exercised	Shares Sold	Shares Retained
R J G Richards	47,664	19,582	28,082
D J Atkins	13,466	5,532	7,934
P W B Cole	34,117	14,016	20,101
S R Melliss	34,117	14,016	20,101

Share Incentive Plan 

The Company awarded Free Shares on 15 April 2009 to UK staff and Directors of Hammerson plc under the Free Shares element of the Hammerson plc Share Incentive Plan at a price of 307 pence per share. The shares are held by a nominee.  The number of shares acquired by Directors is as follows:

	Free Shares Awarded
R J G Richards	977
D J Atkins	977
P W B Cole	977
S R Melliss	977

S R Melliss also purchased 1 ordinary share of 25 pence in Hammerson plc under the Partnership Shares element of the Hammerson plc Share Incentive Plan at a price of 276.5 pence and was awarded 2 ordinary shares under the Matching Shares on 25 March 2009. 

Savings-Related Share Option Scheme ('Sharesave Scheme')

On 15 April 2009, under the terms of the Hammerson Sharesave Scheme, the following directors were granted options to buy ordinary shares in the Company at an option price of 217.20 pence per share.  The savings contracts will commence on 1 May 2009 for a 3-year term.

	Options granted
R J G Richards	4,212
D J Atkins	4,212

D J Atkins has cancelled his previous saving contract which commenced on 1 May 2008 with options over 1,085 shares at an option price of 884 pence.

Following the above transactions, the holdings of the above directors of Hammerson plc in ordinary shares of Hammerson plc are now as follows:

	Total holding
R J G Richards	366,623
D J Atkins	58,967
P W B Cole	170,889
S R Melliss	181,408

 

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