Director/PDMR Shareholding

RNS Number : 6997E

LSL Property Services

11 April 2011

 



Directors or Persons Discharging Managerial Responsibility ("PDMR") - Interest in Shares 

2011 Joint Share Ownership Plan (the "JSOP") 

In accordance with Disclosure Rule 3.1.4R, LSL Property Services plc (the "Company") announces that the following Executive Director and PDMRs of the Company were granted awards on 31^st March 2011, in the form of an interest in jointly owned shares (i.e. ordinary shares held in co-ownership with the LSL Property Services plc Employee Benefit Trust) and a stock appreciation right ("SAR").

Name of PDMR / Director	Number of LSL Property Services plc ordinary shares held in co-ownership with the Employee Benefit Trust	Number of LSL Property Services plc  ordinary shares over which stock appreciation right granted
David Brown	18,329	18,329
Jon Cooke	8,146	8,146
Steve Cooke	89,613	89,613
Simon Embley	203,665	203,665
Nigel Favas	10,692	10,692
David Newnes	57,026	57,026
Jon Round	18,329	18,329
Gareth Samples	48,879	48,879
Alison Traversoni	57,026	57,026

In respect of the jointly owned shares, the above Executive Directors and PDMRs have entered into a co-ownership agreement with the trustees of the Employee Benefit Trust. Under the terms of each co-ownership agreement the participant has a right to receive a proportion of the sale proceeds in so far as the value of the shares on disposal exceeds £3.20 per share and a performance target is satisfied. The interests vest on 31 March 2014.

In addition, the above Executive Directors and PDMRs were granted SARs which entitle them to the growth in the value of a share from £2.455 up to £3.20. SARs may be settled in shares or cash at the discretion of the Company. The SARs first become exercisable on 31 March  2014. No amount was paid by the Executive Directors or PDMRs in respect of the grant of the SARs.

Vesting of the awards is conditional on the Company's earnings per share performance meeting an absolute performance target over a period of three financial years starting with the financial year in which the award is granted and a relative total shareholder return condition, also measured over three years.

This notification is made in accordance with Disclosure and Transparency Rule 3.1.2.

Sapna B FitzGerald

Company Secretary

01904 715 315

LSL Property Services plc

Sapna B FitzGerald

Company Secretary & Head of Legal

LSL Legal Services

 

END

 

 

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