Director/PDMR Shareholding

RNS Number : 0454X

Big Yellow Group PLC

07 August 2009

 



7 August 2009

Big Yellow Group PLC

Director/PDMR shareholding, transfer of treasury shares and issue and application for listing of shares

Big Yellow Group PLC (the "Company") announces that following approval of the Big Yellow Long Term Bonus Performance Plan (the "Plan") at the Company's Annual General Meeting on 3 July 2009, the following awards over shares in the Company ("Shares") were made to the Company's four executive Directors on Thursday 6 August 2009 as follows: 

Director	Number of shares in which the Director has an interest	Maximum potential payout after three years
Nicholas Vetch	500,000	£1,000,000
James Gibson	500,000	£1,000,000
Adrian Lee	250,000	£500,000
John Trotman	250,000	£500,000

Awards were made by the Company's employee benefit trust operated by Barclays Wealth Trustees (Guernsey) Limited (the "Employee Benefit Trust"). Participants have agreed to pay 26 pence per Share under award, or such other amount as is agreed with HMRC as the value of the interest.  

Transfer of treasury Shares to Employee Benefit Trust

The Company also announces that on Thursday 6 August 2009, 100,000 Shares were transferred from treasury to the Employee Benefit Trust. No consideration was payable for the transfer.  Following this transfer the Company no longer holds any Shares in Treasury.

Issue of Shares to Employee Benefit Trust and application for listing of new Shares

The Company issued 1,090,000 Shares to the Employee Benefit Trust on Thursday 6 August 2009 at 368.8 pence per Share to satisfy (in conjunction with Shares already held by the Employee Benefit Trust and the treasury Shares referred to above) the awards made to Directors and other employees under the Plan. An application has been made to the UK Listing Authority and the London Stock Exchange to admit the 1,090,000 Shares issued to the Employee Benefit Trust to the official list and admit to trading on The London Stock Exchange. The application is expected to become effective on 12 August 2009.

Enquiries
John Trotman, Chief Financial Officer	01276 477 811
Michael Cole, Company secretary	01276 477 811

 

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