BPT PLC
21 July 2000
BPT plc ('BPT' or 'the Company')
Incentive scheme share purchases
The Company was informed on 20 July 2000, that BPT Employee Benefits Trustee
Limited purchased 51,135 ordinary shares of 5p each in the Company on 18 July
2000 at a price of 251.5p per share.
This purchase is in addition to 106,000 ordinary shares of 5p each purchased
on 15 February 2000 at a price of 208p. 69,644 of such ordinary shares are in
respect of awards recently made under The BPT Annual Incentive Plan and 87,491
in respect of awards recently made under The BPT Long Term Share Incentive
Scheme.
The BPT Employee Benefits Trust now holds a total of 321,327 ordinary shares,
representing 0.21 per cent of the Company's issued ordinary share capital.
57,000 of these shares (purchased on 15 February 2000 at a price per share of
208p) are being transferred from the BPT Employee Benefits Trustee Ltd to the
BPT Employee Benefits Trustee (No 2) Ltd.
The BPT Annual Incentive Plan
In accordance with the Rules of The BPT Annual Incentive Plan, directors of
the Company have been allocated the right to acquire ordinary shares in
respect of the year ended 5 April 2000 as follows:
T N Watts 18,509
N A Denby 10,887
G R Butterworth 6,097
J D Story 4,953
For the purpose of the current awards the average price per share is 215.273p
Such rights can be exercised in July 2003 and include the right to receive a
Matching Award under the Rules of the Plan. These rights are in addition to
those previously reported.
The BPT Long Term Share Incentive Scheme
In accordance with the Rules of The BPT Long Term Share Incentive Scheme,
shares will be vested in the relevant employees in 2003 only upon the
achievement of the specified performance criteria. Ordinary shares were
allocated on 18 July 2000 for the possible future benefit of directors of the
Company as follows:
T N Watts 19,768
N A Denby 10,982
G R Butterworth 6,150
J D Story 6,150
For the purpose of the current awards the average price per share is 227.635p
The Bradford Property Trust Profit Sharing Scheme
The Company was also informed on 18 July that the BPT Employee Benefits
Trustee (No 2) Limited, the trustee of The Bradford Property Trust Profit
Sharing Scheme (the 'Scheme') had purchased 14,004 ordinary shares of 5p each
in the Company at a price of 251.5p per share. In total 71,004 shares
(including the 57,000 transferred shares mentioned above) were appropriated to
eligible employees on 18 July 2000 in accordance with the provisions of the
Scheme which was approved by the Inland Revenue on 11 September 1998.
Appropriations to directors of the Company were made as follows:
T N Watts: 3,693
N A Denby: 3,692
G R Butterworth: 2,585
J D Story 4,953
For the purpose of the award the average price per share is 216.59p.
BPT Employee Benefits Trustee (No 2) Limited is the registered holder of
118,948 ordinary shares representing 0.08 percent of the Company's issued
ordinary share capital. A further 57,000 ordinary shares are in the course of
transfer into this name, as referred to above.
The other interests of those directors named above in the Company's issued
share capital remain unchanged.
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