The Company announces that on 5 September 2012 it received notification from the Trustees of The British Land Share Ownership Plan (the "Trust") that, on 5 September 2012, the Long-Term Incentive Plan ("LTIP") Awards granted to Chris Grigg, Lucinda Bell and Tim Roberts, Directors of the Company, and to Anthony Braine, Benjamin Grose, Jean-Marc Vandevivere, Nigel Webb and Simon Carter, Persons Discharging Managerial Responsibilities ("PDMRs"), on 29 June 2009, vested on full satisfaction of the LTIP Performance Condition, as detailed in the table below:
|
Vesting LTIP Awards |
|
|
Shares at nil consideration |
Options at 387p per share |
Directors |
||
Chris Grigg |
258,397 |
1,033,591 |
Lucinda Bell |
8,397 |
50,387 |
Tim Roberts |
|
826,873 |
PDMRs |
||
Anthony Braine |
|
317,829 |
Simon Carter |
5,329 |
21,317 |
Ben Grose |
|
10,335 |
Jean-Marc Vandevivere |
|
117,571 |
Nigel Webb |
|
77,519 |
Following the vesting, on 5 September 2012, Chris Grigg sold 134,722 shares and Simon Carter sold 2,781 shares, all at a price of 529p per share, to cover their respective tax liabilities; Chris Grigg transferred his remaining shares to his wife. Lucinda Bell transferred her shares to her husband. Also on 5 September 2012 Ben Grose and Anthony Braine exercised all the options vesting above and sold the resultant shares, at 529p per share.
On 6 September 2012 Tim Roberts exercised 400,000 of the options vesting above and sold the resultant shares, at 539p per share.
The Company also announces that on 5 September 2012 it received notification from the Trustees of the Trust that, on 5 September 2012, the Trust released shares pursuant to Awards made under the Fund Manager's Performance Plan ("FMPP") to Ben Grose and Nigel Webb, both PDMRs, as detailed in the table below:
|
Date of Grant |
Shares Vesting at nil consideration |
Ben Grose |
17 June 2009 |
20,059 |
28 May 2010 |
36,782 |
|
Nigel Webb |
28 May 2010 |
32,184 |
21 June 2011 |
26,121 |
Following the vesting, on 5 September 2012, Ben Grose and Nigel Webb sold their newly-vested FMPP shares, all at a price of 529p per share.
The Company also announces that on 5 September 2012 Nigel Webb, a PDMR, sold 10,778 shares held in his own name, all at a price of 526p per share.