Director/PDMR Shareholding

RNS Number : 4616W

Land Securities Group PLC

01 August 2018

 

Land Securities Group PLC   

(Company)

Notification of transactions by

Persons Discharging Managerial Responsibilities (PDMRs)

On 31 July 2018, Land Securities Group PLC (Landsec or the Company) was notified of the following transactions in its ordinary shares of 10 2/3p each (Shares) by PDMRs (who are all Executive Directors).

On 27 July 2018, Robert Noel and Martin Greenslade became entitled to the dividend equivalents as set out below taken as Nil Cost Options (Options) pursuant to the Options granted under the Land Securities 2015 Deferred Share Bonus Plans (2015 DSB) on 27 June 2016 and 26 June 2017 following their vesting on 26 and 27 June 2018, being accrued within the 2015 DSB on the dividend record date and calculated at the dividend payment date.  The dividend equivalents are in respect of the final dividend for the 2017/18 financial year which was paid to shareholders on 27 July 2018.

On 27 July 2018, Robert Noel, Martin Greenslade, Colette O'Shea and Scott Parsons, all received dividend equivalents taken as Options in relation to awards made under the Land Securities' 2009 Deferred Share Bonus Plan (2009 DSB) and the 2015 DSB as set out below, where dividend equivalents that had previously been awarded for these DSB awards had not reflected the final dividend adjustment for each year and therefore this is now being corrected.

On 31 July 2018, Robert Noel and Martin Greenslade exercised all outstanding options under the 2015 DSB and 2009 DBS as detailed below.

1	Details of the person discharging managerial responsibilities
a)	Name	Robert Noel
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Vest of Options (final dividend equivalents) granted under the Company's Deferred Share Bonus Plan on, 27 June 2016 and 26 June 2017.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	1,382
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	27/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Robert Noel
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	1,354
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	27/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Martin Greenslade
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Vest of Options Final dividend equivalents) granted under the Company's Deferred Share Bonus Plan on 27 June 2016 and 26 June 2017.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	852
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	27/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Martin Greenslade
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	1,025
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	27/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Colette O'Shea
2	Reason for the notification
a)	Position/status	Managing Director, London Portfolio
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	255
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	27/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Scott Parsons
2	Reason for the notification
a)	Position/status	Managing Director, Retail Portfolio
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Vest of Options (correction to include the final dividend equivalents) granted under the Company's 2009 and 2015 Deferred Share Bonus Plans
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	232
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	27/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Robert Noel
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Acquisition of Shares in the Company following the exercise of Options granted under the Company's 2015 and 2009 Deferred Share Bonus Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	31,782
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	31/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Robert Noel
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Sell Ordinary Shares in the Company ("Shares") to cover tax liability as a result of exercising the options set out above.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£9.451	14,968
d)	Aggregated information
	-      Aggregated volume	£9.451	14,968
	-      Price	Total Price £141,462.57
e)	Date of the transaction	31/07/2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities
a)	Name	Martin Greenslade
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Acquisition of Shares in the Company following the exercise of Options granted under the Company's 2015 and 2009 Deferred Share Bonus Plan
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£n/a	19,811
d)	Aggregated information
	-      Aggregated volume	- £ per share n/a
	-      Price	- Total Price £n/a
e)	Date of the transaction	31/07/2018
f)	Place of the transaction	n/a

1	Details of the person discharging managerial responsibilities
a)	Name	Martin Greenslade
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Purchase of Ordinary Shares in the Company ("Shares") for transfer into SIPP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£9.435	8,000
d)	Aggregated information
	-      Aggregated volume	£9.435
	-      Price	Total Price £75,480.72
e)	Date of the transaction	31/07/2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities
a)	Name	Martin Greenslade
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Purchase of Ordinary Shares in the Company ("Shares") for transfer into ISA
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£9.439	2,500
d)	Aggregated information
	-      Aggregated volume	£9.439	2,500
	-      Price	Total Price £23,596.53
e)	Date of the transaction	31/07/2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities
a)	Name	Martin Greenslade
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Land Securities Group PLC
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	-     Shares
		-     GB00BYW0PQ60
b)	Nature of transaction	Sell Ordinary Shares in the Company to (1) cover tax liability as a result of exercising the options set out above and (2) fund the purchase of shares to transfer into SIPP and ISA.   Net effect is sell sufficient to cover tax liability
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£9.451	19,811
d)	Aggregated information
	-      Aggregated volume	£9.451	19,811
	-      Price	Total Price £187,233.77
e)	Date of the transaction	31/07/2018
f)	Place of the transaction	London

Enquiries to:  Liz Miles, Deputy Company Secretary

Land Securities Group PLC

Tel: [phone]

 

END

 

 

DSHVFLBBVVFLBBK