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Reed Elsevier PLC (REL)

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Tuesday 03 March, 2009

Reed Elsevier PLC

Director/PDMR Shareholding

RNS Number : 2423O
Reed Elsevier PLC
03 March 2009
 



ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV


3 March 2009

  

Director/PDMR Shareholding


Reed Elsevier received notification on 2 March 2009 thatfollowing the vesting of the share awards noted below, granted in April 2006 under the Reed Elsevier Group plc Long Term Incentive Share Option Scheme, and after taking account of shares withheld to meet personal tax and social security obligations, the number of ordinary shares noted below were released to the directors/PDMRs on 27 February 2009.


The closing market price of each share on the date of vesting was 524.50p per Reed Elsevier PLC share and €8.864 per Reed Elsevier NV share. 


Also on 27 February 2009, Mr Prozes sold 92,572 Reed Elsevier PLC shares and 60,956 Reed Elsevier NV shares at the respective price of 522.1988p and €8.7413 per share. 


Following these transactions, the current interest of each director in the share capital of Reed Elsevier PLC and Reed Elsevier NV is as noted below.


Director

Number of Reed Elsevier PLC shares vested

Number of Reed Elsevier NV shares vested

Number of Reed Elsevier PLC shares released

Number of Reed Elsevier 

NV 

shares released

Current

interest in Reed Elsevier PLC ordinary shares

Current

interest in Reed Elsevier NV ordinary shares

Mark Armour 

141,891

93,430

83,715

55,123

215,287

117,507

Sir Crispin Davis

273,199

179,892

161,187

106,136

961,826

493,076

Erik Engstrom

155,153

102,163

29,184

60,276

107,040

272,036

Andrew Prozes

158,109

104,110

92,572

60,956

231,709

168,676



PDMR

Number of Reed Elsevier PLC shares vested

Number of Reed Elsevier NV shares vested

Number of Reed Elsevier PLC shares released

Number of Reed Elsevier 

NV 

shares released

Ian Fraser

83,182

54,772

49,077

32,315



The ordinary shares required to meet the above releases have been satisfied from the Reed Elsevier Employee Benefit Trust (the 'Trust'). The Trust is a discretionary employee benefit trust which may acquire shares in Reed Elsevier PLC and Reed Elsevier NV by means of market purchases on the appropriate Stock Exchange. The Trust is operated in conjunction with Reed Elsevier's share incentive schemes, and provides for the transfer of shares to employees on the exercise of awards granted under the said schemes.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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