Director/PDMR Shareholding

RNS Number : 2305X

British Land Co PLC

10 February 2012

 

Notification of transactions on the main market of the London Stock Exchange, notified to The British Land Company PLC (the 'Company') on 9 February 2012 in accordance with DTR3.1.2R

The Company announces that it received notification on 9 February 2012 from the Trustees of The British Land Share Ownership Plan (the 'Trust') that on 9 February 2012 the Trust released 242,500 ordinary 25p shares of the Company to Chris Grigg, a Director of the Company, under the Company's Chris Grigg 2009 Co-Investment Share Plan. These shares were conditionally awarded to Mr. Grigg in March 2009 in connection with his recruitment as Chief Executive of the Company.  Mr. Grigg has complied with the vesting condition of the award, that he acquire and retain until 9 January 2012 a matching holding of 242,500 shares. 

On vesting, on 9 February 2012, 126,436 of these shares that vested were sold to satisfy withholding of Income Tax and NIC under the PAYE regulations, all at a price of 492p per share. Mr. Grigg therefore retained 116,064 shares.

The Trustees of the Trust also informed the Company that on 9 February 2012 the Trust released 53,125 ordinary 25p shares of the Company to Charles Maudsley, a Director of the Company, under the Company's Charles Maudsley 2010 Restricted Share Plan.  These shares were conditionally awarded to Mr. Maudsley in March 2010 in connection with his recruitment as an Executive Director of the Company as compensation for the loss of earned but unvested deferred shares and cash awards at his previous employer.  An earlier tranche of this award vested in February 2011.

On vesting, on 9 February 2012, 27,715 of these shares were sold to satisfy withholding of Income Tax and NIC under the PAYE regulations, all at a price of 492p per share. Mr. Maudsley therefore retained 25,410 shares.

10 February 2012.

 

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