Director/PDMR Shareholding

RNS Number : 5383N

British Land Co PLC

09 September 2013

 

Director / PDMR Shareholding

Matching Share Plan ("MSP") - Vesting

The Company announces that on 06 September 2013 Matching Shares awarded to Chris Grigg, Charles Maudsley and Tim Roberts, Directors of the Company, and to Jean-Marc Vandevivere and Nigel Webb, Persons Discharging Managerial Responsibilities ('PDMR'), on 02 September 2010, vested on full satisfaction of the MSP's Total Shareholder Return Performance Test ('TSR Test') and Gross Income Growth ('GIG Test') Performance Test as detailed in the table below.

Under the terms of the MSP, Bonus Shares that had been purchased on 31 March 2010 using the individuals' retained bonuses, and held according to the terms of the MSP, were also released.

	Bonus Shares released	Matching Shares vesting subject to TSR and GIG Test's
DIRECTOR
Chris Grigg	39,366	133,028
Charles Maudsley	2,178	7,360
Tim Roberts	16,402	55,428
PDMR
Jean-Marc Vandevivere	7,176	24,248
Nigel Webb	7,791	26,328

Of the above shares that were released or vested, Chris Grigg sold 62,698 shares, Charles Maudsley sold 3,472 shares, Tim Roberts sold 26,135, Jean-Marc Vandevivere sold 11,437 and Nigel Webb sold 12,418 to satisfy their respective withholdings of Income Tax and NIC under the PAYE regulations, all at a price of 546.36 pence per share. All the remaining shares have been retained by the individuals except for Tim Roberts who transferred all of his retained shares (45,695) to his wife, Sarah Roberts and Nigel Webb who transferred all of his retained shares (21,701) to his wife, Philippa Webb.

 

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