BRITISH TELECOMMUNICATIONS PLC
29 September 1999
NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
1 NAME OF COMPANY 2 NAME OF DIRECTOR
British Telecommunications plc Sir Iain Vallance
Sir Peter Bonfield
Robert Brace
William Cockburn
3 THIS NOTIFICATION IS IN RESPECT OF A HOLDING OF:
The Directors named in 2 above
4 NAME OF THE REGISTERED HOLDER
Ilford Trustees (Jersey) Limited
5 THIS NOTIFICATION RELATES TO:
Ilford Trustees (Jersey) Limited is trustee of the BT
Employee Trust and BT Employee Trust No.2 of which the Directors
named in 2 above are discretionary beneficiaries.
6 NATURE OF TRANSACTION & NATURE & EXTENT OF DIRECTOR'S
INTEREST IN TRANSACTION
The above named directors have acquired the following technical interests
under Schedule 13 of the Companies Act 1985:
- under the BT Executive Share Plan, a technical interest, together with
all employees of BT plc, in 48,853 shares held in the BT Employee Trust
- under the BT Performance Share Plan and the BT Deferred
Bonus Plan, a technical interest, together with all
employees of BT plc, in 22,944 shares held in the BT
Employee Trust No.2.
7 NUMBER OF SHARES ACQUIRED 8 PERCENTAGE OF ISSUED
CLASS
71,797 shares Not significant
9 NUMBER OF SHARES DISPOSED 10 PERCENTAGE OF ISSUED
OF CLASS
Not applicable Not applicable
11 CLASS OF SECURITY 12 PRICE PER SHARE
Ordinary Shares of 25p 973 pence
13 DATE OF TRANSACTION 14 DATE COMPANY INFORMED
20 September 1999 29 September 1999
15 TOTAL HOLDING (i.e. Directors' interests) FOLLOWING THIS
NOTIFICATION; DETAILS OF SHARE OPTIONS ARE GIVEN AT 22
BELOW.
See following notifications of individual directors' interests.
16 TOTAL PERCENTAGE HOLDING OF ISSUED CLASS FOLLOWING THIS
NOTIFICATION
Not significant
17 DATE OF GRANT 18 PERIOD DURING WHICH OR
DATE ON WHICH EXERCISABLE
Not applicable Not applicable
19 TOTAL AMOUNT PAID FOR GRANT 20 DESCRIPTION OF SHARES
OF INVOLVED OPTION
Not applicable Not applicable
21 EXERCISE PRICE (FIXED AT TIME OF GRANT)
Not applicable
22 TOTAL NUMBER OF SHARES OVER WHICH THE DIRECTORS HOLDS
OPTIONS FOLLOWING THIS NOTIFICATION
No change since previous notification of directors'
interests.
23 ANY ADDITIONAL INFORMATION
The above named directors have other technical interests
under Section 13 of the Companies Act 1985 as follows:
- under the BT Employee Share Ownership Scheme, a technical
interest, together with all employees of BT, in 101,266 shares
held in the name of BT Employee Shares Trustees Limited;
- under the BT Executive Share Plan, a technical interest,
together with all employees of BT, in 5,954,313* shares held
in trust in the name of Ilford Trustees (Jersey) Limited as
discretionary beneficiaries of the BT Employee Trust; and
- under the BT Performance Share Plan and the BT Deferred
Bonus Plan, a technical interest, together with all employees
of BT, in 2,920,847 shares held in trust in the name of
Ilford Trustees (Jersey) Limited as discretionary
beneficiaries of the BT Employee Trust No. 2.
24 DATE THAT DIRECTORS BECAME AWARE OF THE TRANSACTION
29 September 1999
* This figure has been restated from the figure of 5,954,317 shares previously
quoted. This reduction in technical interest of 4 shares has arisen as a
result of an adjustment in connection with the vesting of the BT Executive
Share Plan on 2 August 1999, which has not previously been notified to the
directors. After accounting for this adjustment, and the acquisition of
48,853 shares as notified above, the composite technical interest of each of
the above directors in shares in the BT Employee Trust held in the name of
Ilford Trustees (Jersey) Limited is 6,003,166 shares.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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