Director/PDMR Shareholding

RNS Number : 1026X

National Grid PLC

30 November 2010

 



30 November 2010

National Grid plc (National Grid)

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Notification of Director's Interests
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            Special Retention Award Plan

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On 29 November 2007, Tom King was granted an award over 35,487 National Grid American Depositary Shares ("ADS"s) under the National Grid Special Retention Award Plan (the "Plan"). This award was calculated by reference to a share price of $84.5360 per ADS vesting in three equal tranches on 29 November in 2008, 2009 and 2010 respectively. The ADSs below are being transferred to Mr King in accordance with the rules of the Plan.

On 29 November 2010 the third and final tranche of the award (adjusted for National Grid's recent Rights Issue) over 13,517 ADSs became due for release. The trustee has notified the Company that following the sale of 5,082 ADSs to meet US statutory deductions he retains 8,435 ADSs following their release to him, effective Monday 29 November.

Following this release Tom King's total interest is 250,165 ADSs (equivalent to 1,250,825 National Grid ordinary shares).

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Contact: D C Forward, Assistant Secretary (0207 004 3226)

 

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