Director/PDMR Shareholding
British Land Co PLC
30 November 2007
The Company announces that it received notification yesterday from the Trustees
of The British Land Share Ownership Plan (the 'Trust') that on 29 November 2007
the Trust released 246,992 ordinary 25p shares of the Company to participants in
the Company's Long-Term Incentive Plan (the 'Plan'), pursuant to an award made
on 29 November 2004, which vested on attainment of the performance target.
The Trust is a discretionary Trust established for the benefit of employees,
including Executive Directors and Persons Discharging Managerial
Responsibilities of the Company, to facilitate the operation of its share
incentive schemes. Executive Directors and Persons Discharging Managerial
Responsibilities of the Company who are participants in these schemes are
consequently considered to be interested in the shares held by the Trust, as
discretionary beneficiaries.
The Trust also notified the Company yesterday that, of the above shares released
by the Trust, some were released to Executive Directors and Persons Discharging
Managerial Responsibilities of the Company as shown in the table below. 245,058
options awarded on 29 November 2004 under this Plan also vested yesterday, on
attainment of the performance target, for Executive Directors and Persons
Discharging Managerial Responsibilities as shown in the table below:
Shares at nil consideration Options at 796p per share
Director
Stephen Hester 56,532 169,596
Tim Roberts 6,218 18,654
PDMR
Tony Braine 6,359 19,077
Peter Clarke 6,218 18,654
Nigel Webb 6,359 19,077
Following this vesting, on 29 November 2007, Stephen Hester sold 23,179 shares,
Tim Roberts sold 2,550 shares, Tony Braine sold 2,608 shares, Peter Clarke sold
6,218 shares, and Nigel Webb sold 2,608 shares all at a price of 896.6754p per
share.
Also on 29 November 2007 the Trust released 61,957 shares to Stephen Hester,
awarded on 29 November 2004 under the Co-Investment Share Plan. These shares
had been awarded on his appointment to the Company to compensate him for loss of
previous benefits, were conditional on the prior acquisition by him of a
matching number of shares and their subsequent retention for three years and
that he remained in employment with the Company in this period. Subsequent to
the vesting of these shares, on 29 November 2007, Stephen Hester sold 25,403
shares at a price of 896.6754p per share.
30 November 2007.
This information is provided by RNS
The company news service from the London Stock Exchange
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