British Land Co PLC Director/PDMR Shareholding (5653G)

TIDMBLND

RNS Number : 5653G

British Land Co PLC

08 August 2016

Long-Term Incentive Plan ("LTIP") Vesting

The British Land Company PLC (the "Company") announces that, on 05 August 2016, the LTIP awards granted to Executive Directors and persons discharging managerial responsibilities ("PDMRs") of the Company on 05 August 2013 vested at 56.3% on partial satisfaction of the total property return and total accounting return performance conditions attached to the awards.

On vesting LTIP Performance Shares were released and LTIP Options became available to exercise in accordance with the LTIP rules, as detailed below:

 
                              Vesting LTIP awards 
------------------  --------------------------------------- 
                     Performance Shares      Options at 601 
                      at nil consideration    pence 
------------------  ----------------------  --------------- 
 Executive Directors 
----------------------------------------------------------- 
 Chris Grigg         149,882                 - 
------------------  ----------------------  --------------- 
 Lucinda Bell        65,339                  87,119 
------------------  ----------------------  --------------- 
 Charles Maudsley    79,625                  - 
------------------  ----------------------  --------------- 
 Tim Roberts         79,625                  - 
------------------  ----------------------  --------------- 
 PDMRs 
----------------------------------------------------------- 
 Sally Jones         2,852                   - 
------------------  ----------------------  --------------- 
 Darren Richards     3,588                   14,355 
------------------  ----------------------  --------------- 
 Joff Sharpe         17,915                  71,662 
------------------  ----------------------  --------------- 
 Nigel Webb          35,971                  - 
------------------  ----------------------  --------------- 
 

Following the vesting Chris Grigg sold 70,586 shares, Lucinda Bell sold 30,772 shares, Charles Maudsley sold 37,499 shares, Tim Roberts sold 37,499 shares, Sally Jones sold 1,345 shares, Joff Sharpe sold 8,438 shares and Nigel Webb sold 16,941 shares to cover their respective tax liabilities and Darren Richards sold all his newly vested shares. These sales took place at a price of 665.8 pence per share. Tim Roberts transferred his remaining 42,126 shares to his wife, Sarah Roberts, and Nigel Webb transferred his remaining 19,030 shares to his wife, Philippa Webb.

The above transactions took place in London and the Company was notified on 05 August 2016.

Share Incentive Plan ("SIP") Dividend Share Purchase

The Company also announces that it has been notified by Equiniti Share Plan Trustees Limited, trustees of the British Land SIP, of the purchase on 05 August 2016 of Dividend Shares at a price of 666.5 pence per share on behalf of the Company's Executive Directors and PDMRs.

Details of the Dividend Shares purchased, following the payment of the Fourth Interim Dividend for 2015/16, are outlined below:

 
                     SIP Dividend Shares 
                      purchased at 666.5 
                      pence 
------------------  -------------------- 
 Executive Directors 
---------------------------------------- 
 Chris Grigg         86 
------------------  -------------------- 
 Lucinda Bell        191 
------------------  -------------------- 
 Charles Maudsley    64 
------------------  -------------------- 
 Tim Roberts         178 
------------------  -------------------- 
 PDMRs 
---------------------------------------- 
 Sally Jones         61 
------------------  -------------------- 
 Darren Richards     69 
------------------  -------------------- 
 Joff Sharpe         20 
------------------  -------------------- 
 Nigel Webb          72 
------------------  -------------------- 
 

The above transactions took place in London and the Company was notified on 08 August 2016.

Transfer of Shares

The Company also announces that on 05 August 2016 Tim Roberts, an Executive Director of the Company, transferred 14,633 ordinary shares of 25 pence each in the Company ("Shares") to his wife, Sarah Roberts and that on 08 August 2016 Nigel Webb, a PDMR of the Company, transferred 6,882 Shares to his wife, Philippa Webb.

The Company was notified of the above transfers on 05 August 2016 and 08 August 2016 respectively.

This notification is made in accordance with the requirements of DTR 3.1.4 R.

 
Enquiries: 
Camilla Wiseman 
 Company Secretariat, 
 British Land           020 7486 4466 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 08, 2016 11:00 ET (15:00 GMT)