British Land Co PLC Director/PDMR Shareholding (9737J)

TIDMBLND

RNS Number : 9737J

British Land Co PLC

03 July 2017

Matching Share Plan ("MSP") - Vesting

The British Land Company PLC (the "Company") announces that it received notification from the Trustees of The British Land Employee Share Trust of the partial vesting on 30 June 2017 of the MSP Matching Share awards granted on 30 June 2014 to Chris Grigg, Lucinda Bell, Charles Maudsley and Tim Roberts, Executive Directors of the Company, and to Nigel Webb and Joff Sharpe, Persons Discharging Managerial Responsibilities of the Company ("PDMR"). The Matching Share awards vested at 50% as the MSP's Gross Income Growth performance test had been fully attained whereas the Total Shareholder Return performance test had not been met.

In accordance with the terms of the MSP, the MSP Bonus Shares that were purchased by the MSP participants on 30 June 2014 using proportions of their retained Annual Incentive awards were released on 30 June 2017.

 
                     Bonus Shares   Matching Shares 
                      Released       Vesting 
------------------  -------------  ---------------- 
 Chris Grigg         27,028         50,883 
------------------  -------------  ---------------- 
 Lucinda Bell        11,637         21,908 
------------------  -------------  ---------------- 
 Charles Maudsley    12,638         23,792 
------------------  -------------  ---------------- 
 Tim Roberts         12,638         23,792 
------------------  -------------  ---------------- 
 Nigel Webb          6,406          12,061 
------------------  -------------  ---------------- 
 Joff Sharpe         4,504          8,480 
------------------  -------------  ---------------- 
 

Following the vesting Chris Grigg sold 23,964 shares, Lucinda Bell sold 10,318 shares, Charles Maudsley sold 11,205 shares, Tim Roberts sold 11,205 shares and Nigel Webb sold 5,681 shares all at a price of GBP6.011 per share, to cover their respective tax liabilities. Joff Sharpe sold all 12,984 shares. All share sales were at a price of GBP6.011 per share. Chris Grigg transferred 53,947 shares to his wife, Fionna Grigg; Lucinda Bell transferred 11,590 shares to her husband, Matthew Bell; Tim Roberts transferred 25,225 shares to his wife, Sarah Roberts; and Nigel Webb transferred 12,786 shares to his wife, Philippa Webb.

The release of shares and transfers to spouses took place outside a trading venue and the sale of shares took place in London.

This notification is made in accordance with the requirements of the EU Market Abuse Regulation. The Company's Legal Entity Identifier Code is RV5B68J2GV3QGMRPW209. The Identification Code for ordinary shares of 25 pence each in the Company is GB0001367019.

 
 Enquiries: 
  Bruce James 
  Company Secretariat, 
  British Land              020 7486 4466 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHZXLFBDDFEBBQ

(END) Dow Jones Newswires

July 03, 2017 10:57 ET (14:57 GMT)